FanDuel sportsbook is quickly rising to dominance over American betting sites.
In the latest Gambling Compliance report, FanDuel has a significant advantage over its competitors like DraftKings and BetMGM. Its market share grew from 35% in January to an impressive 50% in May, marking its single best month ever. The popular betting site has been in the lead for more than a year, but this is the first time it has reached such a high market share.
“FanDuel continues to outperform, and the timing couldn’t be better. US sports betting is gearing up for what is likely to be the most bet-on football season in history, and FanDuel is positioning itself for a big win,” said Matias Dorta, an analyst at Roundhill Investments.
Analysts believe that if FanDual manages to attract punters that like to bet on football, baseball, and basketball, its market share could grow even further. We’re already seeing good efforts in that field. FanDuel’s app, for example, is considered not just one of the best in business but literally the best mobile betting app in the US. It is one of the main reasons for the site’s recent dominance in the industry.
“FanDuel, yet again, was the best-performing app in our 31-app testing universe. FanDuel’s app simply did everything well, and its seamlessly integrated same-game parlay product continued to resonate with our testers,” stated Eilers & Krejcik in their EKG Line report.
Only 5% of FanDuel isn’t owned by Flutter Entertainment.
Boyd Gaming (NYSE: BYD) is the minority owner, while Flutter Entertainment owns a 95% stake in FanDuel.
FanDuel Group was founded in 2009. Since then, it has operated sportsbooks across several US states like West Virginia and New Jersey. The company also runs an online fantasy sports site, casino, and sports betting platform. Since 2018 it’s been a part of Paddy Power Betfair or Flutter Entertainment as it’s now called, which helped the group expand its business across the United States.