Top Sportsbooks are Making Waves in Various Key Demographics

Top US online sports betting platforms, DraftKings and Fanatics amount to 70% of the total wagers, but there are some prominent rivals that are making advancements in key demographics. In the third biannual sports betting survey released by financial institution, Morgan Stanley, where 3,000 sports bettors ranging in age groups were surveyed, the results were interesting.

What the Survey Revealed

Penn Entertainment’s ESPN Bet had the highest percentage of users in the 21 to 34 age group at 44%, just ahead of bet365 with 43%. On the other hand, Caesars Sportsbook and BetMGM are popular platforms among baby boomers. Both of these sportsbooks offer rewards where players can earn tier credits and points that can easily be redeemed at brick-and-mortar establishments.

Why the Younger Generation is Important

Most of the industry’s marketing is aimed at the 21 to 34 year age group, and it is no secret that they want to bring in more younger bettors. There are, however, many valid reasons for this.

60% of the bettors in the 21 to 34 age group place a bet at least three times a week, compared to 47% for all age groups. It was also noted that the 21 to 34 age group placed wagers that were larger in size – $58 compared to $49.50 by all other age groups. Notably, the baby boomers placed the lowest bets, averaging at $31 per bet.

In addition, the younger bettors are known to make many parlay bets, including same-game parlays. Roughly 60% of the 21 to 34-year age group said that same-game parlays are their favorite type of bet to make.

An Increase in Women Bettors

Another interesting factor noted by the Morgan Stanley poll is that women bettors now account for nearly a third of the overall domestic sports betting market, and the average bet size for women is $51.10, which is higher than that for men at $48.60.

Fanatics Sportsbook is pleased with this result because women account for a 39% share of its wagers, compared to Caesars Sportsbook, where women are at 38%. At DraftKings and FanDuel, women account for about 22% of the sportsbook’s client base.

Fanatics gaining a share among women bettors has brought about a lot of talk and controversy on social media platforms. It has been said that the accounts are being set up by the females’ significant other who have seen their bets being limited by the sportsbook. Fanatics is not the only sportsbook that is being accused of limiting winning bet size. Many others have been accused of the same thing.