SectorWire
SearchRegister
MenuClose

Jefferies analyst says ESPN Bet expands sports betting market

Business

Jefferies analyst David Katz said in an October 4 investor note that ESPN Bet was attracting customers from the ESPN audience and expanding the US online sports betting market. In a survey of 302 avid sports bettors, 32% used ESPN Bet and 92% of those users said it was their first sportsbook; Katz said product improvements would be needed to challenge FanDuel and DraftKings.

Operators and investors may weigh the survey findings against reported product weaknesses and competition from market leaders.

End-of-day close PENN Entertainment (PENN), USD, to 18 November 2024
Story date20 August 202418 November 2024

Latest reported results

DraftKings NASDAQ: DKNG

Quarter ended 30 September 2026

Revenue
USD 1.33bn10-Q filing 0001883685-26-000041
Operating income
−USD 493.1m10-Q filing 0001883685-26-000041

Request a correction

Flag an issue

Keep reading

Business

Bank of America analyst assesses US prediction markets’ sports betting outlook

Bank of America analyst Shaun Kelley said US prediction markets could expand into sports betting and warrant monitoring by online operators and investors. He identified a forthcoming CFTC roundtable and an expected ruling on Crypto.com’s sports contracts in late March or early April as potential adoption catalysts. Polymarket offers more than 400 sports markets, while Kalshi offers more than 40, according to the report.

Continue reading