online sports betting industry yearly revenue

The number of states where online gaming is legal is expected to continue to grow, Robins said. “In the states where we are live, and also including Ontario, gross gaming revenue is expected to grow more than 50% year-over-year in 2023 and reach $20 billion.” is growing very rapidly,” Robins said in his prepared remarks.

The states in which these activities are already legal have proven to be markets that are larger and faster growing than the DraftKings had anticipated, according to a presentation released in conjunction with the Investor Day event. provides the potential for up to an additional $6.2 billion of Adjusted EBITDA, Robins added. Any additional state legalization would add significant revenue growth and additional long-term Adjusted EBITDA, and improve our long-term Adjusted EBITDA margins,” Robins said in the prepared remarks.įurther online sports betting and iGaming legalization in the U.S. 14) during the fantasy sports contest and sports betting provider’s 2023 Investor Day event. That projection includes only the existing states, as the legalization of sports betting in additional states would boost that market higher, DraftKings CEO and Co-founder Jason Robins said in prepared remarks delivered Tuesday (Nov. Online sports betting and iGaming in the United States will be a $30 billion total addressable market (TAM) in 2028, up from $20 billion this year, according to DraftKings.

Online sports betting industry yearly revenue