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FanDuel Sportsbook Predicts 2023 Profitability

by Dave Schwab - 2/14/2023

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The No.1 US-based sportsbook could have profitability for all four quarters in 2023. FanDuel is owned by Flutter Entertainment, with Boyd Gaming controlling another 5%. Amy Howe is FanDuel’s Chief Executive Officer. She recently released comments with Bloomberg Television and she said:

“We feel very confident about our path to profitability for 2023. Fundamentals of our business are looking very strong so we remain very confident about full-year profitability this year.”

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In April to June last year, FanDuel posted the first profitable quarter in the legal US sportsbook industry. The company predicts that 2023 could be profitable in all four quarters. FanDuel has mobile sports betting in the legal US market. Its online sportsbook’s market share is almost double that of the next two operators combined.

2023 Full-Yead Profitability is Good News for Flutter Investors

FanDuel has forecasted a full-year profitability, while BetMGM told its investors it will be profitable in the second half of 2023. DraftKings projected a profitable return in the fourth quarter of this year. Caesars Sportsbook could be profitable at some point in 2023.

As a money-making company in 2023, FanDuel could fuel enthusiasm for a spinoff by Flutter Entertainment. The US-based sports betting site that is profitable would be good news for investors. FanDuel Sportsbook is a largest online and retail sports betting company in the legal US market and it is growing in size.

The NFL’s Super Bowl Kicks Offs the 2023 Sports Betting Year

Amy Howe touched on the importance of the Super Bowl in 2023. New customer acquisition for the big game was noted as a marquee event. She estimated that 17 million Super Bowl wagers would be placed on the game by FanDuel.

Howe also estimated that increasing efficiencies in FanDuel’s customer acquisition strategy would likely to play a pivotal role in the sportsbook operator’s march to profitability. She mentions same-game parleys (SGP’s) as a popular sports bettor’s action for the Super Bowl.

In a related comment to Bloomberg Television, Howe said:

“Same-game parlay has been a big advantage for FanDuel. It’s a product we brought over from Australia and other parts of the world. We were the first to market and for us, it’s a much higher percentage of the overall mix. It’s driven a big structural margin advantage for us.”

The company’s analysis will show if her projections are spot on in such a major sporting event as a 2023 Super Bowl.

FanDuel is the Largest Online Sports Betting Site

FanDuel was launched in 2009 as one the of largest providers of online daily fantasy sports (DFS). Expanding into legal US sportsbooks and casino games, FanDuel is a leading online gaming site

FanDuel Sportsbook is available in multiple states with regulated sports betting. The sports betting company covers the NFL, NBA, MLB and NHL as well as college football and basketball, professional soccer, golf, tennis, auto racing, boxing and MMA fighting. Everything is in reach for desktop and laptop computers or smartphones and tablets working with a mobile betting app.

FanDuel online sportsbook is easy and quick to bet sports games and sporting events. FanDuel promotions consist of free bets, enhanced odds and other sports betting incentives.

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