A new study shows that during the six-month period ending in October, Caesars Entertainment’s brand awareness among radio listeners in markets where sports betting is legal grew by over 113 percent, compared with 40 percent for the second-place sports betting operator, WynnBET.
The study, conducted by MARU/Matchbox and commissioned by the Cumulus/Westwood One Audio Active Group, looked at 21 national sportsbook operators and how far they have penetrated the national consciousness.
Overall, DraftKings, at 73 percent, and FanDuel, at 69 percent, have the most brand awareness, but both companies were stagnant over the six-month period.
Perhaps the biggest takeaway from the non-legal states is how much growth is to be expected in brand awareness among sportsbooks once a state authorizes them.
“I used to have a college roommate that would tell me he was going to kick my ass one day whenever I would ‘borrow’ food and my answer was always ‘well, until that day,’” Demetri Ravanos, assistant content director and editor for Barrett Media, told the news site US Bets. “I feel like that is the answer here (for how much growth there is).
“Sports radio is riding high on gambling money right now. Will that money cannon run out of ammunition at some point? Yeah, but until that day, we’re living like Caligula. Honestly, I could see this leading to new stations launching to take advantage of all the money out there before I could see sportsbooks stop spending.”
Michael Harrison, the publisher of Talkers magazine, agreed, telling US Bets, “Radio is a powerful advertising medium to establish brand awareness of competing betting platforms,” Harrison said. “The radio listener who bets on the games is as interested in learning about the sportsbooks as stock market investors are in knowing about competing brokerage firms. Sportsbook advertising will continue to grow as an advertising bonanza for radio.”
