FanDuel Maintains Leadership Position, Suggests JMP Securities

Within the flourishing legal betting market in the United States, there are two major operators constantly competing for dominance, FanDuel and DraftKings. The two hold an estimated 80% of the legal betting sector in the country, reaffirming their unquestionable leadership position.

Now, according to a new report, while competition between the duo continues, FanDuel is designated as an unquestionable leader in market share for April. JMP Securities recently released its Proprietary Online Sports Betting Dataset, highlighting the operator’s dominant position within the betting vertical, as announced by NEXT.io.

Per the newly released JMP Securities data, FanDuel held a leadership role in sports betting market share with 37% in April, leading DraftKings by 1%. Over the last year, FanDuel posted results that were on par with the sole exception being September when the company’s sports betting market share was only 34%, the lowest result for FanDuel for the year.

A year-over-year comparison to April 2023 showed a slight 1% decrease in FanDuel’s market share.

On the other hand, DraftKings’ sports betting market share this April was 36%. This result signaled an increase of 3% year-over-year considering that in April last year, the company reported a 33% market share.

“Overall, we see FanDuel, BetMGM, and Sportradar as best positioned in Q2,” explained JMP Securities, adding that DraftKings’ iGaming market share marked a dip when compared to the first quarter.

The latest announcement comes at a time when media outlets suggested that FanDuel may replace Bally’s as the naming sponsor for Diamond Sports Group. Reportedly, the company is in final talks for finalizing a naming rights agreement with Diamond Sports for 18 regional sports networks.

The Company Reports Sports Betting GGR Market Share Dominance

Focusing on sports betting gross gaming revenue (GGR) market share, FanDuel retained its dominance in April. The company reported a 48% sports betting GGR market share, beating DraftKings’ 33% result.

A year-over-year comparison showed identical results for FanDuel, while DraftKings reported a 2% increase when compared to its result from April 2023.

A month-over-month comparison uncovered that DraftKings’ result was on par, although in February, the company reported an increase of 40% in sports betting GGR market share.

On the other hand, FanDuel’s sports betting GGR market share increased in April when compared to March and February when the company reported 45% and 42% respectively.