{"id":285710,"date":"2023-08-17T16:43:23","date_gmt":"2023-08-17T21:43:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=285710"},"modified":"2023-08-18T12:52:18","modified_gmt":"2023-08-18T17:52:18","slug":"draftkings-adding-igamng-sports-betting-market-share","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-adding-igamng-sports-betting-market-share\/","title":{"rendered":"DraftKings Gaining OSB Market Share, According to Stifel"},"content":{"rendered":"

The U.S. sports betting landscape is essentially a duopoly controlled by Flutter Entertainment\u2019s (OTC: PDYPY) FanDuel and DraftKings (NASDAQ: DKNG), and it appears as though the latter is gaining market share.<\/p>\n

\"DraftKings
DraftKings stock highlighted at the Nasdaq market site in New York. The company is gaining iGaming and sports betting market share. (Image: Twitter)<\/figcaption><\/figure>\n

In the second edition of Stifel\u2019s “Online Gambling Monthly Tracker,” analyst Jeffrey Stantial says U.S. online sports betting market share continues consolidating among FanDuel and DraftKings, with the latter recently notching small gains.<\/p>\n

DraftKings has been the primary winner, with June data showing another step function in handle share (partially offset by unfavorable hold) reflecting the improved product-driven customer retention into MLB season,\u201d<\/strong> wrote the analyst.<\/p><\/blockquote>\n

Flutter recently told investors that in the first six months of 2023, FanDuel had a 47% share<\/a> of the regulated internet sports betting market in the U.S. DraftKings is next on that list, and combined, those two operators control about 75% of the U.S. market.<\/p>\n

DraftKings, Others Making iGaming Gains<\/h2>\n

Sports wagering garners more headlines because it\u2019s allowed in far more states than iGaming. But the latter is widely viewed as the more significant future growth driver of the gaming industry.<\/p>\n

In that segment, there are signs of deconsolidation, with operators such as Caesars<\/a>, DraftKings, and FanDuel all pilfering some share from BetMGM.<\/strong><\/p>\n

\u201cOn the iCasino front, we’ve talked to recent deconsolidation trends in recent reports with DraftKings, FanDuel, and Caesars (to a lesser extent) taking share, primarily from BetMGM,\u201d added Stantial. \u201cThis month, we highlight the first M\/M increase in MI market share for BetMGM, following seven consecutive months (~5%) of market share contraction.\u201d<\/p>\n

Specific to DraftKings, that company\u2019s 2022 acquisition of Tilman Fertitta\u2019s Golden Nugget Online Gaming (GNOG) positioned it for iGaming success. Today, the operator is a leader in several of the states in which GNOG was operational prior to the transaction.<\/p>\n

Near-Term iGaming, OSB Items of Note<\/h2>\n

Stantial points to several iGaming and sports betting factors investors should watch over the near term.<\/p>\n

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