ESPN Bet and Fanatics are making significant headway with key demographics in the US sports betting market, despite DraftKings and FanDuel's dominant 70% market share.

Morgan Stanley's third biannual sports betting survey reveals that ESPN Bet leads among young bettors (ages 21-34) with 44% market share, slightly ahead of bet365 at 43%. Meanwhile, BetMGM and Caesars Sportsbook dominate the baby boomer segment, largely due to their connection with physical casinos and rewards programs.

Young bettors (21-34) are particularly valuable to operators because they:

• Place more frequent bets (60% bet 3+ times weekly vs. 47% average)
• Make larger wagers ($58 average vs. $49.50 overall)
• Prefer high-margin parlay bets (60% favor parlays and same-game parlays)

Baby boomers tend to be more conservative, averaging $31 per sports bet.

Female bettors are emerging as a significant market segment:

• Represent nearly one-third of all US sports bettors
• Place larger average bets than men ($51.10 vs. $48.60)
• Favor Fanatics (39% market share) and Caesars Sportsbook (38%)
• Make up 22% of both DraftKings' and FanDuel's user base

Morgan Stanley suggests operators should expand parlay marketing beyond young bettors, given these wagers' high hold percentages and positive impact on industry growth.

Note: Some social media users have questioned Fanatics' female user statistics, suggesting possible manipulation through account sharing, though this practice affects multiple operators in the industry.

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