40% market share: FanDuel walks tall through 2021
Group poised for further growth in 2022.
FanDuel has continued to ride the wave of success in the American market, a fact evident in its preliminary results for 2021.
The statistics paint a salubrious picture of the gaming operator. It maintains the number one position in the country in terms of market share: for the sportsbook, it was 40% in the fourth quarter, and in the online casino sphere, it has 20%. Altogether, this averages out to 31%.
Revenue grew by 113% to $1.9bn. This was 50% more growth than its nearest competitor.
FanDuel, which is a subsidiary of Flutter Entertainment, was able to contribute $14m to its parent company.
In a harbinger of things to come, the company lauds its fast rates of adoption of sports betting in states where it has recently gone live. It also was able to announce numerous partnerships with sports teams and the NFL and NBA.
With this strong performance humming along, FanDuel is on track to achieve a positive EBITDA in 2023.
Comments from Flutter Chief Executive Peter Jackson proudly summarized a strong performance for FanDuel: “In the US, we delivered over $1.9bn in revenue, leveraging our differentiated product proposition to remain the number one sportsbook in the market with a 40% share.
“Despite our scale we retain a challenger mindset; this year we launched a number of new features to our market-leading same game parlay product, maintaining our competitive advantage in sports. I’m also pleased to see the progress on our path towards profitability; FanDuel sportsbook and gaming business delivered positive contribution in 2021 for the first time, a significant milestone for the brand.”
The new year is already looking bright. FanDuel has launched in two new states – Louisiana and New York – and in the latter of these (which has become the country’s largest market) the group already has 400,000 new customers.
Gaming America’s sister publication, Gambling Insider, was able to speak to FanDuel CEO Amy Howe about its ambitions to inrease its role in the American market. You can read that interview here.
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