Top U.S. Bookmakers Slash Ad Spending by 15% in 2023

The top three U.S. bookmakers — FanDuel, DraftKings, and BetMGM — spent 15% less on advertising in 2023, a report by MediaRadar revealed.

Here’s how much they cut their ad spending from 2022:

• FanDuel: 17%
• DraftKings: 13%
• BetMGM: 26%

Ad spending includes promotions on TV, social media, online ads, mobile apps, and traditional offline ads like billboards and banners. The report doesn’t count bonuses and other incentives for players.

The report says that the bookmakers spent less on ads because the gambling market is getting more stable and they don’t have to compete as hard to get new players.

But there’s one exception. The leading daily fantasy sports operator, PrizePicks, boosted its ad spending by more than four times in 2023.