Rock music enthusiasts Hard Rock, devoted admirers, and bet365 are emerging as a dynamic trio.
Shaking Up the US Sports Betting Scene: A Closer Look at Hard Rock, Fanatics, and bet365
In the rapidly evolving world of US sports betting, three newcomers aim to make their mark: Hard Rock, Fanatics, and bet365. Bettormetrics, a leading provider of competitive trading intelligence, has taken a deep dive into the first four months of this year's sports landscape to analyze these contenders' strategies and assess their potential impact on the market.
Bettormetrics evaluated a variety of sports across the Big Four US leagues (MLB, NBA, NHL, NFL), the Australian Open in tennis, and the English Premier League, examining major players such as FanDuel, DraftKings, BetMGM, Caesars, BetRivers, ESPN BET, Fanatics, Hard Rock, and bet365.
Four key metrics for Moneyline Markets were considered: Uptime, Overround, Shading Time, and Green Time. Let's break down these terms:
- Uptime: The proportion of the match that each bookmaker has betting lines available for at least one selection.
- Overround: The sum of the implied probabilities for each bookmaker's market odds, representing their expected return on turnover.
- Shading Time: A Bettormetrics proprietary statistic, outlining the proportion of a fixture during which a bookmaker's prices deviate significantly enough from the market average, potentially creating unprofitably priced selections.
- Green Time: The proportion of the match during which a bookmaker has betting lines available for at least one selection while none of those selections are deemed unprofitably priced.
DraftKings and FanDuel currently dominate the US online sports betting market, taking more than two-thirds of the nation's handle and close to 80% of GGR. However, three brands are worth keeping an eye on: Fanatics, Hard Rock, and bet365.
Fanatics has seen considerable market share growth over the past few months, rising from a 5.2% handle share last year to 6.7% in the latest quarter. Hard Rock is seeking to expand beyond its Florida monopoly, while bet365 is making headlines after exiting several markets, sparking rumors of an upcoming sale or IPO.
Bettormetrics research reveals how these three operators are setting themselves apart from the leaders in their in-play trading strategies:
- Uptime: Fanatics put themselves at the top of the leaderboard, sometimes even outpacing both FanDuel and DraftKings. ESPN Bet, bet365, and Hard Rock also feature prominently, while Caesars and BetMGM fall behind by 5-7%.
- Shading Time: Across all sports, bet365, Hard Rock, Fanatics, and Caesars posted higher shading time figures compared to Penn's ESPN BET. Notably, bet365 struggled the most in NBA and NFL markets, while Fanatics distinguished itself in its NBA offering, and Hard Rock stood out in tennis markets.
- Green Time: DraftKings held the top spot in this category due to strong performances in Uptime and Shading Time. Fanatics' market-leading Uptime allowed it to outshine a number of brands, including FanDuel. Hard Rock and bet365 both landed in the high 70% range.
- Overrounds: bet365 kept a tight rein on pricing, averaging 5.3% across all competitions, while BetRivers and ESPN BET were at the softer end of the market.
Robert Urwin, CEO and co-founder of Bettormetrics, commented on the findings, stating, "The US sports betting market is heating up as rival operators look to differentiate themselves to close the gap. Fanatics, Hard Rock, and bet365 are each utilizing unique strategies to make their mark in this competitive landscape."
Sports Trading Analyst at Bettormetrics, Alfie Arrand, added, "Our technology and access to quality data sources allow us to dive deep and offer insights on the trading strategies of competing sportsbooks. While DraftKings and FanDuel continue to lead, the US market is far from a two-horse race."
Stay tuned for more updates on the evolving US sports betting scene as these challenger brands continue to push the boundaries and close the gap with market leaders DraftKings and FanDuel. Follow our Telegram channel for the latest news and analytics in the industry.
(Enrichment Data:)
- Hard Rock:focuses on a regional approach with a strong presence in Florida, leverages regional advantages, and maintains a balance between uptime and green time.
- Fanatics: excels in Uptime, boasts cross-sell opportunities through non-betting channels, maintains competitive pricing, and offers a slightly higher overround compared to DraftKings.
- bet365: relies on its global experience, sharp pricing strategies, and frequent line removal during uncertain phases to ensure competitive odds, while operating with a lower-than-average overround.
In the assessment conducted by Bettormetrics, Fanatics, Hard Rock, and bet365 have shown distinct in-play trading strategies that set them apart from market leaders DraftKings and FanDuel. Fanatics dominates in Uptime, often surpassing both DraftKings and FanDuel, while Hard Rock performs well in tennis markets with a balanced approach to uptime and green time. bet365 showcases sharp pricing strategies and frequent line removals during uncertain phases, ensuring competitive odds with a lower-than-average overround. Furthermore, Fanatics boasts cross-sell opportunities through non-betting channels and maintains competitive pricing with a slightly higher overround compared to DraftKings. The US sports betting market is becoming increasingly competitive, with these challenger brands pushing the boundaries to close the gap with market leaders.
