DKNG & MTN Inflections; Sports Ecosystem Tracker Strongest Since February; NKE In-Store Monitor Inflecting Positively While Online Monitor Continues Acceleration: The Optimal Sports Section

By David Katzman and David Schick and Jonathan Feeney and Jack Hermann Published on July 29, 2026 PDF

Sports Ecosystem spending trends built on recent momentum this week, our sector equity indices broadly gained against a declining market, and our latest NKE analysis finds improvement across channels.

Summary: (1) Sports Ecosystem revenue tracker accelerated further to +2.6% T8W y/y, its strongest reading since late February, led again by Sports Betting & Data at +15.9% T8W y/y; (2) Sports equity indices sharply outperformed a down market, with the Equal-Weight (+3.2% w/w) and Cap-Weighted (+2.7% w/w) indices both advancing against a -1.2% w/w decline in the S&P 500 and every subindex gaining, led by Sports Betting & Data (+6.5% w/w); (3) DKNG spending ran up +23.9% T8W y/y and digital traffic ran up +16.8% T8W y/y, both inflecting positively, while MTN spending is down -32.0% T8W y/y and inflecting further negatively with digital traffic down -11.8% T8W y/y and also inflecting negatively; (4) NKE US digital traffic accelerated further to +19.5% T16W y/y, our Online Monitor reached +19.3%, its highest since early February 2023, the In-Store Monitor inflected positive, and monthly sentiment improved materially; (5) GRMN share price is up +19% today following earnings; GRMN had featured in last week’s Sports Section as we noted strong spending and traffic trends.

The Optimal Sports Ecosystem Index revenue tracker accelerated further to +2.6% T8W y/y (vs. +1.6% T16W), up from +2.1% last week and its strongest reading since late February, marking a sixth consecutive positive week. Sports Betting & Data spending accelerated sharply again to +15.9% T8W y/y (vs. +11.7% T16W), up from +13.8% last week on +13.3% transactions and a +2.3% ticket increase and remains by a wide margin the strongest sub-index. Sports Fandom spending decelerated modestly to -10.5% T8W y/y (from -10.3% last week) on -10.9% transactions, partially offset by a +0.4% ticket increase. Sports Participation spending also decelerated to -7.6% T8W y/y (from -6.9% last week) on a -13.5% drop in transactions, partially offset by a +6.9% ticket increase.
Sports equity indices sharply outperformed a down market this week. The Equal-Weight Optimal Sports Ecosystem Index (+3.2% w/w) and the Cap-Weighted Optimal Sports Ecosystem Index (+2.7% w/w) both outperformed against a -1.2% w/w decline in the S&P 500. Every subindex gained, led by Optimal’s Sports Betting & Data Index (+6.5% w/w), followed by the Sports Fandom Index (+3.6% w/w) and the Sports Participation Index (+2.2% w/w).
DKNG (+): Spending is up +23.9% T8W y/y and inflecting further positively (+4.3% vs. longer-term trend), with digital traffic up +16.8% T8W y/y and inflecting sharply positively (+11.2%).
MTN (–): Spending is down -32.0% T8W y/y and inflecting sharply negatively (-14.3% vs. longer-term trend). Digital traffic turned negative at -11.8% T8W y/y and is also inflecting sharply negatively (-13.4%).
Weekly NKE Analysis: US digital traffic accelerated further (+19.5% T16W y/y in the most recent week, up from +17.6% last week and -3.7% in mid-March), and global digital traffic continues to accelerate (+9.4% T16W y/y vs. +8.5% last week). Optimal’s Online Monitor accelerated further to +19.3%, its highest reading since early February 2023, while the In-Store Monitor inflected slightly positively to +0.3%.

Headlines

Headline: FIFA reportedly plans to create a $20B subsidiary to run the World Cup and other events and to open the subsidiary up to private equity, sparking a new battle with European soccer and prompting EU antitrust concerns.
- Link: FIFA’s private equity push sparks new battle with European soccer powers
Headline: Prime Video will take over Wednesday night NHL broadcasts in Canada from Rogers under a 12-year deal, carrying at least 26 regular-season games plus playoff series in both English and French.
- Link: Prime Video lands Wednesday NHL package in Canada
Headline: Japan-based insurer Sompo signed a multiyear deal to sponsor a full-field PGA Tour event at Napa’s Silverado Resort in 2027 and then a Championship Series event in 2028 and beyond, the PGA Tour’s 2028 overhaul’s first new sponsor.
- Link: PGA Tour lands new sponsor for top-level Championship Series

Game of the Week:

Red Sox @ Dodgers (July 31st 2026 @ 10:10 PM EST): The Dodgers, owners of baseball’s best record and chasing the first three-peat since the late-1990s Yankees, host the Red Sox, the hottest team in baseball who recently tied a club record 15 straight wins, in a 2018 World Series rematch.