Posted on: April 28, 2022, 11:17h.
Last updated on: April 28, 2022, 11:28h.
Sports wagering is often thought of as territory dominated by men. But women aren’t sitting idly by, as a new study indicates women are downloading mobile sportsbook apps at a faster pace than their male counterparts.
A recent survey by mobile insights consulting firm Global Wireless Solutions (GWS) indicates that while more men than women have downloaded mobile sports betting apps, female adoption of the technology is growing at a much more rapid rate.
The new data shows that over 4.6 million new female users joined Sportsbook betting apps in 2021, showing 115% year-on-year growth. Though the number of male users still exceeds female by 250%, the rate of men using sportsbook betting apps grew by 63% in the same time period,” according to GWS.
Sports wagering is live and legal in 30 states and Washington, DC. But not all of those regions, such as North Carolina and Washington State, allow mobile betting. Florida, Nebraska, and Ohio are in the legal but not yet live camp.
Usual Suspects Lead Among Female Bettors
Like their male counterparts, female bettors have favorite sportsbook apps, and that group includes some of the industry’s biggest names.
“GWS found that FanDuel brought in more new US female users in 2021 than any other sportsbook gambling company, with an estimated 1.7 million women joining since the previous year. Next was DraftKings, who added an estimated 900,000 new female users,” adds the research firm.
FanDuel, a unit of UK-based Flutter Entertainment (OTC:PDYPY), is the largest online sportsbook operator by market share in the US. In the states in which it operates, DraftKings (NASDAQ:DKNG) is usually among the top three companies in terms of market share.
Because of solid brand recognition in New Jersey — one of the largest sports betting markets in the US — Rush Street Interactive’s (NYSE:RSI) SugarHouse is also popular with women.
That “company now has a higher proportion of women than men in its user base (around 54% to 46%). The company saw approximately 600,000 women sign up in 2021, compared to just under 380,000 men,” notes GWS.
The firm doesn’t mention Barstool Sportsbook, BetMGM, and Caesars Sportsbook, among others, in its report.
Other Interesting Tidbits
GWS surveyed 663 American adult gamblers. Interestingly, 29% said they lost more than they won betting on sportsbook apps. But the same percentage claim they won more than they lost. Making matters worse for the losers, many buy into the gambler’s fallacy — wagering more after losses.
“Rather than reducing the amount spent on bets or quitting altogether when they lose, the data showed that sports gamblers often doubled down, with 17% increasing the amount placed on the next bet. Other common reactions to losing money on sports bets include swearing in public (12%), getting drunk (10%) and throwing one’s phone in disgust (6%),” says GWS.
While sports betting is growing in the US, it’s also increasingly concentrated. The research firm points out the top 20% of mobile app users drive 83% of sportsbook app usage.
As for the female/male split, “70% of female app users only engage with the apps for 1-5 weeks per year, compared to 61% of male users,” according to the survey.