FanDuel has again become the largest US iGaming operator by revenue in November, according to analysts at JMP Securities.
The Flutter-owned operator held a 27.4% online casino market share last month, compared to the 25.4% reported in Q3.
This contrasts to its main US competitor DraftKings, which now has a 26.1% slice of the American market down slightly compared to its 27.0% total in the three-month period ending 30 September.
The news comes amid an overall acceleration of US iGaming growth.
The analysts said: “November iGaming revenue increased 29% YoY in the US, following growth of 31% in October. The growth rate exceeding 25% marks the fourth time in the last five months; TTM spend-per-adult was $268 in November, up 56% in the last two years.”
While the traditional DFS giants traded podium positions, the analysts noted November was also a strong month for BetMGM which, at 22.3% of GGR, recorded its strongest level of the year.
Another notable development was 2.3% recorded by the Matt King-led Fanatics Betting and Gaming, representing its highest ever iGaming market share.
JMP said it continues to watch the business as its market share has increased every month since February 2024.
The analysts added they believe market share gains from sports betting are supporting a higher cross-sell rate into iGaming.
Meanwhile, Penn Entertainment’s ESPN Bet has retained its relatively stable market share, just below 2%.
FanDuel continues speedy iGaming growth in US
In Flutter’s Q3 report, the business recorded $368m in US iGaming revenue, up 46% from the same period the previous year.
In the company’s earnings call, chief executive Peter Jackson highlighted product improvements as boosting its performance in this area.
He said: “In iGaming, product improvements also drove our AMP base 43% higher and a step-up in our customer frequency.
“We know that our customers’ top preference is to see exclusive and well-loved gaming franchises, and we continue to execute on delivering these with the launch of the Pure Imagination gaming title and our Wonka iGaming series, quickly becoming our second most popular slot game for new customers, next only to World of Wonka, which was launched in Q1.”