IGT's President of Sports Betting shared his opinions about the US wagering industry’s prospects in 2024. Joe Asher talked about local frontrunners, promising strategies, trendy products and other aspects in North America.
Sportsbook Markets: Current State and Leaders
The expert mentioned that this year will hardly bring any large-scale shifts in the legislation for bookmakers across the United States. This is because the main focus of 2024 in the country is the upcoming elections.
However, the following areas still have a chance for change:
- Georgia;
- Missouri;
- Minnesota.
Mr Asher also considers Texas and California territories that could make a difference and significantly impact the US sportsbook sphere. Nevertheless, there are no signs of potential modifications there for now.
A notable occasion promises to stir up the state of Nevada as Las Vegas will host the Super Bowl in 2024. Mr Asher said that last year, the popular event took place in an area with regulated sports betting, Arizona, for the 1st time, and it was a big step forward. However, Las Vegas promises to further enhance the experience.
The specialist thinks that the current leaders in the segment — DraftKings and FanDuel — will continue to hold their top positions. Nevertheless, there may be some shifts in terms of market shares.
IGT’s representative listed several developing brands in the region:
- bet36;
- ESPN;
- Fanatics;
- BetMGM.
Some of them have big plans regarding marketing, investment, product improvement, etc. Thus, these promising companies can grab a significant part of the overall segment share.
In terms of the retail niche, IGT PlaySports has gained great results thanks to close cooperation with tribes. An additional factor that contributed to the brand’s success is its status as FanDuel's exclusive platform supplier in the North American region.
Mainstream Strategies of Operators in 2024
The expert is confident that gambling managers will take a course on attracting more players to their projects in already legalised jurisdictions throughout the year. Another beneficial task, which entrepreneurs should put their focus on, is reducing promotion costs.
Mr Asher also predicts that many land-based casinos will strive to expand their offerings by incorporating sports betting options. Such a strategy proved to be successful as it helps gaming venues attract a wider audience, sell more drinks and other supplementary products, etc. Americans love athletic disciplines so it is advantageous for operators to use this interest.
One of the good examples is IGT PlaySports' gambling machine PeakBarTop. It combines diverse entertainment:
- video poker;
- wagering options;
- popular casino titles.
The participants can enjoy various amusement offerings via a single device and wallet. This improves the user experience and attracts different player groups. The cabinet debuted in Wisconsin last year, and now, it is spread across various destinations, including Nevada’s properties.
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