ESPN BET Targeting Female Bettors to Gain Market Share?

ESPN BET, the most anticipated sportsbook to arrive on the American scene since the 2018 Supreme Court decision to overturn its blanket ban on sports betting, is up against heavy competition for market share from many competitors in our best sports betting apps. However, it may have a way of gaining customers without necessarily bringing them over from other sports betting operators.

According to a Bank of America Global Research analyst, female bettors could provide the country's newest sports betting operator a necessary boost to its market share.

ESPN BET so far

Shaun Kelley, an analyst with Bank of America Global Research, noted that ESPN BET has performed admirably in the states in which they have a presence since its launch on Nov. 14. In some states, feelings are that ESPN BET may have outperformed expectations and that its targeting of female bettors may have had something to do with it.

According to Shaun Kelly's report, ESPN has enjoyed an estimated 10% run rate since its launch in November from a 6% handle share in the markets it had access to in November. The 10% run rate is significantly higher than the 6%-7% run rate most analysts expected from Disney's new sports betting brand.

According to Kelly, “A 10% run-rate share was achieved with limited integrations or marketing, leaving room for growth from here.”

The Female Factor

Legal sports betting reports from participating markets have failed to differentiate between male and female bettors. Until now, there has been no focus on women and their part in America's expanding legal sports betting market.

But Shaun Kelly's report has highlighted how important women bettors could be for prospective sportsbooks nationwide. ESPN BET is apparently the first to openly target female bettors to increase its market share. It seems like a good strategy that hasn't been seen yet in the American market.

Kelly states, “It’s our sense ESPN Bet could be growing the market through more casual and female bettors compared to another sportsbook. In November, ESPN’s share came from DraftKings, BetMGM, and Caesars, while FanDuel gained one point of share, which we think is driven by NBA seasonality and increased marketing.”

BetMode

ESPN BET will launch a new media app that will help convert some bettors to the Disney-owned product and will also be an excellent tool to attract new sports bettors to the market. It could act as a catalyst to bring more occasional and female bettors to the brand.

“We think ‘Bet Mode’ in the ESPN Media app will launch before the Super Bowl and could support further adoption and stickiness to ESPN Bet,” Kelley said.

The U.S. market is in constant pursuit of new products and new ideas. ESPN BET and BetMode will bring that to market and hopefully draw more attention to the ESPN BET brand.