FanDuel and DraftKings: Ownership, Revenue and Strategy
FanDuel is owned by Flutter Entertainment, and DraftKings is a Boston-based company listed on Nasdaq. Both reported weaker U.S. revenue in Q2 2026: FanDuel's U.S. revenue fell 6 percent to $1.683 billion, and DraftKings' revenue fell 5 percent to $1.443 billion, with both pointing to customer-friendly sports results.
Updated October 18, 2026. Figures come from company releases dated August 5 and August 6, 2026.
Who owns FanDuel and DraftKings?
Flutter Entertainment plc, listed on the NYSE as FLUT, owns FanDuel, and DraftKings Inc., listed on Nasdaq as DKNG, owns DraftKings.
Flutter reports FanDuel inside its U.S. segment, and it also owns the international brands Paddy Power, PokerStars and Sky Bet. Covers reported that Flutter chief executive Peter Jackson would step down at the end of September 2026 and hand the role to Dan Taylor at the start of October.
How much revenue do FanDuel and DraftKings make?
FanDuel's U.S. segment earned $1.683 billion in Q2 2026, and DraftKings earned $1.443 billion. Both figures fell year over year, even as betting volume grew.
Q2 2026 metric
FanDuel (Flutter U.S.)
DraftKings
Revenue
$1.683 billion, down 6 percent
$1.443 billion, down 5 percent
Sportsbook revenue
Down 15 percent
$891.9 million, down 10.6 percent
iGaming revenue
Up 14 percent
$461.9 million, up 7.5 percent
Adjusted EBITDA
$119 million, down 70 percent
$114.6 million, down from $300.6 million
2026 revenue guidance
$7.40 billion for the U.S., cut by $395 million
$6.5 billion to $6.9 billion, maintained
2026 adjusted EBITDA guidance
$760 million for the U.S., down from $970 million
$700 million to $900 million, maintained
Revenue and guidance figures come from the Flutter and DraftKings releases. DraftKings' sportsbook and iGaming split and its adjusted EBITDA come from Covers and Sigma reporting on the results, and the FanDuel segment detail comes from Flutter's release and Covers.
According to Covers, DraftKings also reported $13.1 billion of sports consumer volume, up 15 percent, a net loss of $67.6 million and average revenue per monthly unique payer of $132, down 13 percent. Flutter reported in its release a group net loss of $296 million on group revenue of $4.33 billion, up 3 percent.
Both operators earn most of their revenue from sportsbook hold, which is the share of bets they keep after paying winners, and from iGaming, which covers online casino play. A year with bettor-friendly results lowers hold and revenue even when handle rises.
DraftKings extended beyond sports betting with online casino, by acquiring Golden Nugget Online Gaming in 2022 for $1.56 billion, and lottery, by buying Jackpocket in 2024. It also became ESPN's official sportsbook from December 2025 and is investing in a Predictions product. FanDuel reported that revenue from FanDuel Predicts was not material in Q2 2026, according to Covers.
Which has more market share, FanDuel or DraftKings?
FanDuel holds the larger share. Flutter said FanDuel kept the number one position in sportsbook and iGaming in Q2 2026, with 39 percent of sportsbook gross gaming revenue and 27 percent of iGaming gross gaming revenue in the states where it operates, according to Gaming Insider's report on the results.
FanDuel and DraftKings together held about 68 percent of handle in March 2026, according to Casino Reports as cited in EPR's sports betting guide.
Why did both report weaker profit in Q2 2026?
Both operators pointed to customer-friendly sports results, and each added a second cause. DraftKings said the revenue drop came from customer-friendly sport outcomes and higher promotional reinvestment tied to new customer acquisition on its Sportsbook and Predictions offerings.
Flutter said an adverse swing in sports results cost the U.S. segment 6 percentage points of growth. It also said its guidance cut reflects a deliberate $385 million revenue and $270 million adjusted EBITDA investment to strengthen the FanDuel proposition, plus $75 million of revenue and $50 million of adjusted EBITDA lost to a one-week delay in the start of the NFL season.
How do FanDuel and DraftKings market differently?
FanDuel builds on media partnerships and a single lead creative agency, while DraftKings built a large performance marketing engine and now adds media and acquisition deals.
What should marketers take from the FanDuel and DraftKings results?
Marketers should plan for revenue that swings with sports results and budget retention, not only acquisition. Q2 2026 showed that handle and customer counts can grow while revenue and profit fall, so loyalty, brand and responsible gambling work carry more weight when hold is low. The casino-owned comparison is in BetMGM vs Caesars.
Sources and related coverage
Figures come from the DraftKings Q2 2026 release, dated August 6, 2026, and the Flutter Q2 2026 results, dated August 5, 2026. Market share and leadership details come from Gaming Insider and Covers reporting on those results.
FanDuel is owned by Flutter Entertainment plc, which is listed on the NYSE as FLUT and also owns Paddy Power, PokerStars and Sky Bet.
What is FanDuel's revenue?
FanDuel's U.S. segment reported $1.683 billion of revenue in Q2 2026, down 6 percent, and Flutter now guides to about $7.40 billion of U.S. revenue for 2026.
What is DraftKings' revenue?
DraftKings reported $1.443 billion of revenue in Q2 2026, down 5 percent, and guides to $6.5 billion to $6.9 billion for 2026.
Is DraftKings profitable?
DraftKings reported a Q2 2026 net loss of $67.6 million and adjusted EBITDA of $114.6 million, according to Covers. It maintained full-year adjusted EBITDA guidance of $700 million to $900 million.
Which is bigger, FanDuel or DraftKings?
FanDuel is bigger by U.S. revenue and market share. Flutter reported that FanDuel holds 39 percent of sportsbook gross gaming revenue and 27 percent of iGaming gross gaming revenue where it operates.
Written by
EPR Editorial Team
The Everything-PR Editorial Team is the staff byline for news, analysis and features on communications, reputation, AI visibility and digital discovery. Everything-PR has published since 2009. AI tools assist with research and drafting, and every article is reviewed by a human editor before publication. Coverage follows the Editorial Policy, and substantive corrections are noted on the article under the Corrections Policy.
