FanDuel’s US sports betting dominance laid bare in latest revenue figures
FanDuel is crushing its competition in the US online sports betting market, according to the latest revenue figures from Eilers & Krejcik Gaming.
According to the June edition of the boutique research firm’s US Sports Betting Market Monitor, FanDuel accounted for more than half of all nationwide online sports betting GGR in the month of April at 53%.
This means the Flutter Entertainment-owned operator generated more revenue than the other 54 online sports betting brands that are currently active in the US, combined.
The vast majority of the remaining 47% of overall sports betting GGR will likely have been generated by just three rivals: BetMGM, DraftKings and Barstool Sportsbook.
“FanDuel’s increased dominance – particularly during the lesser contested NFL offseason months – is an indication of its growing ability to capture share more easily,” said E&K.
“If that trend continues, we may see – as we have recently with Resorts, TwinSpires and theScore – more of the smaller online sports betting operators bow out of the market.”
Potential reasons for FanDuel’s dominance in the market include a superior product portfolio and the fact they were first to market with Same Game Parlay functionality.
More than one source has also suggested to iGaming NEXT that FanDuel is reaping the benefits of general incompetence from other companies in the sector.
In April 2022, @FanDuel generated more U.S. OSB GGR, per our (@EilersKrejcik) estimates, *than all other brands combined* (for ref, there are 54 of them). FanDuel's NY results in April—61% GGR share buoyed by above-market gross hold—were a driver of its national outperformance. pic.twitter.com/hH8bC0OYFW
— Chris Krafcik (@CKrafcik) June 15, 2022
As detailed in the tweet above from E&K MD Chris Krafcik, FanDuel’s performance has been bolstered by securing an even more impressive market share in the state of New York.
In April, the brand occupied a 61% market share based on revenue in New York after generating $63.6m of the state’s $104.1m in overall operator GGR.
That market share figure dropped to 58.2% for FanDuel in May. The operator currently competes alongside seven licensees in the Empire State.