FanDuel and DraftKings have 83% market share in sports betting in New Jersey, but they may not be the dominant players in every state as online wagering is legalized.
Each U.S. state has its own set of rules and regulations, leading to a “wild west” situation as companies position themselves to operate online sportsbooks.
FanDuel and DraftKings are both positioning for a potential initial public offering in the next year or two.