The Future of Fantasy Sports Betting

At present, Underdog delivers its fantasy games across 41 states and its unique fantasy pick ’em games in 39 of those states. These include significant markets like California, Florida, Georgia, and Texas, which are currently devoid of competitive sports betting arenas. Florida stands as an exception, allowing this activity under the control of the Seminole Tribe.

The Current Landscape

PrizePicks, on the other hand, is available in 43 US states and some Canadian regions such as British Columbia. It offers daily fantasy sports (DFS), as well as its own innovative pick ’em games. PrizePicks allows customers to combine their picks of athletes based upon over/under points predictions against a fixed risk-reward scale.

While companies such as PrizePicks and Underdog Fantasy are yet to venture into sportsbooks, there are speculations suggesting a likely shift in this direction. Many believe these companies will emulate DraftKings and FanDuel’s success story, converting DFS enthusiasts into sports bettors.

The Success of DraftKings and FanDuel

DraftKings and FanDuel have successfully established a strong duopoly in the regulated sports betting market in the United States, using a model that effortlessly transitions DFS players into sports bettors. However, this hasn’t been without its challenges.

Initially, DraftKings and FanDuel were a haven for smaller customers. However, these platforms soon became dominated by large-level players, ‘the sharks,’ leading to customer dissatisfaction and subsequent attrition. This scenario paved the way for emerging players like PrizePicks and Underdog Fantasy.

The Response of DraftKings

Reacting to the customer churn, DraftKings is speculated to have come up with a strategy: DraftKings Cashpicks. This could potentially cater to smaller DFS players, especially in states where sports betting is not permitted. It could also pose a competitive challenge to PrizePicks and Underdog. Or, it may never see the light of day.

To further boost their appeal, these companies may consider adopting strategies from other gaming platforms. For instance, the use of sophisticated gaming software like Barcrest software can enhance user experience and engagement. Additionally, offering incentives such as cashback bonuses could further attract and retain customers.

In the end, DraftKings and FanDuel have already started to lead the way in the world of regulated sports betting. With their refined strategies, they are sure to remain leaders in this market for a long time to come. It will definitely be interesting to see how other companies make their moves and what impact this could have on the industry as a whole.