Top Betting Brands' Ad Spending Approaches $1B

Against the backdrop of the Super Bowl to be aired this weekend -- a major sports betting event for fans -- sports wagering and gambling brands continue to increase their spending to nearly $1 billion in 2023 across all media platforms, according to MediaRadar.

The top four brands -- FanDuel, BetMGM, DraftKings and PrizePicks -- were responsible for over 60% of $1 billion spend, with nearly $508 million in TV, 4% higher than in 2022, according to the media research company.

Four brands spent a collective $90 million on last year’s Super Bowl game.

Still, three of the four major brands pulled back some in 2023 in TV: FanDuel’s media spend on TV was down 17%; BetMGM’s TV pulled back 26%; DraftKings, 13% lower.  The only one to see an increase -- PrizePicks  -- was up 411% from a year ago.



Overall sports betting media spend -- including TV, paid social, display, connected TV, mobile, podcast, native platforms  - were down for the four major brands by at least 15% in 2023, according to MediaRadar. 

The biggest of the group -- FanDuel -- dropped media spending by 15% across digital, print, and linear TV. But it posted spending hikes in connected TV, paid social, and other media. 

Most sports betting companies focus much of their spending in the fourth quarter -- especially with NFL and college football content, as well as NBA content -- and through the first month and half of the year, due to the NFL playoffs and the Super Bowl.

Another TV research company -- EDO Ad EnGage sees this somewhat differently -- especially in regards to its TV metrics. It includes at least premium streaming service, Amazon Prime Video, which accounted for an estimated $57.9 million in 2023 in sports gambling advertising. 

EDO Ad EnGage estimates FanDuel spend $157.7  million on TV (up 18%); BetMGM, $45 million (37% higher); DraftKings, $122.9 million (up 23%); and PrizePicks $30.5 million (412.5% more).

Overall EDO estimates online sports betting on TV was up 21% to $402 million in 2023.

1 comment about "Top Betting Brands' Ad Spending Approaches $1B".
Check to receive email when comments are posted.
  1. Ben B from Retired, February 5, 2024 at 7:45 p.m.

    99% those sports betting website/apps the house always wins that is how they roll, I'm not into betting/gambling of any kind just not my thing to lose money I'd rather spend & save money then lose it on gambling or betting. The thing is have a limit on how much you will gamble and once the money is gone your done betting & gambling. Don't take anymore money out to keep gambling & betting for losing the amount you already lost.

Next story loading loading..