Optimove US Pulse Report May: Spike in bettors ahead of summer of sports
In this monthly column, Optimove explores the core differences between US and Latam bettors as interest ramped up ahead of major sporting events
The Optimove Insights Americas Pulse Report provides insights into recent trends and shifts in the behavior of sports bettors across the US and Latam. Optimove Insights is the analytical and research arm of Optimove, a leading CRM marketing solution for igaming and sports betting.
This month’s Optimove Insights Americas Pulse Report examines changes in deposit patterns, player behavior, and the impact of the upcoming summer of sports on various KPIs.
As sports betting operators face a summer of sports with events like Euro 2024, Copa America, and the Paris Summer Olympics, understanding these trends is crucial for optimizing player engagement and retention strategies.
For more insights visit Optimove Insights’ iGaming Pulse.
Number of new US players drops as monthly deposit amounts per player increases
In May, the trend of decreasing amount of first time depositors (FTDs) in the US continued, showing a 36% drop compared to the February baseline (chart one). However, the average monthly deposit amount per depositor increased by 37% (chart two). This is not surprising, as when new players join in on the action they wager smaller amounts, lowering the average monthly deposit amount per player.
Long-term, active depositors who play consistently, not only during peak events like March Madness, are more engaged and valuable for operators. With less new players joining the action, May offered a great opportunity to identify and recognize these valuable players and ensure their retention.
Chart one:
Chart two:
A surge in the number of sports bettors in Latam
Since the beginning of 2024, the Optimove Insights Pulse observed a global increase in the number of sports bettors, with an even more significant spike in Latam. In April and May, Latin America saw a 29-36% increase in total depositors, or sports bettors, compared to the January baseline, while the Rest of World recorded just an 11-15% increase.
The Copa America tournament, taking place in June and July, is a prime opportunity to continue this trend, boost player engagement and attract new bettors.
23% of US monthly deposits are $350 or over
The distribution below highlights that US bettors tend to make higher monthly deposits compared to Latam players. In Latam, 67% of players deposit $0-50 on average per month, whereas only 42% of US bettors fall into this range. Conversely, 23% of US bettors deposit $350 or more monthly, compared to just 9% of Latam bettors.
LATAM deposit amount spikes ahead of Copa America
The last few months have revealed an increase in deposit amounts in both the US and Latam markets.
While the US leads in average monthly deposit amounts, Latam exhibits a stronger growth trend, with a 38% increase in total monthly deposits in May compared to the US’ 20%. This growth is likely due to Latam’s lower initial average bet amounts and the excitement surrounding Copa America 2024.
The preference for smaller wager amounts among Latam players highlights operators’ need to enhance player loyalty and encourage more active, recurring participation.
71% spike in number of US sports bettors compared to 2023
The Optimove Insights Pulse observed a significant 71% increase in sports bettors in May 2024 compared to May 2023. While the overall trend is in decline due to absence of peak sporting events, the May 2024 mark is still significantly higher year over year. This behavior is likely linked to the excitement surrounding the upcoming summer sports events, including Euro 2024, Copa America, and the Paris Summer Olympics.
Over seven times more wagered via mobile compared to web
Mobile devices dominate as the preferred choice for US players, with an average of 88% of bet amounts placed via mobile compared to only 12% via web. We believe that players using mobile devices tend to be more engaged.
As we approach the upcoming peak summer sports season, operators must ensure they provide a top-notch mobile player experience to maximize their success.
Stay tuned for Optimove’s iGaming Pulse report to be published next month.