Jamie Foxx in a wig. Kevin Hart clowning around with LeBron James. An urgent sense that there’s a giant pile of money free for the taking—if only the right parlay is placed.
This NFL season, sportsbooks are leaning on tried-and-true advertising strategies to entice new and old customers to pony up, and they’re buoyed by bigger ad budgets than last year.
DraftKings, FanDuel, and BetMGM, the three largest sportsbooks in the US, bought more linear TV ads from August 15 through the first three weeks of the NFL season this year than in the same period last year, according to data from measurement firm iSpot.
- DraftKings spent an estimated $36.4 million, up 22% compared to the same period last year.
- FanDuel spent an estimated $27.1 million, up 14%.
- BetMGM spent an estimated $11.5 million, just shy of its 2023 spend over the same time period.
As a whole, spending in the casinos and gambling category is up 13.5%, according to iSpot. (It’s worth noting here that iSpot only measures linear TV ads and doesn’t factor in regional ads or ads on streaming platforms, where Amazon, Paramount, Peacock, and soon Netflix, stream NFL games, or social media.)
The start of the NFL season, when even Jacksonville Jaguars fans are optimistic, is a critical time for sportsbooks, Matt Prevost, chief revenue officer of BetMGM, told Marketing Brew.
“This is when many sports-betting customers decide which brands they are going to bet with over the course of the season,” he said. “Industrywide, you’ll see more advertising in the month of September than you will see in any other month outside of the Super Bowl.”
Read more here.—RB
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