DraftKings is reportedly on the verge of achieving a significant financial milestone, potentially posting its first-ever profit in Q2, as suggested by analysts at Jefferies. This would mark a considerable change for the online sports betting and fantasy sports provider. A shift from loss-making operations to profitability often signals a significant inflection point for any company and could be indicative of a more sustainable business model. Furthermore, DraftKings has been making strides in increasing its market share. From just over 20% in Q2 of last year, DraftKings has now risen to over 30%. Deutsche Bank analysts believe that this upward trend is likely to continue, which would bode well for the company’s future financial performance.

Bet365 seems to be successfully gaining a foothold in the US market, with notable success in Ohio, but its growth strategy appears heavily reliant on promotions. Whether this approach is sustainable as the market matures and if it can maintain or increase its hold rate without such heavy promotional activity remains to be seen. While Bet365’s share of 8% puts it behind industry heavyweights such as FanDuel, DraftKings, and BetMGM, it’s noteworthy that it has surpassed established operators like Caesars, Rush Street, and Barstool in terms of market share. This indicates that Bet365’s strategy is making inroads, although it’s also resulting in high promotional costs. Bet365’s hold rate in Ohio is notable, especially if this rate can be maintained or even increased. The high hold […]