✅ FanDuel is the most popular US online sportsbook
✅ Flutter (the FanDuel parent company) has listed itself on the New York Stock Exchange under the ticker $FLUT
✅ This is seen as a smart competitive move in the battle against DraftKings
It’s an exciting time for the US sports betting industry. In January 2024, FanDuel joined the New York Stock Exchange for the first time, making it easier for American investors to start investing in the company’s shares. In celebration, Rob Gronkowski did a “gronk spike” outside the New York Stock Exchange in front of a huge crowd of people, as this is seen as an iconic moment for both FanDuel and the iGaming industry as a whole.
Why Did FanDuel Join the Stock Exchange?
There are three reasons why FanDuel joined the NYSE:
📈 The US sports gambling market is increasing in value year-by-year (and will reach a market volume of US$9.65bn in 2024 according to Statista)
⚖️ Sports betting is now legal in 38 states
🏆 Fast-growing levels of competition in the industry
Now, online gambling is more popular in the US than it’s ever been before. As good as this is for FanDuel, it also means that they have to stay ahead of the curve and prevent competitors, such as ESPN BET and DraftKings, from overtaking them. Therefore, the logic behind joining the NYSE is that it will (more likely than not) provide FanDuel with an excellent long-term boost. This is something that the Chief Commercial Officer Mike Raffensperger commented on, saying that it ensures “access to greater liquidity, global markets, and just a lot of opportunity,”.
The Growth of Online Gambling in the US
Online gambling shows no sign of slowing down in the US. Over the past decade, the industry has gone from strength to strength, which is why its projected market volume by the year 2028 is a huge US$33.15bn. Simply put, Americans can’t get enough of online gambling — but why is this?
The number one reason behind the growth of online gambling in the US is convenience. If you want to bet on sports, you can fire up your smartphone and use FanDuel or another similar platform. On the other hand, if you want to play online casino games, you can join one of the 2,000+ online casinos on the internet in a matter of seconds.
With such a crazy range of choice, this had led to a rise in trusted review sites, like Gamble-USA.com. Now, most Americans are using review sites to find sportsbooks and online casinos, as it makes choosing the right platform for them much easier. This is how gambling companies like FanDuel gain a lot of their customers.
Is FanDuel Good for Betting?
FanDuel is a great platform for betting, which is why it owns the largest market share. With FanDuel, you get a sportsbook, casino, daily fantasy sports, excellent cybersecurity, and more, so it’s definitely useful if you’re a fan of online gambling. And with FanDuel recently joining the NYSE, you can expect them to expand further, increase their dominance of the market, and start offering even more incentives to customers, such as exciting betting promos.
