Brief • 2 min Read
In 2018, the Supreme Court ended a federal ban on sports betting. Since then, 36 states and Washington D.C. have legalized sports gambling. As legalization spreads, online sportsbooks, such as FanDuel and DraftKings, continue to gain in consumer esteem and use.
Starting fall 2021, the NFL allowed sportsbook brands to run national ads during season games, and ads for sportsbook brands have featured prominently in the past two Super Bowls. These changes have significantly increased Americans’ familiarity with online sportsbook brands.
Using QuestBrand data, we’ve tracked FanDuel’s brand equity over the past few years to see how consumers’ estimation of the sportsbook has increased as it gained recognition and use. Brand equity captures the value that consumers see in a brand at a particular moment in time. It is an average of four components – brand familiarity, perceived quality, purchase consideration, and perceived momentum.
FanDuel’s Trended Brand Equity Jan 2021 – February 2023 Among US Adults and US Adults in States Where Sports Betting is Legal – 12 Week Moving Average
Base: General Population of US adults (grey). 1/1/21-3/1/23, n=47,337. Base: States where sports betting is legal (as of 3/1/23) (blue). 1/1/21-3/1/23, n= 21,900
The graph above tracks FanDuel’s brand equity data from January 2021 through February 2023 across two consumer groups – Grey: overall US adults (ages 18+), Blue: US adults in states where sports betting is legal.
The data illustrates how FanDuel’s brand equity has been steadily increasing as more states legalize sports betting, and as online sportsbooks have been increasingly advertised during NFL games. Perhaps unsurprisingly, we can also see that FanDuel’s brand equity is significantly higher in states with legalized sports betting.
As more states continue to legalize sports betting, and professional sports leagues allow sportsbook brands to advertise during their games, we can expect FanDuel’s brand equity to continue to rise. It’s clear that FanDuel is going places.
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