ESPN BET Sets Download Record

ESPN BET was downloaded 1.1 million times in the six days leading up to November 20, according to JMP Securities, which referenced data from digital intelligence company Sensor Tower. In contrast, FanDuel previously had 468,000 app downloads in a six-day period, setting the previous record. FanDuel needed five weeks to reach the same download levels as ESPN BET did during the week of November 20, while spending a lot on advertising. According to a research report by JMP Securities analyst Jordan Bender, it took six weeks for one company, DraftKings, to cross the threshold, and 14 weeks for Caesars Sportsbook.

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Over the course of that week, ESPN BET dominated the App Store charts, which is an online marketplace created and managed by Apple Inc. On one of the days, ESPN BET had almost 180,000 downloads in total. Only two other days in the post-PASPA era ranked higher, according to JMP. On Super Bowl Sunday of last year, DraftKings had the most downloads, slightly surpassing FanDuel’s totals on the same day in 2022. App downloads from ESPN BET briefly held the top spot in the App Store for almost 100 hours during the week of November 20. ESPN BET often outperformed ChatGPT, Google, Temu, an app for commerce, and Lapse.

Ever since PENN Entertainment and ESPN announced the creation of ESPN BET in the summer, the firms have promoted live streaming, media cross-selling, and fantasy synergies as strategies to increase viewership throughout the ESPN network. Although Bender noted that the app functions well, it might take some time for it to be integrated with other parts of ESPN’s operations. The Chiefs vs. Eagles Monday Night Football game included an ESPN BET commercial starring SportsCenter anchor Elle Duncan.

Although the download numbers first seem promising, some analysts cautioned against being unduly optimistic in their initial assessments. One reason is that some of the downloads from last week were from users who had wagered on Barstool Sportsbook, PENN’s former sportsbook brand. Additionally, conversion rates between downloads and first-time deposits are not included in the numbers.

The EKG Line analysts with Eilers & Krejcik Gaming speculated that the downloads should be viewed cautiously, particularly during a launch week. Remember that ESPN BET debuted in 17 states, which is different from normal launches where operators launch in each state separately. Over the course of the next six to nine months, there will be better measurements when the following features—early payouts, featured/trending bets, a parlay hub, and streaming capabilities—may be added.

Bender is waiting for more concrete proof of ESPN BET’s long-term sustainability in the weeks leading up to March Madness. By then, the operator’s promotional efforts will probably be less intense after the early launch excitement. True market share and retention numbers, according to Bender, “won’t be evident until after the Super Bowl as the company pulls back on [spending].”