“The category over the past 24 to 36 months has at times behaved irrationally,” said Ryan Maloney, VP of digital and creative at Hard Rock Digital, which launched its Sportsbook app late last year. But not every gambling app is in a grow-now mode regardless of marketing costs. Like the heated CTV streaming service market, where Netflix, Disney, Amazon, etc., are in a pitched battle for market share heedless of the cost, sports betting apps put crazy-high premiums on new users that they hope to make up in lifetime customer (gambler) value.
They each offered hundreds or thousands of dollars’ worth of free promotional incentives to download their app and make a few initial bets. In New York, where sport betting apps became legal in January, apps like Fanduel, Draftkings, Ceasar’s Sportsbook and BetMGM Sportsbook took over billboards, the TV ad market and social media feeds. Legalized sports gambling is flooding the market with betting apps, which are becoming powerhouse spenders as they seek to gain a foothold where gambling is now allowed.
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