FanDuel surges ahead in US sports betting market

FanDuel surges ahead in US sports betting market

FanDuel has 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 US

From July to September, FanDuel held a 42 percent market share in online sports betting and an 18 percent market share in online gaming in the United States, according to Flutter Entertainment CEO Peter Jackson.

FanDuel is a subsidiary of the United Kingdom’s Flutter, a publicly-traded company on the London Stock Exchange.

On a November earnings call, Jackson stated that the company is “very delighted” with its third-quarter performance in the United States. 

Flutter’s overall income in the United States increased by 85 percent to $386 million, according to its Q3 2021 Trading Update. FanDuel accounted for 94 percent of that total.

Encouraging Numbers

FanDuel had a robust second quarter of 2021, gaining a 45 percent stake in the fast-rising 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 sports betting volume in October has shown that the popularity of sports betting is peaking up at an unprecedented pace. Over 90% of that total came through mobile wagering.

NFL boosts betting handles across 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 heavily bet sporting events in the United States, with the end-of-season Super Bowl topping the list. This year’s Super Bowl will take place on Feb. 13 at Inglewood, California’s SoFi Stadium.

FanDuel, among other things, has access to “in-game and post-game highlights instantly accessible within its sportsbook and fantasy sports platforms,” according to the NFL’s website. FanDuel released the third-quarter results in time with the commencement of NFL preseason games in August and the start of the regular season in September. College football began in late August and early September as well.

Jackson remarked that the opening of the NFL season turned out to be highly competitive for sports betting providers, with numerous offers of “free money.” Finally, he argued, FanDuel’s offerings are what keep bettors coming back.

“Ultimately, 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 voiced optimism about FanDuel’s growth prospects in the United States. He added that the organization plans to expand into seven additional states next year. FanDuel is currently available in 18 states, including the most recent addition, Arizona.

The New York State Gaming Commission licensed FanDuel and eight other online bookies earlier this month to provide mobile sports betting in the country’s fourth-largest 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 expect to get mobile sports betting operational in time for the Super Bowl.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.