draftkings projected ownership super bowl

The data suggests mobile sportsbooks are seeing strong growth at the expense of Nevada sportsbooks, which had their lowest betting volumes since 2019. Moreover, GeoComply, a geolocation-tracking firm used by sportsbooks, reported a 32% year-over-year increase in registrations during the Super Bowl weekend.

For one, DraftKings' mobile app was the most-downloaded sports betting app on Super Bowl Sunday, according to CEO Jason Robins, who announced their Q4 earnings call. With the game drawing in the third-largest TV audience of all time and the tradition of placing bets on the outcome, sportsbooks looked to capitalize on the event to win over many customers at a reduced cost.ĭraftKings seems to have made significant market share gains, as indicated by early data.

DraftKings Wins Big on Super Bowl SundayĭraftKings' positive report comes on the heels of the Super Bowl, the biggest sports betting event of the year. They estimate the fourth quarter of 2023 will be their first profitable quarter when measured using adjusted EBITDA. They look to parlay their market share gains and cost-cutting discipline into profitability. The shift in strategy seems to be paying off, as DraftKings easily beat adjusted EBITDA estimates, posting a loss of just $49.9 million versus the $112 million projected by Wall Street. In addition, their key Monthly Active Players (MUP) metric climbed 31% and squeezed out 42% more revenue per player.Īfter splurging on market share back in 2021, DraftKings is on a campaign to tighten the purse strings and get more disciplined with costs. They notched an 81% spike in year-over-year revenues, pulling in a record $855 million. DraftKings Reports Strong Q4 EarningsĭraftKings hit it out of the park with their Q4 report. The positive earnings report provides additional tailwinds to an already blockbuster year for the company, which has seen its stock soar nearly 90% year-to-date.

Draftkings projected ownership super bowl