DraftKings Gaining OSB Market Share, According to Stifel

The US sports betting landscape is essentially a duopoly controlled past Flutter Entertainment’s (OTC: PDYPY) FanDuel and DraftKings (NASDAQ: DKNG) and it appears as though the latter is gaining market place share.

In the second edition of Stifel’s Online Gambling Monthly Tracker, psychoanalyst Jeffrey Stantial that US online sports betting market place portion continues consolidating among FanDuel and DraftKings with latter latterly notching small gains.

DraftKings has been the primary winner, with June information showing another stair map in handgrip part (partially countervail past unfavourable hold) reflecting the improved product-driven customer holding into MLB season,” wrote the analyst.

Flutter lately told investors that inwards the first six months of 2023, FanDuel had 47% share of the regulated cyberspace sports betting market place in the US. DraftKings is next on that listing and those deuce operators controller nigh 75% of the US market.

DraftKings, Others Making iGaming Gains

Sports wagering garners more headlines because it’s allowed inwards far more states than iGaming, but the latter is widely viewed as the to a greater extent substantial time to come growing device driver of the gaming industry.

In that segment, thither are signs of deconsolidation with operators such as Caesars, DraftKings and FanDuel pilfering some portion from BetMGM.

“On the iCasino front, we’ve talked to recent deconsolidation trends inward recent reports with DraftKings, FanDuel, and Caesars (to a lesser extent) taking share, primarily from BetMGM,” added Stantial. “This month, we highlight the for the first time M/M increment in MI market portion out for BetMGM following 7 sequent months (~5%) of market deal contraction.”

Specific to DraftKings, that company’s 2022 acquisition of Tilman Fertitta’s Golden Nugget Online Gaming (GNOG) positioned it for iGaming success. Today, the operator is a leader inward several of the states inwards which GNOG was operating(a) prior to the transaction.

Near-Term iGaming, OSB Items of Note

Stantial points to several iGaming and sports betting factors investors should look on o'er the near-term.

“1) the Nov set in motion of PENN’s ESPN Bet & associated marketing/promotional campaign, 2) Fanatics’ desegregation and rollout of the acquired Pointsbet platform, 3) the launch of a standalone Caesars iCasino app, 4) DraftKings’ rollout of in-house priced NFL live SGP this season, 5) BetMGM’s integrating of Angstrom Sports and related improvements to parlay & in-play product, and 6) WynnBet and George Fox Bet closures (collectively only if LSD-MSD% securities industry share),” concluded the analyst.

Fanatics launched its mobile sports betting yesterday inward iv states. For now, promotional disbursal inward the manufacture is rational, but there are concerns that with the accounting entry of Fanatics and the looming set in motion of ESPN Bet past William Penn Entertainment, promotional spending could increase.

Stantial observed that increased outlay could arrive, but it’s unlikely to mirror the levels seen inward later(a) 2021 and the firstly half of 2022 that spooked investors.

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