The bid submitted by DraftKings is being considered by PointsBet shareholders. The deal would have allowed Fanatics to expand its reach to the 14 states in which PointsBet has been awarded online wagering licenses.ĭraftKings responded to Fanatic’s bid with a $195 million offer of its own for PointsBet’s U.S. Last month, Fanatics - which launched wagering in January 2023 - agreed to purchase PointsBet’s U.S. Gaining groundĭraftKings’ willingness to stunt the growth of competing operators is evident in the company’s pursuit of PointsBet's U.S. There has also been evidence of similar pricing for boutique markets like ATP and WTA Tour tennis.

Sportsbooks, including DraftKings and FanDuel, have had recent similar pricing for USFL and WNBA events.

sporting events, according to Propus Partners. Caesars Sportsbook also saw its market share fall in May from 6% to 5%, while Barstool Sportsbook - which is owned by PENN Entertainment - had a 1.9% share compared to 2.6%.ĭespite the discrepancy in market share amongst operators, there has been uniformity in pricing for U.S. In May, BetMGM had a market share of 9.9%, down from 11.1% for the same period last year. DraftKings has also seen its growth impact the market share of other competing sports betting operators outside of FanDuel. Meanwhile, the company emerged as the highest revenue-generating operator in New York through the first two weeks of June, surpassing FanDuel. In May, DraftKings generated 51% of all gross gaming revenue in Massachusetts. DraftKings has been able to hinder FanDuel’s growth through its market access in Massachusetts and New York - America’s largest online betting market. behind longtime rival FanDuel.ĭraftKings’ ability to make gains in its reach over the past year has come at the expense of other online betting sites across the more than 30 states that have authorized sports betting.Īs of last month, FanDuel has a market share of 45.1%, compared to a 45.5% share last year. The company’s increase in market share makes it the second-largest sportsbook in the U.S. A major legal sports betting operator is expanding its reach at the cost of its competitors.ĭraftKings has roughly 32% of the online sports betting market in America as of May 2023, up from a 27.7% share in the last twelve months, per Earnings+More.

Sports betting industry dollars