While DraftKings and FanDuel dominate the U.S. online sports betting market with a combined market share exceeding 70%, other operators like ESPN Bet and Fanatics are gaining traction among valuable customer segments.

ESPN Bet’s Appeal to Younger Bettors

According to Morgan Stanley’s latest biannual sports betting survey, ESPN Bet is particularly popular with the 21-34 age demographic, capturing 44% of users in that group—just ahead of bet365, which holds 43%. The survey, which polled 3,000 sports bettors across various demographics, highlights ESPN Bet’s appeal to younger audiences.

Meanwhile, older bettors prefer operators like BetMGM and Caesars Sportsbook. Their integration with land-based casinos allows customers to earn tier credits and loyalty points redeemable at physical properties, making them a natural fit for baby boomers.

Why Younger Bettors Are a Strategic Priority

The focus on attracting younger bettors is intentional. This group places more frequent wagers—60% of 21-34-year-olds bet at least three times per week, compared to the overall average of 47%. They also bet larger amounts, with an average wager of $58, versus the $49.50 average across all age groups. In contrast, baby boomers average just $31 per bet.

Younger bettors are also drawn to parlays, especially same-game parlays. Around 60% of respondents in this demographic said parlays are their preferred type of wager. Given the high margins on parlays, Morgan Stanley suggests operators broaden their marketing focus beyond younger bettors to maximize profitability.

Women Emerging as a Key Market

Women now account for nearly one-third of the U.S. sports betting market. Fanatics leads in capturing this segment, holding a 39% share among female bettors, followed closely by Caesars Sportsbook at 38%. DraftKings and FanDuel report that women make up 22% of their user bases.

Interestingly, female bettors tend to place slightly larger bets, averaging $51.10 compared to $48.60 for men. Despite skepticism on social media, where some speculate these accounts might be linked to male bettors facing restrictions, Fanatics’ success with women remains notable.

Industry Implications

The growing engagement of both younger bettors and women signals a shift in the sports betting landscape. As operators adapt their strategies to appeal to these demographics, the competition for market share is intensifying, creating opportunities for brands like ESPN Bet and Fanatics to carve out their own niches.

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