Ollie RingFlutter Entertainment’s US facing brand FanDuel has hailed an ‘exceptional’ 2022, claiming it holds over 50% of the US sports betting market share in states where it is live. FanDuel claims to be number one in 15 of the 18 states where it is live.
“We have an unparalleled number one position in the US where we continue to go from strength to strength” – Peter Jackson, CEO.
Flutter also added it has a 21 percent online gaming market share, but believes it can become more competitive on that front in coming years.
The US arm of Flutter recorded a 49% year-over-year increase in average monthly players, up from 1,557,000 to 2,319,000. Revenue for the group increased 67% year-over-year, recording £2,604m in 2022 over £1,391m in 2021.
The operator hailed its launch into Ohio sports betting and Maryland sports betting as its most successful yet. It holds 50 percent of the Ohio sports betting apps market after a month, and 52 percent of Maryland.
Other operators of note in the US include:
- DraftKings
- BetMGM (Entain)
- Caesars
- Barstool
- FOX Bet
- PointsBet
- WynnBET
- Bet365
- Betway
- Betfred
Given the substantial amount of cash that has been divulged on marketing and promotional, early results would suggest that Flutter, and FanDuel have got it spot-on.
Interesting stats around product mix were that 86 percent of all active FanDuel bettors have placed a parlay in 2022, and the hold across the US was an encouraging 10.6 percent.
The company also boasted $900 million more revenue than DraftKings, the nearest competitor, but doing so with only a third of its losses.
Peter Jackson, Chief Executive commented:
“Flutter delivered a strong performance in 2022, continuing to execute on the strategic priorities we outlined last March. Growth in our recreational customer base delivered 2022 revenue growth of 27% and we ended the year with a record 12.1m average monthly players in Q4.”
“We have an unparalleled number one position in the US where we continue to go from strength to strength. The combined power of the ‘FanDuel Advantage’ and the ‘Flutter Edge’ delivered our most successful launches to date iin Maryland and Ohio. Leveraging our number one FanDuel brand we had a record Super Bowl and have acquired over 1.2m customers in 2023 so far”
“We have a clear strategy to improve our igaming performance and grow our podium position, through increasing our focus on casino direct igaming customers and improving our product range and player experience. Although it is early days, we are pleased by the progress to date.
“Q4 customer player days were 1.5 times the comparable period last year benefiting from the introduction of our FanDuel casino daily reward machine in Q3. Flutter exited the year with 63% growth in Q4 igaming AMPs and a 21% share of the Q4 iGaming market, with FanDuel Casino sharing three percentage points higher than in Q4 2021.”
FanDuel will be hoping for the legalization of sports betting in Texas, and online casino in New York – two of the commercial operators big hopes for an even bigger success in 2023.
This article was written for Business 2 Community by Ollie Ring.
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