Flutter’s FanDuel claims to be online sports betting leader in 15 out of 18 states in which it is live

Flutter Entertainment’s US facing brand FanDuel has reported market leading positions in 15 of the 18 states in which it operates online sports betting.

The brand’s breakdown for 2022 by state is as follows:

• New York: $1,341 million and 52 percent market share

• Illinois: $760 million and 46 percent market share

• New Jersey: $720 million and 54 percent market share

• Pennsylvania: $548 million and 55 percent market share

• Virginia: $481 million and 55 percent market share

• Arizona: $417 million and 43 percent market share

• Michigan: $400 million and 45 percent market share

• Tennessee: $379 million and 43 percent market share

• Indiana: $348 million and 45 percent market share

• Ohio: $206 million and 50 percent market share

• Louisiana: $178 million and 54 percent market share

• Connecticut: $125 million and 56 percent market share

• Maryland: $108 million and 52 percent market share

• Kansas: $73 million and 59 percent market share

The three states in which is was not leader are as follows:

• Colorado: $348 million and 33 percent market share

• Iowa: $143 million and 42 percent market share

• Wyoming: $14 million and 18 percent market share

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.”

He added: “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 in 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”

The company posted positive EBITDA for the first time in Quarter 2 where there were no new state entries on the FanDuel books. Quarter 4 would also have posted a positive EBITDA were it for the promotional outlay on launches in both Ohio and Maryland. Given both states have greater than 50 percent market share, the promotional spend looks justified.

The two states in which FanDuel holds the largest market share are Kansas (59 percent) and Connecticut (56 percent). The one area that FanDuel has deemed disappointing thus far is its iGaming performance, lagging behind at just 21% of the TAM as it stands.

Analysts’ predictions suggest that iGaming and legal online casino in New York could be on the cards this year. Plus, online gaming in California and legalized sports betting in Texas may also be on the legislative cards for what could shape up to be a profound year in the history of US gambling regulation.

  This article was written for Business 2 Community by Ollie Ring.
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Author: Ollie Ring

Follow @olliering

Ollie is an experienced writer covering everything from esports to regulatory developments in the USA. He loves obscure data points and the occasional lousy parlay on 20 tennis players which inevitably loses. Hailing from the UK, Ollie finds the legislative merry-go-round in the United States fascinating and often pours over bills…

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