This article answers the question of who is FanDuel's biggest competitor in the U.S. online market by using public industry research, company disclosures and state regulator tables. It offers a concise verdict up front, then walks through the market structure, the reasons DraftKings is viewed as the closest rival, other meaningful incumbents, and practical checks readers can use to monitor changes. The goal is to give readers the evidence and tools to update their view without relying on a single metric. Wherever the article cites a specific claim about market position or operator metrics, it links readers to the original public source so they can verify the underlying data.

DraftKings is the closest national rival to FanDuel based on 2024-2025 operator and market data.

FanDuel and DraftKings together accounted for a majority of U.S. online sports-betting revenue in 2024-2025.

State regulator tables are the best source to spot local shifts that national summaries can mask.

Quick answer: which sports betting site is FanDuel's biggest competitor?

Short verdict: DraftKings is widely regarded as FanDuel's closest rival among sports betting sites based on operator disclosures and industry market analyses covering 2024-2025, while FanDuel remained the largest operator by handle and revenue over that period Eilers & Krejcik market review.

One-line context: the national picture is concentrated, so the practical competitive threat depends on state-level licensing, promotional activity and product parity; these local differences can make DraftKings look closer in some states and leave other incumbents competitive in particular markets.

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The quick answer is useful for a first pass, but state revenue tables and company disclosures provide the detailed evidence you should check before drawing firm conclusions.

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How concentrated is the U.S. online sports-betting market?

The U.S. online sports-betting market remains concentrated, with industry and regulator reports showing FanDuel as the largest single operator by handle and revenue during 2024-2025 American Gaming Association State of the States 2025.

That concentration is visible in many state regulator revenue tables, which together demonstrate that a small number of operators account for most online betting revenue in large markets; state-level revenue reports provide the granular data behind national summaries and can show how the split changes by quarter New Jersey Division of Gaming Enforcement revenue reports. You can also consult live revenue trackers like Legal Sports Report's revenue tracker for rolling updates.

Close up smartphone screen showing live in play odds and same game parlay builder UI in Funded Plays colors illustrating product competition among sports betting sites

Because national summaries aggregate many state outcomes, they can mask strong local variance: in mature states with broad promotional competition and deep app liquidity the largest operators tend to capture outsized shares, while in newer markets local partnerships or retail footprints can give regional operators an edge.

Why DraftKings is widely regarded as FanDuel's closest rival

Active-user metrics and company disclosures show that DraftKings is the nearest competitor to FanDuel on national measures such as active customers and promotional intensity, which is why analysts and operators often treat the pair as the market duopoly DraftKings 2024 10-K filing. See DraftKings usage summaries at DraftKings Revenue and Usage Statistics for additional context.

Product parity is another reason DraftKings is seen as the closest rival: the two platforms offer similar core features that drive user retention and revenue, including in-play betting, same-game parlays and broad event coverage. Observers point to comparable promotional calendars and feature sets as evidence that DraftKings competes at the same product layer.

Who is FanDuel's biggest competitor among sports betting sites in the U.S.?

Based on 2024-2025 data and operator disclosures, DraftKings is the closest national competitor to FanDuel, with notable state-level variation due to licensing, promotions and local partnerships.

Promotional intensity and campaign timing also place DraftKings in direct head-to-head competition with FanDuel in many states; where DraftKings allocates aggressive promotions and matching product improvements it has narrowed the gap, according to market analyses and reporting on operator behavior Reuters analysis of market dynamics.

Other major incumbents: BetMGM, Caesars and regional players

Behind the FanDuel-DraftKings pair, BetMGM and Caesars represented the next tier of competitors in 2024-2025; both benefit from casino partnerships, retail footprints and state relationships that help retain customers in markets where retail integration matters Company investor presentations and market context.

Regional operators and some casino-linked brands often leverage local marketing, retail access and state-level relationships to remain meaningful players, especially in states where retail wagering or casino cross-promotion influences customer acquisition and retention.

Three practical drivers explain why one operator gains or loses share: promotional spend and customer acquisition programs, product features and depth of in-play markets, and breadth of state licensing and local partnerships; industry reviews and market analyses identify these as the main factors shaping market-share differences in 2024-2025 Eilers & Krejcik market review.

Promotions directly affect short-term handle and active user counts because welcome offers, reloads and targeted bonuses change where players place transient bets; product features such as same-game parlays and fast in-play updates influence longer-term retention by improving the betting experience.

Licensing breadth and retail partnerships matter because they determine where a platform can be legally marketed and how it can integrate with casino ecosystems; BetMGM and Caesars show how such arrangements can offset purely digital advantages in some states by tying online offers to retail footprints and casino loyalty programs.

There are three complementary public sources to consult: industry reports for synthesized analysis, company filings for operator-level disclosures, and state regulator revenue tables for ground-level data; each source has strengths and caveats, so cross-checking is essential American Gaming Association State of the States 2025.

Company 10-Ks and investor presentations can reveal active user metrics and promotional spend disclosures, but they use company-specific definitions and sometimes lag the calendar quarter, so they are best read alongside regulator tables that report handle and revenue for a covered period DraftKings 2024 10-K filing.

State regulator tables are authoritative for handle and gross gaming revenue in a jurisdiction, but they do not always report the same customer-level metrics companies use, so analysts must reconcile handle, revenue and active-user measures rather than assuming they are interchangeable.

State-level examples where DraftKings narrows or widens the gap

New Jersey provides a useful example of how state-level tables can show a different split from national aggregates; regulator reports there show the relative shares each quarter and can highlight markets where DraftKings closes the gap or where FanDuel maintains a larger lead New Jersey Division of Gaming Enforcement revenue reports.

