Overcoming challenges to its legality, a failed merger with rival DraftKings and the Covid-19 pandemic, it has since grown to roughly $850 million in expected net revenue, 9.5 million customers and 43% of market share in states where gambling is legal during Q3, according to today’s announcement. market.”įanduel was initially founded in 2009, offering a daily variant of the traditional fantasy sports games available. “And this transaction is really about accelerating Flutter’s investment in the U.S. “Sports betting is still relatively young as an industry, but we’ve managed to build a great leadership position being the first operator to go north of $1 billion of gross gaming revenue that we’re projected to do this year,” FanDuel CEO Matt King says. With six more states passing bills to legalize and two others with active bills on the floor of state legislatures, that number is poised to grow-and FanDuel along with it.
The industry drew $13 billion from American bettors legally in 2019, according to the American Gaming Association. Since the Supreme Court declared the Professional and Amateur Sports Protection Act unconstitutional in May 2018, sports gambling has become fully operational in 19 states and Washington, D.C.
