DraftKings is making gains in the online sports betting (OSB) market, taking market share from operators below it in the rankings. In May, DraftKings controlled 32% of the market, compared to its 27.7% share in the previous 12 months. Meanwhile, rival FanDuel maintained its dominance at the head of the market with a stable 45.1% share in May. However, other operators further down the rankings, such as BetMGM, Caesars, and Barstool, saw their market shares decline in May compared to the previous 12 months. Recent data from Massachusetts and New York also indicates that DraftKings is starting to eat into FanDuel’s market leadership. In Massachusetts, DraftKings claimed the top spot in May, generating 51% of gross gaming revenue (GGR) compared to FanDuel’s 33%. In New […]

In New York, DraftKings maintained its lead in terms of gross gaming revenue (GGR) for the second consecutive week. In the week ending June 18, DraftKings generated GGR of $12.4 million, surpassing FanDuel’s GGR of $11.8 million. This follows the previous week when DraftKings overtook FanDuel for the first time in GGR. Wells Fargo analysts are optimistic about DraftKings’ future, citing the potential for a major EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) inflection. They anticipate double-digit net revenue growth for DraftKings driven by higher hold and lower promotional expenses.