FanDuel Finishes as Top-Performing U.S Underscoreg for 2023

FanDuel has effectively quashed any talk of DraftKings surpassing it to become the top sports betting app.

Flutter Entertainment, the parent company of FanDuel, PokerStars, Betfair, and Sky Betting & Gaming, announced their Q4 earnings report on Thursday.

The statistics clearly showed that FanDuel was the leading sportsbook in the United States in 2023, and the company’s rapid growth since introducing its legal online sports betting platform in 2018 has remained strong without any signs of slowing down.

Flutter Q4 figures

In Quarter 4, Flutter Entertainment announced strong global revenue results, totaling $2.8 billion for the period ending December 31. This marked an 11% increase compared to the same quarter in 2023.

The sports betting sector of the company contributed $1.7 billion to the total revenue, marking a $100 million increase compared to the previous year.

In the global gaming sector, Flutter’s online casinos contributed $1.1 billion to the total revenue, marking a 15% increase compared to the same period last year.

The company saw a significant increase in its average global monthly player pool, reaching 3.21 million, which represents a 38% growth compared to the previous year.

FanDuel the jewel

FanDuel significantly contributed to Flutter’s Q4 revenue figures, accounting for 35% of the company’s total revenues in 2023. It is regarded as one of the top sports betting sites in our portfolio.

Flutter’s American sportsbook dominated the U.S. market with a 51% market share, making it the top-performing sportsbook on American soil. Additionally, it accounted for 43% of gross revenues.

Despite generating $1.4 billion in revenue in Q4, FanDuel fell short of projections by approximately $225 million due to high expectations. American bettors were successful against the sports betting company during the quarter, resulting in a decrease in overall profits.

In Q4, Flutter saw a 12% increase in average monthly active players compared to the same period last year, and FanDuel’s revenues grew by 26% year-over-year.

FanDuel’s casino business experienced increased activity along with its sports betting market. In Q4, FanDuel casino captured a 26% market share, placing second behind BetMGM in the U.S. market.

Flutter CEO Peter Jackson stated that during the peak quarter for sporting activity, FanDuel solidified its position as a leader in the U.S. sports market, while FanDuel Casino continued to thrive.

Busy times ahead

Flutter Entertainment is rapidly approaching a new milestone in its journey – a debut on the New York Stock Exchange scheduled for January 29. This listing will provide the company with access to American investors, many of whom are well-funded and eager to invest.

During the process, Flutter will remove its listing from Euronext Dublin in order to prevent any regulatory issues. It will continue to be listed on the London Stock Exchange for the foreseeable future.

Flutter Entertainment and its highly successful North American branch, FanDuel, are entering a crucial phase. In addition to being listed on the New York Stock Exchange, the company will continue to dominate the North American sports betting market and maintain its strong presence in European gambling operations.

Everyone will be eagerly awaiting Flutter’s Q1 report to see if the company can solidify its position as one of the premier sports betting providers globally.