FanDuel Sportsbook is one of the biggest names in the online sports betting world.
In fact, FanDuel is the market leader in fifteen of the eighteen states in which it operates. Will Massachusetts be next?
On the internet sports betting within Massachusetts launched last month, and six betting apps live in the Commonwealth. The Massachusetts Gaming Commission will release March sports betting revenue numbers on April 18. DraftKings has the hometown advantage in Boston, so some industry experts speculate it could give FanDuel a run for its money in Massachusetts.
In other words, we’ll soon learn if FanDuel can add Massachusetts to its arsenal of top dog states.
FanDuel offers 50% people market share
Based on its 2022 earnings presentation, FanDuel Sportsbook has approximately 50% of the sports betting business in the US. For comparison, FanDuel estimates that DraftKings has a market share of 27%, while BetMGM has 12%.
The platform aims to increase its sports betting gross gaming revenue (GGR) market share from 40% in Q4 2021 to 50% in Q4 2022.
Owned and operated by Flutter Entertainment, the FanDuel Massachusetts application launched on March 10, making Massachusetts its 19th state. It lives in 18 other states: Arizona, Connecticut, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming.
According to the income presentation, FanDuel holds the highest market share in 15 of those 18 states. It ranks number 2 behind DraftKings in Iowa and number 3 behind DraftKings and BetMGM in Wyoming. It can also be assumed that FanDuel is second to DraftKings in Colorado, although Colorado does not publicly release sportsbook-by-sportsbook revenue figures.
In addition to being the market leader in 15 states, FanDuel also has over 50% GGR market share in 7 of those states. In Kansas, FanDuel has more GGR market share than all the other 15 live sportsbooks combined.
FanDuel holds a 52% market share in New York, the state with the largest market by handle. It has the largest market share in Kansas, where it holds 59% of the market.
What makes FanDuel No.1?
In the 2022 calendar year, FanDuel had 2.3 million average monthly players, a 49% year-over-year increase from 2021.
Numerous factors have contributed to FanDuel’s success, but certain qualities have propelled the brand to be a popular choice among both new and experienced users.
Customer acquisition is the gold standard in sports betting. FanDuel strategically invests pre- and post-launch in states, emphasizing generosity through bonuses and brand awareness via advertising content. But most importantly, that customer acquisition is greatly assisted by FanDuel’s daily fantasy sports presence, which has a vast pool of 14 million DFS customers.
“That allows us to very efficiently bring customers onto the platform,”
FanDuel CEO Amy Howe said in a YouTube interview with Forbes in February “But it’s really the product. At the end of the day, you can only retain and engage customers if you have the best product in the marketplace, and that’s where we’re winning. It’s why we’re winning.”
FanDuel is able to maintain those customers at a gold standard level with its high-quality offerings, spearheaded by the Same Game Parlay feature. Furthermore, FanDuel boasts the best sportsbook mobile app for both iOS and Android devices, with a sleek design and user-friendly interface.
It also offers a premium selection of bettor-friendly promotions and offers. In Massachusetts, the “Bet $5 Get $200 in Bonus Bets” offer is a great way for new users to get acquainted with the online sportsbook. Essentially, you receive $100 worth of bonus bets for signing up, depositing, and betting just $5. Any winnings from the $200 in bonus bets are yours to do as you wish.
FanDuel versus DraftKings within Massachusetts
DraftKings is based in Boston, and the DraftKings Massachusetts app is currently operating in the company’s backyard. That is quite the home-field advantage, and it didn’t take long for DraftKings to play “the local card” to try to beat FanDuel.
In a new gambling ad that debuted in Massachusetts on launch day, DraftKings emphasizes its Boston roots with comedian Lenny Clarke, former Red Sox hero David Ortiz, and others. The commercial promotes the company’s “Bet Local” campaign.
Since there’s plenty of DraftKings history in Massachusetts, it has been speculated that Massachusetts sports bettors will be kind to DraftKings, considering the loyalty of sports fans in the state.
But… is all that enough to top the well-oiled machine of FanDuel for revenue in Massachusetts ? We’ll see.
For help with gambling issues, visit GamblingHelpLineMA.org or call (800)-327-5050 for 24/7 assistance. 21+ and present in MA. First online real money wager only. $10 first deposit required. Bonus issued as non-withdrawable Bonus Bets that expire in 14 days. Restrictions apply. See terms at sportsbook.fanduel.com.
Connor Grootenhuis is the Managing Editor for PlayMA, covering everything gambling and sports betting in Massachusetts. Based in the Marais State of Louisiana, he is a lifelong sports fan who believes that every loss is a tough defeat and every win is easy money.
