DraftKings reports quarterly record $1.5bn revenue for Q2 2025, new highs in net income and adjusted EBITDA

DraftKings has released the figures behind its financial performance for the second quarter of 2025, generating a quarterly record of just over $1.5bn in revenue as well as a new high in net income with a total of $157.9m for the period. 

The operator’s adjusted EBITDA was also the highest recorded for any quarter in DraftKings’ history, reaching $300.6m throughout the period for an increase of 134.9% year-over-year. DraftKings’ revenue and net income for Q2 2025 grew 37% and 147.5%, respectively, from the prior year period. 

“We set records for revenue, net income and Adjusted EBITDA in the second quarter, driven by an acceleration in revenue growth to 37% year-over-year,” DraftKings Co-Founder and CEO Jason Robins said. 

“We are pleased to be maintaining our fiscal year 2025 guidance, with revenue expected to be closer to the high end of our range, highlighting the strength of our platform as we prepare for an exciting new state launch.”

DraftKings reported a Q2 2025 sports betting handle of nearly $11.5bn, equating to an increase of 6.3% from the prior year period, as sportsbook revenue accounted for $997.9m of the operator’s total revenue for the period and grew 45.3% year-over-year. 

The operator’s iGaming revenue was reported to be $429.7m for the second quarter of 2025, representing an increase of 22.6% from the prior year period, while Other Revenue grew 26.8% year-over-year to account for $85m throughout the period. 

Good to know: DraftKings began imposing a $0.50 transaction fee for all mobile and online sports wagers placed in Illinois following a similar decision made by Flutter, the owner of FanDuel, in response to lawmakers increasing the tax on sports wagering for operators

DraftKings will be maintaining its fiscal year (FY) 2025 revenue guidance, previously announced on May 8, 2025, of $6.2bn-$6.4bn, as the operator’s adjusted EBITDA for FY2025 is expected to fall between $800m-$900m. 

Operating income also managed to increase from the prior year period, reported to be just over $150.6m for Q2 2025 after DraftKings witnessed an operating loss of $32.4m for the second quarter of 2024. 

DraftKings stated the increase in revenue for Q2 2025 revenue was driven mainly by “continued healthy customer engagement, efficient acquisition of new customers, higher structural sportsbook hold percentage and sportsbook-friendly outcomes.”

The operator also projects a FY2025 revenue towards the higher end of its previously announced guidance due to sportsbook-friendly outcomes in the second quarter of 2025. 

On July 15, DraftKings had reportedly began talks to acquire prediction markets platform Railbird Exchange, which recently gained federal licensure. No financial terms or agreement have been reached at the time of writing, with Railbird choosing not to comment on the potential transaction while DraftKings stated it is general policy to avoid speaking on the specifics of any potential acquisition.

Kirk Geller

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