Why do the highest 4 on-line sportsbooks have 80-90% of the market share in just about each state it’s authorized in US?

Here’s a supply of 1 such scenario

I dont actually use their merchandise since I dont gamble. And it’s powerful to search out information as a result of a lot of the information on-line is bearish on all the sector or one of many prime 4 who occur to be in that 90% market share. By their stability sheets after which making the case in opposition to that particular firm or sector. If this was every other sector folks would take a look at that prime 3 or 4 and name it an oligopoly that would proceed to dominate the market. However for some purpose on-line sports activities betting is one the place folks assume the 12+ corporations with the remaining market share will take over the sector.

Does anybody know why the highest 4 have the 90% of the market share within the first place? Which may assist me to know if the competitors with the remaining 10% can actually overtake them. Or possibly what does the remaining 10% have that places the highest 4 vulnerable to being disrupted?