Sports betting related equities have been pounded in the last 12 months, so much so that even NFL players are recognizing and poking fun at the operators on social media (see NFL star JJ Watt’s tweet yesterday HERE).
The stocks are down, the valuations may be depressed (PENN), and the industry growth has slowed materially, but what about market share? We have received some inbound and had some recent discussions about DKNG and whether the rate of change of things might be looking at least a little better these days.
Our app data shows in real time that trends are still slowing on a YoY basis, and the market share data, although reported on a lag, shows that in OSB DKNG is still ceding share.
Who’s gaining the share?
Smaller operators had chipped away at some share in OSB but in recent month’s FanDuel has been gobbling up the market. Per our data through April, FanDuel has generated north of 55% market share across the US, and that’s excluding their very dominant position in NY which stands at 60%+.
FanDuel is the true king, not you know who.