With March Madness underway, sports betting is entering one of its highest-volume stretches of the year. Spend data from the past 12 months shows a market in transition.
DraftKings has pulled ahead of FanDuel.
DraftKings (DKNG) now captures 41% of spend among major platforms, edging past FanDuel (FLUT) at 39.1%. A year ago the two were essentially tied. BetMGM (MGM) has quietly grown to 12.1%, cementing its position as the clear third player in the market.
March Madness will stress-test these rankings over the next three weeks. But the bigger test may come this summer. With the FIFA World Cup on US soil for the first time, watch whether the platform rankings hold when an entirely new bettor profile enters the market.
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