new research report from investment banking company Morgan Stanley reports sports betting apps in the U.S. have seen a 183% year-over-year increase in downloads throughout September, with DraftKings and FanDuel topping the market. The betting platforms accounted for roughly 32% and 27% of total downloads respectively.
App downloads in the month remained strong as the NFL season launched on September 9, and due to the excitement around new states launching legal sports betting and a noticeable increase in marketing from betting operators.
The 32% and 27% app download share distribution between DraftKings and FanDuel see them recovering from 30% and 20% respectively in August, but down from July. BetMGM and Caesars Sportsbook follow in the ranking, at 12%. While BetMGM increased from a 11% share in August, Caesars dropped from a 18% share in said month.
The report confirms DraftKings and FanDuel as the two major platforms controlling the market share of the sports betting industry. Combined, both companies reported 59% of all downloads. The top four sports betting apps together reported 83% of downloads, leaving little room for new players.
Morgan Stanley also posted app download share figures for Barstool Sportsbook and WynnBET, which both posted single-digit figures: 7% and 3% respectively. It is worth noting Barstool saw a healthy one-time market share of 12% in August, most likely resulting from entering new states Colorado, Virginia and Tennessee, which it has failed to maintain during the following month.
Geolocation services company GeoComply has also shared figures supporting the sports betting app download boom. The company unveiled 330 million geolocation transactions for the first month of NFL action, a year-over-year 122% growth.
Preliminary data for the month of October suggests the positive trend might continue as the year progresses. According to Morgan Stanley, the app download volume trends are similar to those of September, up 161% year-over-year. However, it should be noted these figures correspond only to the first two days of the current month.
The new research report follows similar other studies and papers highlighting the increasing popularity of sports wagering in the country. As betting is now legal in 27 US states and the District of Columbia, with five other states working on launch, an American Gaming Association (AGA) survey released prior to NFL kickoff showed a record 45.2 million Americans planned to bet on NFL, up 36% versus 2020.