PTP: Sports Betting's Investment Trajectory (and How it Hasn't Looked Like Racing's)

[Andy Asaro]

https://pullthepocket.blogspot.com/2....html?spref=tw

Excerpt:

Sports betting has done quite a bit right since being approved. They've priced the product well, (mostly) avoiding the pitfalls of -130 lines or other such nonsense; they've opened "stores" and governments have allowed the market to thrive through free enterprise; the sports betting entities themselves are sinking as much as half of their revenues back in the business, to attract customers.

It should be no surprise that even at this nascent stage they're jamming through $3B a month.

On the flip side, despite a granted monopoly on online wagering since about 2006 (along with billions of slot revenues), racing never invested with the customer in mind in the same way. 41% of of revenues into growing the top line customer base.... this sport it's likely less than 1/20th that number. When you don't invest in the customer, one day you wake up and find you don't have any.