The Cashout: What DraftKings, ESPN Bet Earnings Taught Us About Their Users

TCL will offer market analysis in the US gambling space in The Cashout every Friday for paid subscribers; with a news roundup for free subscribers as well. The weekly post will focus on metrics in the US market as well as regulatory and legal developments as events warrant.

We had both DraftKings and Penn Entertainment report Q3 earnings this week. Below is some of what we learned about what users are doing at both of the online gambling operators.

Before that (and before the paywall), here are some quick hitters in the news:

• A California tribe and a Las Vegas resort inked a partnership. More on the tieup between Pechanga Resort Casino and The Venetian Resort Las Vegas here.

• There are signs of optimism that Minnesota could legalize sports betting next year.

• Five men were indicted in New York for their roles in allegedly running an illegal sportsbook.

• There are some new questions about injury reporting in the NFL after comments from the Philadelphia Eagles’ head coach on the status of starting quarterback Jalen Hurts.

• Doesn’t sound like the WWE will be embracing gambling on its matches at legal sportsbooks.

DraftKings

Let’s start here; DraftKings missed on Q3 estimates and revised 2024 full-year guidance downward; no one was very excited about any of that, and the stock dropped. But DKNG 0.00%↑ rallied today to move above $40 again. Today I am just here to talk about what we learned about users.