DraftKings vs FanDuel: The Eternal Battle
You don’t need to be a betting expert to know that DraftKings vs FanDuel is an eternal battle between the two top sports betting operators not just in the United States, but in the whole of North America. As such, both of these giants dominate the US betting scene, each having a major chunk of the total US betting market share.
What is particularly interesting is that back in 2016, FanDuel and DraftKings, the two dominant fantasy sports platforms in the United States., announced their intentions to form a historic alliance.
Yet, the Federal Trade Commission blocked the agreement, citing monopoly concerns that the combined company would end up controlling a whopping 90% of the US fantasy sports market.
Just two years later, or in 2018, the UK-based iGaming giant Flutter Entertainment, back then known as Paddy Power Betfair, acquired FanDuel and integrated it with its other U.S. assets.
DraftKings, on the other hand, ended up completing a reverse merger back in 2020, a move that allowed the leading sportsbook to become a publicly traded company.
Today, FanDuel and DraftKings together control a massive 68% of the North American betting scene, and as such, they are constantly pinned one against another in pretty much every statistic and category.
With that being said, let’s have a look at how DraftKings and FanDuel compare in key statistics such as revenue, users, app downloads, etc.
DraftKings
History & Overview
| Live: | 28 March 2012 |
| Headquarters: | Boston, Massachusetts |
| Key People: | Jason Robins (CEO, Co-Founder); Matt Kalish (President of North America, Co-Founder); Paul Liberman (President of Global, Co-Founder) |
| Business Type: | Public (Nasdaq: DKNG) |
| Sector/Industry: | Gambling |
Revenue – 2018 to 2024
| Year | Revenue |
|---|---|
| 2018 | $226 million |
| 2019 | $323 million |
| 2020 | $615 million |
| 2021 | $1.296 billion |
| 2022 | $2.240 billion |
| 2023 | $3.665 billion |
| 2024 | $4.767 billion |
DraftKings Loss/Net Income
DraftKings reported an annual net loss of $507 million, another reduction in the amount but still quite a significant loss.
2018 to 2024
| Year | Loss/Net Income |
|---|---|
| 2018 | $-76 million |
| 2019 | $-143 million |
| 2020 | $-1232 billion |
| 2021 | $-1523 billion |
| 2022 | $-1378 billion |
| 2023 | $-802 million |
| 2024 | Net income/loss ($mm) |
DraftKings Users
DraftKings had 4.8 million active users in 2024, more than doubling its user base in three years.
Active Players From 2020 to 2024
| Year | Users |
|---|---|
| 2020 | 900k |
| 2021 | 1.5 million |
| 2022 | 2.5 million |
| 2023 | 3.5 million |
| 2024 | 4.8 million |
DraftKings App Downloads
DraftKings had a total of 9.9 million app downloads in 2024.
| Year | Downloads (mm) |
|---|---|
| 2019 | 1.5 million |
| 2020 | 3.3 million |
| 2021 | 6 million |
| 2022 | 7.9 million |
| 2023 | 9.8 million |
| 2024 | 9.9 million |
DraftKings Market Share In US Betting
As the two leading sportsbooks in the market, DraftKings vs FanDuel is an eternal battle about who will control more of the betting scene in the country. From here, we can conclude that both DraftKings and FanDuel control a whopping 68% of the total market, with the other sportsbook operators trailing by a large margin:
- FanDuel – 43%
- DraftKings – 25%
- BetMGM – 10%
- Caesars – 8%
- Others – 14%
FanDuel
History & Overview
| Live: | 1 July 2009 |
| Headquarters: | New York City, US |
| Key People: | Amy Howe (CEO and President), Peter Jackson (CEO, Flutter) |
| Business Type: | Subsidiary |
| Owner: | Flutter Entertainment |
| Sector/Industry | Gambling |
FanDuel Revenue
FanDuel made $4.84 billion in revenue in 2023, a number that has grown exponentially as more US states legalize sports betting.
Revenue 2019 to 2023
| Year | Revenue |
|---|---|
| 2019 | $0.49 billion |
| 2020 | $0.89 billion |
| 2021 | $1.99 billion |
| 2022 | $3.23 billion |
| 2023 | $4.84 billion |
FanDuel Money Wagered
FanDuel players have wagered $40.3 billion on sports betting and casino games in 2023 alone.
Money Wagered 2020 to 2023
| Year | Money Wagered |
|---|---|
| 2020 | $5.4 billion |
| 2021 | $13.9 billion |
| 2022 | $29.1 billion |
| 2023 | $40.3 billion |
FanDuel Users
FanDuel reached a record 3.8 million users in 2023, adding 800.000 new players in one year alone.
Active Players 2020 to 2023
| Year | Users |
|---|---|
| 2020 | 0.9 million |
| 2021 | 1.5 million |
| 2022 | 3 million |
| 2023 | 3.8 million |
FanDuel Downloads
Players have downloaded the FanDuel app 9.5 million times in 2023.
Annual Downloads 2019 to 2023
| Year | Downloads (mm) |
|---|---|
| 2019 | 1.3 million |
| 2020 | 2.6 million |
| 2021 | 5.4 million |
| 2022 | 7.8 million |
| 2023 | 9.5 million |
| 2024 | 10.8 million |
FanDuel Market Share In US Betting
As the two leading sportsbooks in the market, DraftKings vs FanDuel is an eternal battle about who will control more of the betting scene in the country. From here, we can conclude that both DraftKings and FanDuel control a whopping 68% of the total market, with the other sportsbook operators trailing by a large margin:
- FanDuel – 43%
- DraftKings – 25%
- BetMGM – 10%
- Caesars – 8%
- Others – 14%
Final Thoughts
Regardless of your personal preferences, DraftKings vs FanDuel is a battle that will rage on for a long, long time. Both of these operators are leaders in the US betting ecosystem, having the most users, biggest revenues, and most app downloads.
Considering that the US gaming scene is just starting to grow and develop, it remains to see how these two will fair in the long run, and whether someone can challenge their reign as the top US sportsbooks.
Frequently Asked Questions (FAQs)
Is FanDuel legal in Texas?
No, FanDuel is currently illegal in Texas and you cannot use its services.
Is FanDuel Legal In Florida?
Being that it is currently unregulated in the state of Florida, yes, you can use the services of the FanDuel sportsbook.
Is FanDuel legit?
Yes, FanDuel is a legitimate online sportsbook and one of the top betting sites in the US.
Who owns FanDuel?
FanDuel is owned and operated by Flutter Entertainment.
Is DraftKings down?
No, DraftKings is up and running and currently working without a problem.
How to refer a friend on DraftKings?
Simply head to the promotions section, select the Refer a Friend promo, follow the instructions, and you will have your friend playing at DraftKings in no time.
Does DraftKings work in Texas?
No, at the moment of writing, you cannot use the services of DraftKings in Texas.
What are DraftKings crowns?
Crowns are an in-house currency that doesn’t have cash value but can be used on DraftKings to directly enter into contests, and can also be used to purchase items in the DraftKings Shop
