FanDuel Turns $14 Million Profit in 2021

Neil Parker

Last Updated: March 17, 2022 9:59 AM EDT • 1 min 33 sec read. Twitter link Google News Link

NEW YORK, NEW YORK - AUGUST 13: An exterior view as Olympic swimmer Katie Ledecky rings the closing bell at the New York Stock Exchange on August 13, 2021 in New York City. Cindy Ord/Getty Images/AFP (Photo by Cindy Ord / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Flutter Entertainment plc announced Fanduel, the company's most prominent online gambling brand in the United States, turned a $14 million profit in 2021 in its Annual Report & Accounts released Tuesday, March 15.

Additionally, the Annual Report & Accounts report highlights that FanDuel has built a winning position in the United States market and has developed into the country's largest and undisputed No. 1 online sports betting provider with 34 percent of the population having access to FanDuel Sportsbook.

"The benefits of our superior product offering and scale are driving our US business towards profitability, with FanDuel's sportsbook and gaming business delivering positive contribution in 2021 for the first time."

It's a significant development considering competitor DraftKings reported a $326 million loss for the three-month period that ended December 31.

The report noted the focus on growing the familiarity of the FanDuel brand:

"We have the leading share of voice in the market, with a focus on ensuring high levels of brand visibility throughout the year, not just during seasonal peaks. We have recently added and/or extended several key partnerships, including the NFL, NBA and with Pat MacAfee, locking in important assets for multiple years. We invested over $1bn in promotions, sales and marketing across our US business in 2021."

Flutter Entertainment also has additional growth potential if California and Florida regulate its products, and FanDuel expands into Canada.

FanDuel's focus on introducing new responsible gaming measures is also prominent in the report. The company plans to implement three primary targets in 2022:

All FanDuel employees will complete responsible gaming training during March 2022.All new FanDuel customers will receive responsible gaming messaging within 30 days of downloading the FanDuel app. All existing FanDuel customers between 21 and 25 years old will receive responsible gaming messaging through in-app notifications.

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The company also became the first US sportsbook to sign up for the American Gaming Association's responsible sports betting initiative, "Have a Gameplan. Bet Responsibly."

FanDuel has also made a multimillion-dollar commitment of its media inventory to promote Have a Game Plan.

It's also worth noting that Flutter has FOX Bet, TVG, PokerStars US, and Stardust Casino within its United States Division.

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Written By:
Neil Parker

A lifelong Cowboys, Cubs, Maple Leafs and Gators supporter, Neil has been covering sports in print and online since 2011. His past stops include USA TODAY, theScore, DraftKings Playbook and RotoWire among others. He's a graduate of St. Thomas University and Acadia University and spends ample time at KenWo Golf Club.