FanDuel Moves Forward in the US Sports Betting Market

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FanDuel maintained its lead as the leading online sports betting operator in the United States during the third quarter of 2021. The company released a financial report last week.

FanDuel reigns supreme in the United States

From July to September, FanDuel had a 42% market share in online sports betting and an 18% market share in online games in the United States, according to Peter Jackson, CEO of Flutter Entertainment.

FanDuel is a subsidiary of Flutter of the United Kingdom, a company listed on the London Stock Exchange.

In a November earnings call, Jackson said the company was “very pleased” with its third quarter performance in the United States.

Flutter’s overall revenue in the United States rose 85% to $ 386 million, according to its Q3 2021 business update. FanDuel accounted for 94% of that total.

Encouraging figures

FanDuel enjoyed a strong second quarter 2021, gaining a 45% stake in the rapidly growing online sports betting market from April to June.

DraftKings, BetMGM, Caesars Sportsbook and others are also part of this market. Mobile sports betting is legal in 22 states, with more expected to follow suit next year.

New Jersey’s $ 1.3 billion sportsbook volume in October showed that sports betting popularity is peaking at an unprecedented rate. Over 90% of this total came from mobile betting.

NFL increases betting handles in US states

FanDuel has benefited from its association with the National Football League in the United States, Jackson added. The NFL announced official relationships with FanDuel, Caesars Entertainment and DraftKings Sportsbook in the spring. NFL games have historically been among the most-bet sporting events in the United States, with the season-ending Super Bowl at the top of the list. This year’s Super Bowl takes place on February 13 in Inglewood, California’s SoFi Stadium.

FanDuel, among others, has access to “in-game and post-game highlights instantly accessible on its sports betting and fantasy sports platforms,” ​​according to the NFL website. FanDuel released third quarter results on time with the start of the NFL preseason games in August and the start of the regular season in September. College football also started in late August and early September.

Jackson noted that the NFL season opener has proven to be very competitive for sportsbook providers, with many “free money” offers. Finally, he argued, FanDuel’s offers are what keep punters coming back.

“At the end of the day, what people want are amazing things, and we have the best items in America, which is why customers keep coming back to our platform,” Jackson explained.

Expansion of sports betting

Jackson also expressed optimism about FanDuel’s growth prospects in the United States. He added that the organization plans to expand to seven more states next year. FanDuel is currently available in 18 states, including the most recent, Arizona.

The New York State Gaming Commission cleared FanDuel and eight other online bookmakers earlier this month to offer mobile sports betting in the nation’s fourth state. DraftKings, BetMGM, Bally’s Corporation, Caesars Entertainment, Wynn Resorts, PointsBet Holdings, Rush Street Interactive and Genting’s Resorts World are the other operators. Officials in New York City expect mobile sports betting to be up and running in time for the Super Bowl.


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