July US Sports Betting Market Monitor: FanDuel in control with 47% of national market share

Each month, Eilers & Krejcik Gaming releases its US Sports Betting Market Monitor.

Gathering data across the 60 online sports betting brands active in the US, the report offers an in-depth snapshot of the market on a national and state-by-state level.

Below are some of the latest standout market figures, analysed through to May 2022, presented in partnership with iGaming NEXT.

National online brand performance: estimated GGR by brand

Flutter Entertainment-owned FanDuel’s market dominance is laid bare in the report, with estimates that the brand accounts for 46.6% of all GGR in states where online sports betting is operational.

DraftKings is estimated to sit comfortably in second place, with some 20.2%, while BetMGM and Caesars account for 14.1% and 7.5%, respectively.

Further brands which accounted for more than 1% of GGR are BetRivers, Barstool Sportsbook and PointsBet, which generated 2.9%, 2.8% and 2.6%, respectively.

That means just seven brands – out of a total 60 operational online sports betting operators – have been able to secure market share of more than 1%, with the remaining firms competing for the leftovers.

With estimates suggesting those seven brands account for 96.7% of GGR combined, the remaining 53 brands have little more than 3% of the overall market to secure.

State-by-state sports betting GGR leaderboard

Rankings of the leading brands in each US online sports betting market show that FanDuel tops the leaderboard in 14 out of 21 states. New York is shown to be the operator’s most lucrative market, generating some $185.8m in GGR over the previous three months.

In five of the seven states where FanDuel does not hold the leading position – Arkansas, District of Columbia, New Hampshire, Oregon and Rhode Island – only one online sports betting brand is available via a market monopoly. Those are Betly, GambetDC, DraftKings (in both New Hampshire and Oregon) and Sportsbook Rhode Island, respectively.

The other two states where FanDuel failed to top the leaderboard were Nevada and Wyoming, where Caesars/William Hill and DraftKings took first position, with 54% and 59% market share respectively.

New York monthly online brand performance analysis

Figures from US sports betting’s largest market, the Empire State, show how FanDuel grew its presence in the state rapidly since launching in January, culminating in a 58% GGR share. 

While Caesars was quick out of the gate in New York and dominated the market in its opening weeks, a winding down of its customer bonus scheme led to its dominance shrinking gradually as FanDuel began to take over.

In May FanDuel, DraftKings and Caesars accounted for 88% of the New York market, with the state’s other six licensed operators competing for the remaining 12%.