FanDuel, the US betting brand owned by Flutter Entertainment PLC (LSE:FLTR), continues to outperform its competitors in the US, according to the latest market readings, analysts at Jefferies said.
Shares in the Paddy Power and Betfair owner were well bid in London on Monday, with the stock adding 1.75% to 16,315p.
For August, FanDuel secured 42% of the gross gaming revenue (GGR), maintaining its dominance despite a slight year-on-year decline.
Its primary competitors, Draftkings Inc (NASDAQ:DKNG) and Anglo-US joint venture BetMGM, held 32% and 6% of the GGR share, respectively.
Jefferies noted that FanDuel's leading position allows it to benefit from the ongoing growth in the US online sports betting (OSB) market.
American Football remains the most important sport for US sportsbooks, generating 26% of OSB handle and GGR in 2023, noted analysts.