3 market share position," said Jeff Stantial, director of gaming and leisure research at Stifel.
DraftKings stock tripled in 2023 and has already gained nearly 10% in 2024.
'Buying' market share The remaining market share is up for grabs and fluctuates among the smaller players.
Stantial expects ESPN Bet has the edge over BetMGM, but says both sportsbooks remain tightly contested for a larger slice of market share.
ESPN Bet has been running promotions that include $150 of free bets and $1,000 deposit match upon signing up, according to JPMorgan analyst Joseph Greff.
Persons:
Jeff Stantial, Bank of America's Shaun Kelley, You've, Stantial, Joseph Greff, Greff, Walt Disney, Barstool, FactSet, JPMorgan's Greff, Bet365, Clark Lampen, Lampen
Organizations:
DraftKings, Penn Entertainment, ESPN Bet, MGM Resorts International, Baltimore Ravens, Kansas City Chiefs, San Francisco 49ers, Detroit Lions, New York Stock Exchange, NCAA, Bank of America's, Euronext Dublin, BetMGM, ESPN Bet's, Professional, Amateur Sports Protection, ESPN BET, ESPN, Walt, Barstool Sports, Sportico, Penn, MGM
Locations:
U.S, North Carolina, Ireland, WynnBet, BetMGM, PENN, York