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

FanDuel Sportsbook all but shut down the recent conversation of DraftKings gaining on it to be the best-performing entity in our best sports betting apps.

On Thursday, FanDuel parent company Flutter Entertainment, which also has PokerStars, Betfair, and Sky Betting & Gaming as part of its broad-reaching global gambling family, released the Flutter Q4 earnings report.

The figures included cemented the notion that FanDuel was the dominant U.S. sportsbook in 2023 and that the impressive growth the company has seen since launching its legal online sports wagering platform in 2018 has shown no signs of slowing down.

Flutter Q4 figures

Flutter Entertainment reported impressive global revenue figures for Quarter 4. The company had $2.8 billion in total revenue in the three-month period that ended December 31. It is an 11% year-over-year increase from Q4 of 2023. 

The company's sports betting sector made up $1.7 billion of the overall revenue total for the gambling company, a $100 million improvement from the same period last year.

Flutter's global gaming sector, which includes online casinos, made up the other $1.1 billion revenue total, which is 15% better than the same three months from the previous year.

The company's average global monthly player pool grew to a notable 3.21 million, a 38% year-over-year improvement.

FanDuel the jewel

FanDuel was the main driver of Flutter's Q4 revenue totals. In fact, it made up 35% of the company's 2023 revenues. FanDuel is one of our best sports betting sites.

Flutter's American sportsbook claimed an impressive 51% of the total market share in the U.S. market. It was easily the top-performing sportsbook on American soil and claimed 43% of gross revenues.

However, sky-high expectations saw FanDuel fall about $225 million short of projections despite $1.4 billion in revenue in Q4. It turns out that American bettors had some success against the sports betting behemoth during the quarter, dragging overall profits down.

Year-over-year, average monthly active players for Flutter climbed 12% in Q4 compared to Q4 last year, while revenues for FanDuel grew 26% year-over-year.

Along with FanDuel's sports betting market, the casino side of the business also saw an uptick in activity. FanDuel casino claimed a 26% market share in that sector in Q4, second behind BetMGM in the U.S. scene.

A statement by Flutter CEO Peter Jackson on his company's Q4 successes read: “In the U.S., FanDuel consolidated its sports leadership position during the peak quarter for sporting activity, while FanDuel Casino went from strength to strength."

Busy times ahead

Flutter Entertainment is quickly moving toward the next chapter of its existence - a listing on the New York Stock Exchange in a couple of weeks on January 29. The listing is an integral way to gain from investors in the American market, some of which have deep pockets.

In the process, Flutter will delist from Euronext Dublin to avoid any regulatory complications. It will stay on with the London Stock Exchange for the foreseeable future.

It's go-time for Flutter Entertainment and its wildly successful North American wing, FanDuel. Along with trading on the New York Stock Exchange, the company will keep chugging along as the top North American sportsbook and with its European gambling entities.

All eyes will be on Flutter’s Q1 report to see if the company can further cement its status as one of the top sports betting providers in the world.