🧍60% of Americans have gambled over the past year (PBS)
💰 The US Online Gambling Market size is valued at USD 5.12 billion in 2024 (Mordor Intelligence)
📈 FanDuel (45%) and DraftKings (32%) have the largest market shares on the US sports betting market (SportsPro Media)
Over the past decade, the US betting industry has skyrocketed.
Now, the majority of Americans gamble at least once a year. Some do it online casinos, while others use sportsbooks. There’s also the lottery, too, which has managed to stay just as popular throughout the online gambling boom.
There are many reasons why the US betting industry has experienced such mega levels of success. Smartphone usage around the world has gone way up, which has provided people with the opportunity to gamble on-the-go wherever they are. Add on top of this the fact that a lot of US states, including New Jersey and Connecticut, have officially legalized online gambling, then you start to see the picture more clearly — but these aren’t the main reasons.
Simply put, Amy Howe (CEO of FanDuel) and Jason Robins (CEO of DraftKings) are why the US betting industry has taken over the country. These two entrepreneurs have tapped into huge markets and provided US gamblers with the perfect platforms for placing sports bets. Once you’ve finished this guide, you’ll easily understand why Amy Howe and Jason Robins are two of the best business leaders around. Let’s get started.
Who is Amy Howe?
Amy Howe is an American businesswoman who currently serves as CEO of FanDuel. Howe started out with McKinsey & Company and stayed with them for 14 years. From there, she worked for Live Nation as a Chief Strategy Officer before then joining Ticketmaster in 2015. After leaving Ticketmaster in 2020, Howe was then made the CEO of FanDuel — and it’s been non-stop success for her and the company ever since.
According to Paul Ricci, sports editor on Gamble USA, FanDuel has risen to the top of the legal US sports betting market for offering not only the best product, but also the best marketing and customer service out of any of the US operators.
What is FanDuel Sportsbook and Why Is It Successful?
FanDuel is officially the most popular American sportsbook in history, with a platform consisting of:
✅ Sports betting
✅ Fantasy sports
✅ An online casino and more
Since Amy Howe took the reins in 2021, FanDuel has gone from strength-to-strength, increasing its user base, annual revenue, and market percentage. In her first year alone (2022), FanDuel generated USD 3.23 billion revenue – yes, billion – which was a 62% increase on 2021. This ultimately enabled the company to reach a point of “structurally profitable”, which is something that DraftKings has yet to do. The profitability is (in large) thanks to the growing usage of the FanDuel casino, as well as the growing legalization of online gambling in the US. FanDuel also offers daily odds boosts, parlay insurance, and many other benefits, too, which have ultimately helped to attract (and keep) lots of users.
As of 2024, FanDuel has 3 million+ active users, the largest market share of all US sportsbooks, along with the most recognizable brand name in the iGaming industry. Naturally, Amy Howe wants to keep increasing FanDuel’s market share, with all the signs indicating that will happen over the coming years. With FanDuel owner Flutter officially listing itself on the New York Stock Exchange at the start of 2024, the sky is truly the limit. If the NYSE strategic move goes to plan, then FanDuel’s value will continue to skyrocket while also preventing competitors, including DraftKings, from overtaking them.
Who is Jason Robins?
Jason Robins is an iGaming sports betting executive who is currently the CEO of DraftKings. He co-founded DraftKings with two of his friends, Paul Liberman and Matthew Kalish, while they were all still working their day jobs. During that time, Robins was a marketing executive at Vistaprint. However, all three individuals had an interest in fantasy sports betting and decided to turn it into an actual business: the founding of DraftKings.
What is DraftKings and Why Is It Successful?
Behind FanDuel, DraftKings is the most popular US sports betting website. The platform is centred around:
✅ Sports betting
✅ Daily and weekly fantasy sport challenges
Since hitting the internet in 2012, DraftKings has experienced an incredible level of growth because of Jason Robins’ leadership quality. By 2017, it was already pulling in USD 191.84 million in revenue. Then, in 2021, the company experienced a huge 110% growth in revenue by hitting USD 1.3 billion at the end of the year. Primarily, this can be attributed to DraftKing’s immersive fantasy sports experience, favourable odds, and “same-game parlay” bet type, which is something that’s captivated US bettors over recent years. Of course, the COVID-19 pandemic (where more people were at home on their smartphones), also played a huge part in DraftKing’s growth between 2020 and 2022. While at home, people needed some entertainment, which is why millions opted to start using DraftKings while they watched sports on the TV. Since the pandemic ended, these new customers have stuck around, which has had a hugely positive impact on the overall size and value of DraftKings.
As of 2024, it’s an exciting time for DraftKings. The company is valued at USD 19.86 billion and has 2.3 million unique monthly users. If Jason Robins and his team are able to keep competing with BetDuel and (potentially) even surpass it, then DraftKings will be able to solidify itself as the sports betting king of America — but this will be quite a challenge.
Summary
Amy Howe and Jason Robins have helped define the modern-day US gambling industry. Now, countless sportsbooks and other betting companies look to FanDuel and DraftKings as blueprints to success, as both companies (led by their respective CEOs) have taken the US betting industry to heights that nobody thought imaginable. For now, at least, competitors like ESPN BET and BetRivers will have to sit back, as FanDuel and DraftKings are set to continue their domination of the US betting market for decades to come.
