Draftkings, the US sports betting and fantasy sports contest operator, has reached its Q3 revenue goal, announced in August: The company’s earnings for the third quarter of 2021 amounted to $213 million.
Draftkings already reached a 60% year-to-year increase compared to $133 million revenue in 2020.
“DraftKings had a strong third quarter that highlights our team’s unique ability to drive engagement with our core customers while simultaneously launching new states and verticals and completing the complex migration to our own in-house technology ahead of schedule,” said the Draftkings’ CEO and co-founder, Jason Robins. “Since migrating, we have rapidly added innovative features and functionality to our top-ranked mobile sports betting app. We are also excited that our new growth initiatives, including DraftKings Marketplace and our content and media business, demonstrated promising early results in the quarter.”
The operator’s expansion to Wyoming and Arizona in September was perfectly in sync with the start of the NFL season. A month later, Draftkings launched an online betting operation in Connecticut, after the state legalised gambling operations of online casinos and betting venues in October.
Draftkings had a 31% increase in monthly unique players, now estimated at 1.3 million.
Key performance indicators continued to grow, as the average revenue per unique player rose by 38% per month. The Draftkings CFO, Jason Park, said that the company’s revenue would have been $40 million higher if the outcomes of final NFL games were different.
Draftkings also narrowed their revenue estimate for 2021 to between $1.24 billion and $1.28 billion, from its earlier $1.21-9 billion range.
The forecast for 2022 puts expected earnings somewhere between $1.7 billion and $1.9 billion. This is in line with market estimates predicting 43% growth compared to this year, as the company is looking to also expand to the UK, besides further working on the US infrastructure.