Fan Duel The American Online Betting Market
The online betting market in America has seen a significant surge in popularity in recent years, with more and more states legalizing sports betting and online gambling. One of the biggest players in this market is FanDuel, a leading sportsbook and online gambling platform that has quickly established itself as a household name among American sports bettors.
But just how well is FanDuel performing in the American online betting market? In this article, we take a closer look at the company’s performance, growth, and market position.
Market Share and Growth
When it comes to market share, FanDuel is a clear leader in the American online betting market. According to industry research firm Eilers & Krejcik Gaming, FanDuel held a 31.5% market share of the online sports betting handle in the United States in 2020. This puts the company well ahead of its closest competitors, DraftKings and BetMGM, who held a 28.2% and 7.9% market share respectively.
But it’s not just market share that sets FanDuel apart – the company has also seen impressive growth in recent years. In Q3 2020, FanDuel’s online revenue in the United States increased by an impressive 89% year-over-year. This growth has continued into 2021, with the company reporting a 92% increase in revenue in Q1 of this year.
Popularity and Brand Recognition
It’s not just market share and revenue growth that makes FanDuel a formidable player in the American online betting market – the company also boasts high levels of popularity and brand recognition among sports bettors.
According to a survey conducted by Morning Consult in 2020, FanDuel was the most popular sportsbook among American sports bettors, with 27% of respondents saying they had used the platform in the past 30 days. This puts the company well ahead of DraftKings (19%), BetMGM (8%), and other competitors.
FanDuel’s strong brand recognition is also evident in the company’s advertising efforts. The company has invested heavily in television advertising, with commercials featuring popular sports figures and celebrities. This has helped to further solidify the company’s position as a household name among American sports bettors.
