Rise of Social Sportsbooks in the US: What Challenges Do They Face?
The rise of social sportsbooks in the U.S. is creating new opportunities for casual sports bettors. But will dual-currency sportsbooks come under the same attacks as sweepstakes casinos?
When ReBet launched its free-to-play social sportsbook in 2024, it boasted a “revolutionary” sports betting experience for players. In came free-to-play “predictions” (rather than “sports betting”) and peer-to-peer interaction.
Plus, for that authentic sportsbook feel, ReBet customers were given access to the sort of real-time league data you’d expect at DraftKings or FanDuel.
How social sportsbooks got in the game
Social sportsbooks in the U.S. offer a way for casual bettors to bet on sports for free. You bet on your favorite ball team, player, or the World Cup as if you’re using a regulated online sportsbook. Oftentimes, markets are identical to those at sportsbooks, including moneyline, point spread, and totals.
There are two key differences between social sportsbooks and regulated sportsbooks: they are more widely available in the U.S. and offer more features. Plus, you can only win real money by entering ‘prediction contests’ with virtual currency, including Gold Coins and Sweeps Coins.
Sites like ReBet and Thrillzz offer sports bettors the same NFL, NBA, and MLB markets as real-money sportsbooks. Social interaction plays a part too: you can play against friends or join online communities to chat about picks and odds.
Snapshot: Major social sportsbooks in the US
- Thrillzz: Available in 35+ states, markets include NBA, MLB, NHL, leaderboards, prediction contests
- Legendz: Competitive odds, wide NBA coverage, casino games included
- Onyx: Billed as ‘America’s premium social sportsbook’, big welcome bonus
- Kickr: Large VIP program, college sports included, welcome bonus
- Fliff: Wide coverage in 41+ U.S. states, social media bonuses
Social sportsbooks face sweepstakes crackdown
Social sportsbooks could be in line for the sort of crackdowns seen on sweepstakes casinos since the start of the year. Plus, many social sportsbooks offer casino games.
California moved early in January to prohibit dual-currency sweepstakes casinos, before Indiana passed an outright ban. Maine Gov. Janet Mills signed legislation in early April to ban sweeps casinos in the Pine Tree State.
Louisiana has gone further by classifying online sweepstakes sites as “racketeering”. Big financial penalties are due to any operator caught breaking the law.
Is the end of dual-currency sportsbooks on the horizon?
ReBet and other social sportsbooks continue to operate in dozens of states.
However, with more state regulators issuing threats and bans against dual-currency sites, how much life is left in the social sportsbook?
