FanDuel Again Tops US Sportsbook Operators In Q2 Earnings

FanDuel led all U.S. sportsbook operators in Q2 2025 with record profits of $1.79 billion.


- DraftKings was 2nd with $1.5 billion in profits and $300 million in EBITDA, while BetMGM placed 3rd with $692 million in income.


- FanDuel and DraftKings together created nearly 83% of the combined adjusted EBITDA among leading U.S. online gaming companies.


FanDuel created a second-quarter company record of more than $1.79 billion from its sportsbook and iCasino, parent business Flutter Entertainment revealed during the company's second-quarter incomes outcomes recently. It represented a 17% year-over-year boost from the 2nd quarter of 2024.


DraftKings, FanDuel's daily dream sports pioneer-turned online video gaming market share rival, was second among the 6 leading publicly traded online gaming operators in profits for Q2 2025. It reported $1.5 billion in income, also a second-quarter record for the company.


The 2 U.S. market share leaders associated the success in part to "sportsbook-friendly" results between April and June. American bettors had abnormally rewarding runs in October and December 2024 as well as March 2025, a pattern that ended this spring.


BetMGM completed third in the second quarter with $692 million in profits. The joint online gaming venture in between MGM Resorts and Europe-based Entain produced $449 million of its Q2 profits for online gambling establishment gaming, the just one of the leading 3 earners to see more income from online casino video gaming than sports betting.


FanDuel led with $507 million in revenue from online slots and table video games, followed by BetMGM. DraftKings was third with $430 million in iGaming earnings.


Other operators make gains


Caesars' digital platforms reported $343 million in Q2 revenue, helpful for 4th location. The net revenues represented a 24% year-over-year gain from Q2 2024, enhanced by a 28% year-over-year enhancement in sports wagering net profits.


PENN Entertainment created $316 million in Q2 profits throughout its ESPN BET sportsbook, Hollywood iCasino, and Ontario-based theScore Bet platforms, also a company second-quarter record. Rush Street Interactive's BetRivers platform reported $269 million in second-quarter income, the greatest mark in business history.


Q2 2025 Gaming Operator Performance


Fanatics, bet365, and Acid rock are predicted to measure up to the aforementioned operators for income and market share but do not reveal their U.S. financials openly. Combined, these 9 sportsbooks accept more than 99% of all legal sports bets put in the U.S.


Top two operators make considerable revenue gains


Earnings and customer overalls separated the two U.S. market leaders even further from their competitors.


FanDuel reported $400 million in Q2 adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA), the most of any of the six publicly traded online video gaming platforms. DraftKings was 2nd with $300 million.


Combined the 2 generated almost 83% of the AEBITDA reported by the six operators. The metric provides a much better photo of how well a business carries out from its core operations.


BetMGM was once again third, with $86 million in Q2 AEBITDA. Caesars was 4th with $80 million. BetRivers produced $40 million in AEBITDA in the second quarter, doing so in spite of less profits than any of its rivals.


ESPN BET reported an AEBITDA loss of $62 million in the quarter as the company continues to invest in its platform ahead of the third and fourth quarters. Sportsbooks tend to produce most of their revenue throughout the second half of the calendar year due to football, America's many wagered-upon sport.


FanDuel reported 3.5 million regular monthly active users (MAUs) throughout the quarter. DraftKings was 2nd with 3.3 million, a figure that also consisted of consumers of its Jackpocket online lotto courier.