FanDuel Named ‘Most Innovative Sportsbook’ by Sports Betting Journalists in New HPL Digital Sport Study New HPLDS study definitively ranks the most innovative operators while bringing to light the magnitude of Fanatics’ launch and the importance of in-play betting and user experience in 2023
New York, NY
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March 02, 2023 02:00 PM Eastern Standard Time
HPL Digital Sport, (HPLDS) a specialty division within Hot Paper Lantern focused on building brand, partnerships and user growth within the sports betting, sports technology and iGaming industry, today released its new study State of the Sportsbook: Media Scoreboard on Innovation. The study measures the opinions and perspective of the media who regularly write about the sports betting industry on topics like: which are the most innovative sports betting operators, the technological elements most likely to make the most impact in 2023 and which new entrants to the market can challenge current leaders in the space. To contrast the media’s opinions, HPLDS also interviewed more than a half-dozen sports betting industry consultants to obtain their views.
“In a very nascent industry like sports betting, the media hold a very important position as the group that sits across the entire market, talking to every company and executive on topics ranging from technology, new products and services, pain points, wins and innovation. While many opinions and anecdotes have been shared on who leads the market, there has never been a definitive study completed to put quantitative and qualitative data behind these ideas,” said Ed Moed, CEO of HPL Digital Sport. “As thought leaders in the space, we felt it necessary to create this content but also accentuate this data with commentary and opinions from the most respected and visionary sports betting consultants in the industry. We hope this series of studies and our Media Scoreboard become the industry standard bearer for years to come.”
When it comes to the most innovative operator, it’s FanDuel and everyone else
In a weighted ranking, the media named FanDuel as the most innovative sports betting operator in a landslide, scoring 55 points. FanDuel more than doubled the points of the Second Place and Third Place finishers, PointsBet (24) and DraftKings (20), respectively. Rounding out the Top 5 list included BetMGM in Fourth Place with 9 points and Bet365, Caesars and Circa all tied for Fifth Place with 7 points.
Among new sportsbooks joining the market, the media believe 2023 is Fanatics’ year to lose
When choosing the most anticipated new entrant in the market, the media overwhelmingly chose Fanatics as the company they feel will have the biggest impact in sports betting. The potential Disney (ESPN)/DraftKings partnership came in second while Betr rounded out the top three.
Subsequently, the media survey also felt Fanatics’ announcement to officially launch its sportsbook was the top story of 2022 showing a betting operator “revolutionizing the market and leading to potential change in 2023.” Fanatics’ launch beat out other top stories including the Disney (ESPN) teaser announcement of an upcoming strategic partnership with DraftKings, DraftKings integration with Amazon’s Thursday Night Football package and FanDuel’s announcement of its pullback of promotional dollars.
The media prioritized User Experience and Engagement as the most important innovative practice in sports betting
In an industry deep in an arms race to secure new and sustainable users, when given a list of the most innovative practices, the media found User Experience and Engagement to be the industry’s top priority, followed by:
User Experience and Engagement
Product Differentiation
Development of Next Generation Technologies
Fiscal Responsibility
Brand Development
Strategic Partnerships
Influencer Deals
In-play betting seen as the innovation most likely to gain momentum in 2023
In-play betting secured 42%, and the majority of the response, from the media as the innovation most likely to gain momentum in 2023. While in-play betting drew the most attention, other imminent innovations mentioned highlight the expanding betting ecosystem and capabilities users can begin to expect to gain traction in the near future including, the evolution of sports betting content (17%), universal wallet (8%) and the gamification of sports betting (8%).
“The consultants we interviewed all agreed with the media’s assessment of the sports betting innovation landscape. However, adding to the media’s perspective, the consultants warned this is not the time for any company, new entrant or incumbent, to rest on their laurels,” said Moed. “Innovation isn’t about winning the moment but a mindset of continuous improvement. The companies and sportsbooks who will make moves on our Scoreboard in the future will undoubtedly have a deep focus on the end user experience, as well focusing on any real ways each can be unique in its own value proposition to sports bettors.”
The State of the Sportsbook is the first industry study collecting the data and opinions of the sports betting media and the most influential industry consultants, as well. HPLDS was the first to capture the data behind needs, behaviors and wants of the emerging sports bettor in its flagship study, The State of the New Sports Bettor in 2020. In 2021, HPLDS was the first company to obtain data and insights from sports betting executives in its State of the Sports Betting Industry: User Expectations vs. Executive Realities study.
The study was conducted between Jan. 12-23, 2023, leveraging the insights of more than two dozen top-tier business and sports betting trade reporters covering the business of the sports betting industry.
About HPL Digital Sport
HPL Digital Sport is a specialty division focused on the sports betting, fantasy, and igaming spaces within Hot Paper Lantern, a multi-disciplined brand, marketing and communications firm. We build brand relevance and thought leadership, while driving growth for sports betting, fantasy and sports technology companies through our core capabilities of branding, public/media relations, performance marketing, social media and sophisticated design. www.hpldigitalsport.com
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