Eilers & Krejcik Gaming: FanDuel retakes market share lead from DraftKings in Q4
Industry analysts cite strong online casino gains for the Flutter-owned operator to push it ahead of long-term rival in final three months of the year
FanDuel retook the combined online sports betting and igaming US market share lead in Q4 2023, according to proprietary estimates from Eilers & Krejcik Gaming (EKG).
The return of FanDuel to the front of the pack comes after the boutique analyst firm said DraftKings had jumped ahead in Q3 2023.
EKG pegged FanDuel’s market share, using GGR as a metric, as around 35% during the final three months of the year, with DraftKings having dipped to around 32%.
The firm said the Flutter-owned brand was helped by “material gains in online casino”, with internal estimates putting FanDuel’s igaming shares at 23% – an all-time high – and a 300 basis point jump compared to Q3.
EKG added that while DraftKings had given up market share, the Boston-based giant “remains within striking distance of FanDuel, with another lead change in Q1 2024 possible”.
Combined, the powerhouses held 66% of the GGR market in Q4, representing a two-year high and another 300 basis point jump compared to Q3.
Among the challengers, EKG highlighted BetMGM shed “material share” during Q4, with igaming and online sports betting grip slipping to 11%.
The other operators that make up the chasing pack, namely BetRivers and Caesars, once again remained flat in terms of market share gains, according to EKG.
Elsewhere, ESPN Bet, which was launched by PENN in November, captured nearly 5% of the market, which EKG said was boosted by promotional spend.
Additionally, Hard Rock Digital, on the back of its online sports betting monopoly in Florida, saw its market share increase by 130 basis points compared to Q3 to 1.9%.
Taking to LinkedIn, EKG’s Chris Krafcik described the market as “looking very much like a two-horse race” between DraftKings and FanDuel.
Image credit: EKG Line