Sports Betting Trends and Consumer Engagement Insights

The growing interest in sports and betting reflects consumers' desire for participation and information.

### The Growing Intersection of Sports Betting and Consumer Engagement
* 🏈 There is a prevailing belief that the outcomes in NFL betting are increasingly customer-friendly, with recent performance showing that **favorites often win** and **star players excel**.
* 📈 In Q3, the company reported neutral outcomes but managed to **exceed expectations**, indicating a strong performance where "**customers are winning**," which is beneficial for **long-term engagement**.
* 💡 The company noted a significant improvement with a **300 basis points year-over-year increase** in promotional rates and gross margins, alongside a **20% decrease in customer acquisition costs** for the quarter.
* 🗳 With the U.S. election approaching, there is a noticeable consumer interest in betting, even on election markets, reflecting a **cultural shift where people enjoy participating in predictions and speculations**.
* 📜 The company expressed interest in expanding beyond sports betting, but emphasized that any move would be in **compliance with legal and regulatory standards**, particularly for **election-related betting**.
* 🏛 Legalization efforts at the state level are crucial, as demonstrated by Missouri's recent approval of sports betting, marking it as the **18th state to do so**, which is expected to **enhance the betting landscape**.
* 📺 The transition from linear television to online streaming is seen as a **tailwind for the betting market**, as increased access to sports content allows consumers to **engage more actively**, fueling the **growth of the betting industry**.
* 🌍 Overall, the intertwining of sports viewership and betting is part of a larger trend where consumers are **better informed and eager to participate**, contributing to the industry's **expansion both in the U.S. and internationally**.

DraftKings Would Expand Outside of Sports If Legal: CEO

Welcome to the Bloomberg Technology YouTube channel. Subscribe for original series and mini-docs on game-changing technologies, profiles on innovators, live conversations with experts, and breaking technology news & analysis from Bloomberg TV.

Bloomberg Technology

Customer-Friendly Outcomes in NFL Betting

The company's Q3 results were neutral, with a beat expected, as favorites won and big-name players scored.

The current quarter has seen customers winning, which is beneficial for the long-term relationship.

Strong fundamentals are evident, with improvements in promotional rates, gross margin percentage, and a 20% decrease in customer acquisition costs.

The Growing Trend of Betting and Its Legalization

Betting has become a cultural phenomenon, with people wanting to participate by making predictions and sharing their viewpoints.

The speaker considers expanding into non-sports markets, but only in a legal and regulated manner.

The push for legalization is primarily happening at the state level, with Missouri recently passing a ballot initiative to legalize sports betting.

Missouri's Sports Scene and Betting Markets

Missouri is the 18th largest state and has a strong sports fan base, with excitement for upcoming sports initiatives.

The transition from linear television to online streaming is influencing consumer options for watching and paying for sports.

This trend is seen as a tailwind for betting markets, as the growing interest in sports is driving more bets being placed.

The Interconnection of Sports Viewing and Betting

The increasing accessibility of global sports is driving growth in the betting industry.

Consumers now have more information and diverse viewpoints, leading to a greater desire for active participation.

This megatrend of easier access to information is contributing to the continued growth of the betting industry both in the US and internationally.