Quick public-data checks to compare operators in a state

State regulator report
Quarter
Operator revenue
Handle
Notes

Use regulator PDFs to verify numbers

Other swing states show different dynamics depending on when a state opened, the timing of promotional campaigns, and whether an operator has a retail or casino partner; those local conditions can make DraftKings look much closer to FanDuel in a given quarter, or alternatively allow casino-linked operators to perform relatively better.

For readers tracking a particular state, the best habit is to pull the last several quarters of regulator tables and compare both handle and revenue across operators to see whether a change is persistent or tied to a short-term promotion.

What this competition means for users: promotions, product choice and liquidity

When operators compete closely, users typically see more frequent promotions, faster product innovation and deeper market offerings, which can improve short-term value for active bettors; however, promotions often carry specific wagering or withdrawal conditions that affect true value.

Minimal vector desktop illustration of a regulator PDF report beside a company investor presentation showing simplified charts and tables to represent data sources for sports betting sites

Be cautious with promotional terms and bonus structures: short-term wins from heavy promotional spending may not translate to a reliably better long-term experience if the platform has restrictive terms, poor app performance or thin liquidity for the bets you place Reuters coverage of market dynamics.

Product differences: in-play betting, same-game parlays and prop liquidity

Product depth is a practical way to decide which platform fits your needs: speed of in-play updates, the breadth of same-game parlay construction options and liquidity for props all affect how well a site serves high-frequency or prop-focused users Eilers & Krejcik market review.

Liquidity matters because deep markets keep odds stable and allow larger stakes with less slippage; for same-game parlays, operators that provide consistent pricing and a broad set of leg options generally deliver a more predictable experience for users who build complex bets.

Quick checks you can run in the app include: compare live odds updates across a single in-play event, build the same-game parlay across two apps and compare the offered lines, and look at maximum coin sizes or accepted stake levels for large prop markets. See how Funded Plays evaluates these checks how Funded Plays evaluations work.

Tracking changes: how to watch for shifts in the competitive ranking

To see whether DraftKings or another operator is closing the gap, monitor three signal types: regulatory market openings and new state launches, changes in advertising or promotions rules, and consolidation or partnership announcements that can change distribution or customer access Eilers & Krejcik market review.

Public filings, investor presentations and state regulator reports typically provide the leading public evidence for material shifts; watch quarterly regulator tables for persistent share movement and company filings for strategic shifts in promotion budgets or licensing plans. For rolling revenue and handle trackers see Sportsbook Review's revenue tracker.

Common mistakes when declaring 'the biggest competitor' among sports betting sites

A frequent error is relying on a single metric such as handle, app downloads or a single-quarter revenue figure to name a "biggest" competitor; each metric measures a different dimension of competitive strength and can pull in different directions American Gaming Association State of the States 2025.

Another mistake is ignoring local nuance: regional partnerships, retail access and promotional timing can create temporary winners in states, so extrapolating one-state outcomes to a national conclusion can mislead analysis.

Practical scenarios: which competitor matters most depending on your priorities

If you care most about promotions and bonus value, operators that invest heavily in customer acquisition and reload offers will matter more for you in the short term; if you need deep prop liquidity for consistent pricing on large stakes, focus on operators with demonstrated market depth and stable in-play pricing.

If you follow local events or prefer in-person integration, casino-linked or regional operators with retail footprints may matter more for state-specific experiences, even when a national operator leads overall market share. Funded Plays

What to watch in 2026: open questions that could reshape the leaderboard

Key open questions for 2026 include whether remaining states open their markets to online competition, whether regulators change rules on promotions and advertising, and whether consolidation among operators alters distribution and promotional dynamics; these developments will materially affect which operator is FanDuel's main competitor in future quarters Reuters analysis of market dynamics.

Because these are open questions, treating them as scenarios to monitor rather than predictions will help readers stay ready to update their view as new state-level or corporate developments appear.

Conclusion: a short checklist to judge who is FanDuel's main competitor

Three quick checks: compare active-user metrics from company filings, review recent state regulator revenue tables for persistent share changes, and assess product and promotion parity in the states you care about; together these checks let you update your view using primary public sources American Gaming Association State of the States 2025. See more on our Funded Plays blog.

Short restatement: based on 2024-2025 data and operator disclosures, DraftKings is the biggest single competitor to FanDuel nationally, but state-level variation and future regulatory or consolidation events can change that dynamic quickly, so use the checklist above to keep your view current.

Is DraftKings the biggest competitor to FanDuel?

Yes. Based on 2024-2025 operator disclosures and industry analyses, DraftKings is the closest national rival to FanDuel, though state-level splits vary.

Do BetMGM and Caesars challenge FanDuel nationally?

They are meaningful competitors in many states thanks to casino partnerships and retail footprints, but they trailed FanDuel and DraftKings on online market share in 2024-2025.

What public sources should I consult to verify market share?

Check industry reports, company filings such as SEC 10-Ks, and state regulator revenue tables to compare handle, revenue and active-user metrics.

If you want to keep this question current, bookmark the state regulator pages for markets you care about and check company filings and industry reports after each quarter close. Markets and promotional programs change quickly, so use the three quick checks from the conclusion to reassess who matters most for your needs. FundedPlays can be a useful context for readers exploring skill-based alternatives to traditional sportsbooks, but it operates under a different model focused on structured prediction challenges rather than traditional wagering.