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FanDuel Dominates GGR Market in Q1 2024

In the first quarter of 2024, FanDuel surged ahead to solidify its position as the leader in the US gaming and sports betting market, capturing 46% of the market share, as reported by JMP Securities analysts. This ascent was fueled by aggressive advertising expenditures, propelling the Flutter Entertainment-owned operator to a peak combined market share of 49% in January.

Conversely, DraftKings experienced a decline in market share, dropping from 37% in the fourth quarter of 2023 to 34% in the first quarter of 2024, according to JMP analysts. During this period, FanDuel ramped up its promotional spending, allocating 1.7% of its cash to promotions in Q1, up from 1.3% in the previous quarter.

JMP further noted that DraftKings maintained its advertising expenditure at 1.3% between quarters, while BetMGM emerged as the highest spender on promotions overall, allocating 2% of its funds to promotional activities.

16 April 2024, 18:00

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