As the mobile sports betting industry continues growing in the U.S., FanDuel has particularly seen significant success.
FanDuel is projecting full-year profitability in 2023, which would be at least a year earlier than competitor DraftKings. The company, which is owned by European-based Flutter Entertainment, believes it can multiply its 2022 revenue by five times when the sportsbook operator reaches “maturity.”
An investor presentation at FanDuel’s Capital Markets Day on Wednesday indicated that the company now accounts for 42% of the U.S. online sports gambling market in states where the sportsbook operates, nearly double the next closest competitor.
