Gambling Industry Gears Up for ‘Arms Race’ This NFL Season
“Competition is fierce,” BetMGM CEO Adam Greenblatt said.
The gambling industry is gearing up for a fierce battle this NFL season. As the World Cup concluded and left a significant mark on the industry, executives from major companies preparing for the upcoming NFL season report record activity. Prediction-market platforms, such as Kalshi and Polymarket, saw a $20 billion volume during the World Cup, surpassing the previous record set by the 2024 U.S. presidential election.
Penn Entertainment CEO Jay Snowden predicts a "arms race" this year, as many prediction-market platforms launched NFL event contracts only after Super Bowl LX. This event alone saw more than $1 billion in prediction-market trading volume. Traditional sports betting expert's estimate around $1.76 billion in legally wagered money for the Super Bowl.
Truist analysts suggest that 70% of Penn’s online sportsbook users made at least one bet during the World Cup, and 45% of those were first-time soccer bettors. This could provide a positive tailwind for the re-engagement into the NFL season.
BetMGM CEO Adam Greenblatt also noted the intense competition, especially due to the rise of prediction markets. FanDuel's parent company, Flutter Entertainment, plans to boost its prediction-market product in time for the NFL season, integrating it into a unified app that combines traditional sports betting, casino, fantasy sports, and prediction-market offerings. With the World Cup setting high expectations for traditional sports betting, the NFL season is expected to determine the final performance.
Written by urgent.news from Front Office Sports's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
