{"id":328411,"date":"2024-08-19T20:08:35","date_gmt":"2024-08-20T01:08:35","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=328411"},"modified":"2024-08-20T09:21:52","modified_gmt":"2024-08-20T14:21:52","slug":"fanduel-can-extend-us-dominance","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/","title":{"rendered":"FanDuel Can Extend US Dominance"},"content":{"rendered":"

Leadership in the US online sports betting market is often fluid and varies at the state level, but what isn\u2019t up for debate is that a duopoly comprised of DraftKings (NASDAQ: DKNG) and Flutter Entertainment\u2019s (NYSE: FLUT) FanDuel has formed.<\/p>\n

\"NFL
The FanDuel Sportsbook logo. There are multiple reasons why the gaming company can extend its lead in the US. (Image: FanDuel Sportsbook)<\/figcaption><\/figure>\n

Flutter\u2019s second-quarter earnings report<\/a> contained multiple points suggesting FanDuel can maintain and extend its expand its already dominant footprint in the domestic sports betting space. Those include favorable average revenue per monthly active user (ARPMAU) trends. As Eilers & Krejcik Gaming (EKG) points out, FanDuel\u2019s first-quarter ARPMAU was $134 compared to $137 for rival DraftKings, but during the June quarter, the tide turned in favor of FanDuel.<\/p>\n

Possible explanations in our view: FanDuel improved its Major League Baseball (MLB) parlay product (it called this out specifically at earnings), plus a relative shift of the player base from daily fantasy sports (where there was a \u2018some cannibalization\u2019 in terms of active users) to casino, where monthly unique players (MUPs) were up 30%,\u201d noted EKG. \u201cDraftKings decline, meanwhile, was likely affected by the inclusion of Jackpocket customers into its MUP number and thus the calculation.\u201d<\/p><\/blockquote>\n

Improvements to the parlay product are notable for any operator, particularly with the imminent arrival of the 2024 football season. Some studies indicate that NFL bettors are planning to wager more frequently<\/a> this year than in 2023. Parlays have long been part of operators\u2019 toolkits when it comes to spurring more betting, especially during football season.<\/p>\n

Long-Term Focus Can Benefit FanDuel<\/h2>\n

Relative to competitors such as DraftKings and some others, FanDuel has the advantage of being a unit of a larger, mature company. So while competitors are focusing on near-term profit objectives to foster confidence among analysts and investors, FanDuel can focus on long-term objectives.<\/p>\n

\n

That point isn\u2019t lost on institutional investors<\/a> in the US, many of whom have been quick to buy shares of Flutter since the gaming company listed its shares in New York in January, and later made the New York Stock Exchange (NYSE) its primary listing venue.<\/p>\n<\/div>\n

Owing to the support of a well-heeled parent and its own commendable execution, FanDuel has long been profitable and has used that cash to reinvest in the business, whether it be in customer acquisition, technology, or other areas.<\/p>\n

\u201cFanDuel noted payments costs had increased to ~6% of NGR, thanks in part to a faster deposit\/withdrawal system that meant customers were transacting more often,\u201d added EKG. \u201cThat’s costing FanDuel money, but the product payoff is worth it, per CFO Rob Coldrake, because \u2018customers love that feature.\u2019 That type of focus on product has helped FanDuel to five straight no. 1 rankings in our OSB app testing.\u201d<\/p>\n

FanDuel Smart to Eschew Surcharge<\/h2>\n

As was widely expected, FanDuel didn\u2019t follow DraftKings in announcing a surcharge on winning sports wagers in select high-tax states. In fact, when the former didn\u2019t play ball, the latter was forced to reverse course on the controversial issue<\/a>.<\/p>\n

While DraftKings scrapped plans for the surcharge, rivals such as FanDuel that passed on the opportunity may have already won the battle in the court of public opinion and beyond.<\/strong><\/p>\n

\u201cHowever we believe it was a wise move to avoid the potential backlash from customers and, perhaps more importantly, policymakers, who we suspect would not have looked kindly on any attempts to skirt paying taxes,\u201d concluded EKG.<\/p>\n","protected":false},"excerpt":{"rendered":"

Leadership in the US online sports betting market is often fluid and varies at the state level, but what isn\u2019t up for debate is that a duopoly comprised of DraftKings (NASDAQ: DKNG) and Flutter Entertainment\u2019s (NYSE: FLUT) FanDuel has formed. Flutter\u2019s second-quarter earnings report contained multiple points suggesting FanDuel can maintain and extend its expand […]<\/p>\n","protected":false},"author":46,"featured_media":236469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,1074],"tags":[81903,81871,80968],"acf":[],"yoast_head":"\nFanDuel Can Extend US Dominance<\/title>\n<meta name=\"description\" content=\"FanDuel Can Extend US Dominance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FanDuel Can Extend US Dominance\" \/>\n<meta property=\"og:description\" content=\"FanDuel Can Extend US Dominance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-20T01:08:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-20T14:21:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/\",\"url\":\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/\",\"name\":\"FanDuel Can Extend US Dominance\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\",\"datePublished\":\"2024-08-20T01:08:35+00:00\",\"dateModified\":\"2024-08-20T14:21:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"FanDuel Can Extend US Dominance.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-can-extend-us-dominance\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\",\"width\":1280,\"height\":720,\"caption\":\"The FanDuel Sportsbook logo. 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