Sportsbook companies increased advertising expenditure during football season

Posted on: December 29, 2023, 03:18h. 

Last updated on: December 29, 2023, 03:18h.

US sportsbook operators have been boosting their advertising efforts during the 2023 football season, with a notable increase in spending on TV ads. According to estimates from EDO Ad EnGage, from Sept. 1 through Dec. 26, sports betting advertising spending on television increased by 10% to $237.8 million. Sports gambling impressions also rose significantly, reaching 20.7 billion. These changes are happening due to new entrants such as ESPN Bet and Fanatics and the commitment of incumbents like DraftKings and FanDuel to investing more in advertising.

TV ad spending by sportsbook firms was up significantly during this period, as football is the most popular sport for betting in the US. Furthermore, operators are eager to promote new offerings, such as in-game wagers and same-game parlays (SGPs).

Change in Advertising Spending Patterns

While traditional TV broadcasts and sports networks remain significant for sports betting ads, the landscape is changing. For instance, Amazon Prime’s Thursday Night Football streaming attracted substantial ad revenue from sportsbook operators, reflecting evolving advertising trends.

Sportsbook operators are also increasing their ad spending on non-sports networks, including TBS, FXX, truTV, Discovery Life Channel, and American Heroes Channel. These networks offer unique access to diverse audiences for sports betting advertisers.

Impact on Different Networks

Sportsbook operators spent less on ESPN compared to the previous period, with ad spending also reduced across Fox, NBC, and a few other networks. However, this trend was not universal, as CBS maintained its advertising spending for Sunday NFL afternoon programming, indicating its continuing appeal to sportsbook operators.

Source link

Leave a Comment