Sports betting, online casino boom fuels big DraftKings revenue gains as rivals vie for market share

As the market for online sports betting and casino gaming grows, so are revenues sportsbook companies like DraftKings.

The growth of online sports betting and casino gaming across the U.S. has led to soaring revenue for sportsbook companies, but an already crowded race for consumers' dollars is about to get more competitive.that beat Wall Street's estimates on Thursday, has emerged as the biggest player in a space where several companies are jockeying for market share.

Last month, DraftKings overtook rival sportsbook FanDuel for the first time in market share to become the leader in the U.S. across online sports betting and casino gaming, according to market research firm Eilers & Krejcik Gaming. "The market isn't big enough to support more than maybe two or at most three platforms," said TD Cowen analyst Lance Vitanza.

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