The battle for the biggest fantasy sports provider in America has a new king. DraftKings has officially surpassed their rivals at FanDuel to take over the top position, and it’s in large part to their acquisition by the Golden Nugget in 2023. Since that purchase, DraftKings has experienced a steady growth.
DraftKings now possesses a 31% share of the American online gambling revenue, besting FanDuel by a single point, as they sit at 30%. However, if we adjust those numbers to exclude online casino games and just focus on just sports betting, DraftKings lead jumps to nearly 40% compared to a FanDuel share of just 34% share.
It also helps that there are now 36 states with regulated sports betting, translating into an industry that has grown to be worth over $10 billion a year, according to market research. FanDuel, on the other hand, was purchased by Flutter Entertainment back in 2018. That relationship with the Irish company, and their financial backing, initially put them in the lead here in America.
Industry observers, including the market research team, believe this changing of the guard is do to several factors. First, the fact that FanDuel has lost of its “first-mover advantage” when it comes to sports betting and same-game parlays, with their competitors now offering similar bets. Additionally, DraftKings has done very well with the online casino side of the business in the state of New Jersey.
One of DraftKings founders, Matt Kalish, stated that while they enjoy seeing themselves int he top position, no one at the company is close to satisfied with the results just yet.