{"id":236034,"date":"2022-10-06T12:29:10","date_gmt":"2022-10-06T17:29:10","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=236034"},"modified":"2022-11-18T06:58:57","modified_gmt":"2022-11-18T12:58:57","slug":"igaming-market-share-dominated-by-betmgm-draftkings","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/","title":{"rendered":"Big Three Loom Large in iGaming"},"content":{"rendered":"

The internet casino<\/a> space is still in its infancy. But as is the case with many older industries, the cream is already rising to the top in terms of market share.<\/p>\n

\"iGaming\"
BetMGM and DraftKings gift cards. The two companies are iGaming market share leaders. (Image: Michigan Online Gambling<\/em>)<\/figcaption><\/figure>\n

Four iGaming operators — BetMGM, DraftKings, FanDuel, and BetRivers — command more than 5% market share. However, there\u2019s significant concentration among the \u201cbig three.\u201d<\/p>\n

The consolidation of share in the top operators resembles the even more top-heavy U.S. online sports betting market, where just 3 brands have greater than 75% national GGR share,\u201d <\/strong>said Eilers & Krejcik in the most recent edition of its bi-weekly EKG Line <\/em>report. \u201cWe note that online casino markets are generally more fragmented than sports betting thanks to more product homogeneity (e.g., similar game libraries) and lower barriers to entry for operators.\u201d<\/strong><\/p><\/blockquote>\n

BetMGM and DraftKings combine for 52.6% of the North American online casino market, while FanDuel is the only other operator with a double-digit share at 16.1%.<\/p>\n

Interesting iGaming Breakdown<\/h2>\n

FanDuel is by far the biggest online sportsbook operator<\/a> in the US, with a market share that\u2019s roughly equivalent to BetMGM and DraftKings combined.<\/p>\n

When it comes to iGaming, that script flips. BetMGM — a 50\/50 partnership between<\/a> MGM Resorts International (NYSE: MGM) and Entain Plc (OTC: GMVHY) — has 29.8% of the US internet casino market, while DraftKings is second at 22.8%.<\/p>\n

BetMGM is the largest internet casino<\/a> company in the US and the second-largest online sportsbook operator. New Jersey is one of six states that permit regulated online casino games. The others are Connecticut, Delaware, Michigan, Pennsylvania, and West Virginia.<\/p>\n

\n

While six is far fewer than the number allowing sports betting, the number of iGaming states is expected to increase in the years ahead as more states embrace new revenue-generating sources. There\u2019s already speculation that Illinois, and perhaps Indiana, could be among the next states to permit regulated online casinos.<\/p>\n<\/div>\n

Rush Street Interactive\u2019s BetRivers is in the fourth spot for iGaming market share at 9.1%.<\/p>\n

Rivals Can Make iGaming Inroads<\/h2>\n

BetMGM and DraftKings clearly have enviable positioning. But that doesn\u2019t mean competitors outside the aforementioned top four can\u2019t make inroads.<\/p>\n

As Eilers & Krejcik noted regarding online casino apps, the offerings are littered with competence, but broadly lack excellence. Said another way, operators that give bettors what they want are likely to gain market share.<\/p>\n

\u201cUpshot: the battle for online casino supremacy, from a product-quality perspective, is far from settled. We expect deeper investment in product (and, subsequently, marketing) from relative underperformers like FanDuel and Caesars, which could alter \u2014 perhaps significantly \u2014 the current distribution of GGR share,\u201d <\/strong>added the research firm.<\/p>\n

Caesars ranks fifth in iGaming market share at 4.7% — a small percentage, given that the brand is one of the most recognizable in the industry. But that small slice also implies room for growth<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The internet casino space is still in its infancy. But as is the case with many older industries, the cream is already rising to the top in terms of market share. Four iGaming operators — BetMGM, DraftKings, FanDuel, and BetRivers — command more than 5% market share. However, there\u2019s significant concentration among the \u201cbig three.\u201d […]<\/p>\n","protected":false},"author":46,"featured_media":236037,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,19],"tags":[81897,81931],"acf":[],"yoast_head":"\niGaming Market Share Dominated By BetMGM, DraftKings<\/title>\n<meta name=\"description\" content=\"Small number of companies dominate iGaming market share.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"iGaming Market Share Dominated By BetMGM, DraftKings\" \/>\n<meta property=\"og:description\" content=\"Small number of companies dominate iGaming market share.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-06T17:29:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-18T12:58:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/GC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1440\" \/>\n\t<meta property=\"og:image:height\" content=\"686\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/\",\"url\":\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/\",\"name\":\"iGaming Market Share Dominated By BetMGM, DraftKings\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/GC.jpg\",\"datePublished\":\"2022-10-06T17:29:10+00:00\",\"dateModified\":\"2022-11-18T12:58:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Small number of companies dominate iGaming market share.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/igaming-market-share-dominated-by-betmgm-draftkings\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/GC.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/GC.jpg\",\"width\":1440,\"height\":686,\"caption\":\"BetMGM and DraftKings gift cards. 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