FanDuel is owned by parent company Flutter, while DraftKings is owned by Diamond Eagle.
Back in 2020, Flutter acquired the remaining 37% of FanDuel for a huge $4.2 billion. In the same year, Diamond Eagle combined with DraftKings and SBTech to complete a unique reverse merger. Since then, DraftKings has been publicly traded on the stock market under DKNG.
What is FanDuel?
FanDuel is officially the number one gambling company in the US. It’s a sportsbook, fantasy sports platform, and online casino rolled into one, with over 17 million users in the US and a 43% market share. Thanks to its “same-game parlay” bet type and excellent range of bonuses, FanDuel has been able to reach the top. And just for creating an account, FanDuel offers new users up to $150 in bonus bets. All you have to do is make their first deposit ($10 or higher), place a bet, win that bet, and then receive the bonus. This is an excellent offer that highlights why FanDuel is one of the best gambling companies around.
What is DraftKings?
DraftKings is the second most popular gambling company in the US and currently holds a 25% market share. Like FanDuel, DraftKings offers sports betting, daily fantasy sports, and an online casino. However, DraftKings is primarily focused on daily fantasy sports, which has been the key driver behind its popularity.
FanDuel and DraftKings: Competitors
As FanDuel and DraftKings are the market leaders, they’re facing red-hot competition from other companies in the US (and global) gambling markets.
Sweepstakes Casinos
Currently, a large portion of the competition is coming from sweepstakes casinos like Chumba and WOW Vegas.
If you didn’t know already, a sweepstakes casino is a special type of online casino where you don’t bet virtual coins instead of real money. Because of this, they’ve been able to penetrate the US online gambling market very easily due to the fact that they aren’t subject to the same gambling laws.
In sweepstakes casinos, you get access to free-to-play games, a social gaming platform, and free coins. For more, check out this guide to explain what free coins are. There are a lot of benefits to sweepstakes casinos, which is ultimately why FanDuel and DraftKings are under pressure to keep outperforming them.
Other Online Sportsbooks
Outside of sweepstakes casinos, FanDuel and DraftKings biggest competitors are other online sportsbooks. These sportsbooks include:
- ESPN Bet
- BetMGM
- bet365
However, the advantage that FanDuel and DraftKings have is that they already own huge parts of the market. Some would say that they actually have a monopoly and that it’s unlikely that any competitor will knock them off the top — but this isn’t true. Despite their huge global popularity, both FanDuel and DraftKings still need to work hard to maintain their market positions, which could easily be lost to the likes of BetMGM if they’re able to acquire more customers moving into the future.
