Challenged by rival DraftKings for supremacy in the U.S. online gaming market, FanDuel ended the final quarter of 2023 with the top ranking in the domestic sports betting marketplace, according to company figures released Thursday.
The metrics provide FanDuel parent Flutter Entertainment plc with momentum heading into this month's secondary listing of its shares on the New York Stock Exchange. FanDuel ended the quarter with a 51% sports betting market share by net revenue, placing first among all sports betting app operators. On a gross revenue basis, FanDuel maintained a market share of 43%.
The company's FanDuel Casino brand remained second in iGaming rankings despite attaining modest annual gains. Last fall, Draftkings'supplanted FanDuel for top billing in the market in combined iGaming and online sports betting market share.
“In the U.S., FanDuel consolidated its sports leadership position during the peak quarter for sporting activity, while FanDuel Casino went from strength to strength,” said Flutter CEO Peter Jackson in a statement.