From CNBC: 2024-09-03 12:00:01

Football fans are excited as U.S. adults are projected to bet a record-breaking $35 billion this NFL season. Despite the growth in sports betting, stocks of major gambling companies like DraftKings and Caesars are down for the year. While new innovations and partnerships are being utilized to attract more customers, the competition among licensed sportsbooks is heating up as they strive to grab a larger share of the market during the NFL season. Fanatics Sportsbook, a newcomer in the industry, has already expanded its operations to 22 states and relies on its existing base of 100 million sports fans for customer acquisition.

Penn Entertainment is set to showcase ESPN Bet, its rebranded sportsbook created in partnership with Disney-owned ESPN, for its first full NFL season. BetMGM recently launched the first single wallet for mobile play in Nevada, allowing customers to use their accounts in both Las Vegas and other BetMGM markets seamlessly. Despite stock struggles, companies are optimistic about the potential growth and success of their digital offerings in the sports betting market.



Read more at CNBC: NFL season expected to spur record $35 billion in legal sports wagers