Sports Betting And The Rise Of DraftKingsJuly 2, 2022
Sports betting in the U.S. is booming. During the 2021 NFL season an estimated 45 million Americans are expected to wager at least $12 billion. Since a 2018 Supreme Court ruling, sports betting is now legal in more than 30 states.
A flood of new customers eager for risk and excitement has made DraftKings one of the nation’s biggest sportsbooks. In the third quarter of 2021 DraftKings revenue rose 60% from the year prior to $213 million. During that same period with mobile betting launching in several states the number of its monthly unique paying customers rose 31% to 1.3 million.
And the online sports betting and gaming industry in the U.S. is just starting to grow. As of 2021 only 4% of gross gaming revenue in the U.S. was generated online compared with 45% in a more mature market like the UK. The online sports betting market in the U.S. is expected to be worth nearly $40 billion by 2033.
So what does the future look like for legal sports betting in America and what challenges lie ahead for sports betting providers like BetMGM, FanDuel and DraftKings?
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Sports Betting And The Rise Of DraftKings