Morgan Stanley, the famed investment banking company, has published the findings of new research on sports betting apps in the USA’s sports betting sector for September. According to the report, the overall volume of sports betting app downloads in the regulated US market has shot up by a whopping 183% compared to September 2020. This strong growth was majorly thanks to the NFL Season kick-off, alongside the general excitement churned by the entry of new states into the regulated sports wagering market.
As for individual app downloads, DraftKings led the US sports betting market with the lion’s share of about 32% of all downloads. DraftKings, the Boston-based juggernaut, was followed closely by FanDuel, which accounted for 27% of all the sportsbook app downloads in September. The performance was also a tangible improvement from what the duo saw in August, at 30% and 20% market share of the app downloads, respectively.
Meanwhile, BetMGM was the third-best performer for sportsbook app downloads in September, commanding 12% of the share after garnering 1% more than August. Caesars sportsbook app downloads tied with BetMGM at 12% but experienced a 6 point drop from the previous month’s 18% market share. It’s also worth noting that September was the second month that Caesars sportsbook app downloads recorded a double-digit market share in 2021.
Top Operators Continue to Dominate the USA Regulated Sports Betting Sector
Morgan Stanley’s report confirms that yet again, DraftKings and FanDuel continue to cement their position as market leaders in the USA sports betting scene. The sportsbook app downloads for the two steamrollers combined took up 59% of all downloads, a 9-point month-over-month increase.
Combining the top-four performers in the highest volume of US sportsbook app downloads shows that they command a stupendous 83% of all the mobile betting applications users installed on their devices in September. This share is a 4-point uptick from August’s 79% share of sportsbook application downloads from the four leading US operators.
However, the consistently strong performance for the USA’s market leaders left very little room for newer entrants into the country’s sports betting sector. Morgan Stanley’s market research also highlighted mobile betting app downloads for the Barstool Sportsbook and WynnBET, which only saw single-digit shares of the download activity after receiving only 7% and 3% of the action, respectively.
While WynnBET’s September app activity was consistent with August’s single-digit download rate, Penn National Gaming’s Barstool Sportsbooks had climbed to the two-digit market share club in August. In August, the Penn National Gaming Barstool mobile betting app received 12% of the download,s a performance attributed to its entry into new states, namely Tennessee, Virginia, and Colorado.
More USA Sportsbook Market Numbers
To offer more insight into the boom of sports betting app downloads, GeoComply, a Geolocation services firm, also recently shared some market stats. According to the company, there were 330 million geolocation transactions over September, the debut month of the NFL season, representing a tremendous 122% year-over-year surge.
Looking into October, Morgan Stanley has already given a sneak peek of the first two days of the month, suggesting that the positive trend could carry on through the last quarter of 2021. For those two days, the volume of downloads for sportsbook applications is as good as September, with a staggering 161% jump compared to October 2020.
Morgan Stanley’s research follows a range of other market surveys and research papers that have recently been underscoring the rapid growth of the USA’s sports wagering. To date, sports betting is legal in 32 states and the District of Columbia, and of the 33 jurisdictions, 29 jurisdictions have live markets up and running. Connecticut is the most recent state to launch its sports betting market and is currently conducting a week’s long soft launch before its official debut.
Before the start of the current NFL season, a survey by the American Gaming Association (AGA) revealed that a record-smashing number of Americans – at 45.2 million, had plans to place wagers on the football games throughout the season. Compared to 2020, this is a 36% upsurge, and the number is expected to get bigger, given that more states will soon be launching their regulated sports betting markets.