The only way to succeed in the US is to be one of the top 3 players in the market, and whilst PBH have set their sights on 10% market share which is flawed from the outset, the reality is that they are at 3.7% and going backwards every day. Furthermore, comparisons of PBH to fluctuations in the share price of the big players like Draftkings is nothing short of comical.How many people have actually looked at the growth trajectories of Fanduel (42% market share) and Draftkings (24% market share), and BetMGM (15% market share) and wondered why they are so vastly different to PBH?
This is exactly why I don't believe the bullshit coming out of PBH anymore
Your numbers suggest those 3 hold 80% of the market.
Now I'm no expert on the US sports betting, but my research indicates there are about 40 or so online sports operators in the US. Outside the top three that means the remaining 37 operators (including PBH) are competing for the remaining 20% of the market. Please do not even suggest PBH can take market share from the top 3--that is just rubbish.
If PBH is not profitable with its current market share of 3.7% then what does it think it needs to be profitable, 5%, 10%, 15%. One thing is for sure, if PBH still thinks it's going to get 10% (which is 50% of the remaining 20%) competing against the other 37 operators they better be doing something very special and all the while they are winding back spending!
(20min delay)