Market Shares Shifting: Bet365 and Fanatics Increase OSB Sector Presence at Detriment of Two Competing Brands
May 29, 2025 - Bet365 and Fanatics Gain Ground in US Online Sports Betting
In the ever-changing landscape of the US online sports betting industry, Bet365 and Fanatics are making significant strides, potentially overtaking competitors BetMGM and Caesars Sportsbook. According to an analysis by Eilers & Krejcik Gaming (EKG), these upstarts increased their combined net gaming revenue (NGR) share to a record 6%, surpassing their rivals for the first time.
Despite a slight rebound in April for the BetMGM/Caesars duo, EKG highlights that these two industry veterans have consistently ceded market share to the challengers. Notably, Bet365, with a smaller market presence, has made impressive gains. Operating in 11 states compared to the 34 where online sports betting is permitted, the UK-based operator has managed to carve a significant niche for itself.
Industry observers attribute the success of Bet365 and Fanatics to their aggressive marketing and promotional strategies, which larger players have begun to scale back. EKG suggests that Caesars Sportsbook has moderated its promotional spending, while BetMGM's activations have shown inconsistent results.
The US online sports betting market is predominantly controlled by Flutter Entertainment's FanDuel and DraftKings. However, EKG's data indicates a potential shift, with Fanatics and 365 gaining momentum. This development raises questions about strategic identity and product parity for BetMGM and Caesars, as they navigate a competitive landscape.
Meanwhile, rumors swirl around Bet365's potential sale or Initial Public Offering (IPO), with a possible valuation of up to $12 billion. Industry insiders speculate that such a move could position Bet365 for growth in the US, making it an attractive proposition for potential suitors. If sold or partially acquired by a private equity firm, Bet365 may be better positioned to expand in the US, where it currently operates in 11 out of the 34 states where online sports betting is legal.
While the future of Bet365 remains uncertain, its recent market gains in the US suggest a company poised for continued growth in this increasingly competitive industry.
- The rumors surrounding Bet365's potential sale or Initial Public Offering (IPO) hint at a valuation of up to $12 billion, which could position the company for growth in the US.
- The success of Bet365 and Fanatics in the US online sports betting industry is attributed to their aggressive marketing and promotional strategies, contrasting with the moderated promotional spending of competitors like Caesars Sportsbook.
- The shift in market share from BetMGM and Caesars Sportsbook to Fanatics and Bet365 raises questions about strategic identity and product parity for the latter duo, as they navigate a competitive landscape.
- Bet365, with a smaller market presence, has made impressive gains in the US online sports betting market, operating in 11 states out of the 34 where online sports betting is legal.
- The financial implications of mergers and acquisitions in the sports betting industry are at the forefront, as potential strategic moves, such as the sale of Bet365, could reshape the industry landscape.
