DraftKings is one of the companies riding the wave of US states legalizing sports betting, with over 25 states overturning bans on the practice since 2018. With the company’s strong position in the fantasy sports market, it was able to transition seamlessly to sports betting.
Since 2012, DraftKings has offered a range of daily fantasy sports contests for NFL, NBA, MLB, NHL, and PGA competitions, and has added other sports over the past decade such as the English Premier League, UEFA Champions League, MMA, WWE, and more.
With most fantasy leagues, a group of people field a team of players and then receive points based on different metrics, such as touchdowns, interceptions, and sacks in the NFL. To keep users engaged, DraftKings offers prize money to players who perform well in fantasy leagues.
DraftKings and FanDuel have been in heavy competition in the fantasy sports market for a decade. In 2016, the two agreed to merge, but the FTC blocked the merger from happening, as the combined company would control 90 percent of the daily fantasy sports market.
Both companies have since went on to establish sportsbook services, and are first and second in this respective market. This market is expected to grow rapidly as more states legalize sports betting and gambling. DraftKings had 25 percent market share in 2022, second to FanDuel with 43 percent.
In 2020, DraftKings completed a reverse merger to become a publicly traded company.
We have collected data and statistics on DraftKings. Read on below to find out more.
DraftKings Key Statistics
- DraftKings generated $3.6 billion revenue in 2023, a 72% increase on the previous year
- It reduced its net losses during that period, although it still reported a net loss of $789 million for the year
- DraftKings had 3.5 million active users in 2023, adding one million during 2023
- DraftKings was downloaded 9.8 million times in 2023, a 24% increase on 2022 figures
DraftKings Overview
| Title 1 | Title 2 |
|---|---|
| Launch date | 28 March 2012 |
| HQ | Boston, Massachusetts |
| People | Jason Robins (CEO, co-founder), Matt Kalish (President of North America, co-founder), Paul Liberman (President of Global, co-founder) |
| Business type | Public (Nasdaq: DKNG) |
| Industry | Gambling |
DraftKings Revenue
DraftKings made $3.6 billion in 2023, almost all of it came through its sportsbook service.
DraftKings revenue 2021 to 2024 ($mm)
DraftKings revenue 2018 to 2023 ($mm)
| Year | Revenue ($mm) |
|---|---|
| 2018 | 226 |
| 2019 | 323 |
| 2020 | 615 |
| 2021 | 1296 |
| 2022 | 2240 |
| 2023 | 3665 |
DraftKings Net Income
DraftKings reported an annual net loss of $789 million, reversing four years of growing losses.
DraftKings net income/loss 2018 to 2023 ($mm)
| Year | Net income / loss ($mm) |
|---|---|
| 2018 | -76 |
| 2019 | -143 |
| 2020 | -1232 |
| 2021 | -1523 |
| 2022 | -1378 |
| 2023 | -789 |
DraftKings Users
DraftKings had 3.5 million active users in 2023, more than doubling its user base in two years.
DraftKings active users 2020 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2020 | 0.9 |
| 2021 | 1.5 |
| 2022 | 2.5 |
| 2023 | 3.5 |
DraftKings Downloads
DraftKings had 9.8 million downloads in 2023, primarily from its Sportsbook & Casino app.
DraftKings downloads 2019 to 2023 (mm)
| Year | Downloads (mm) |
|---|---|
| 2019 | 1.5 |
| 2020 | 3.3 |
| 2021 | 6 |
| 2022 | 7.9 |
| 2023 | 9.8 |
DraftKings US Sports Betting Market Share
Want to read more? Check out our sports betting app sector profile
