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Reason

Jason Brennan

Online Sports Betting Giants Place Their Bets Against Growing Rivals

DraftKings Fanduel United States

In Las Vegas, cheating at the gambling tables can swiftly send you to jail. Yet in the world of fantasy sports betting, major companies are cheating and getting away with it: They are edging out rising competitors rather than playing fair. Their accomplice in this endeavor? None other than state legislatures.

The online fantasy sports betting industry is experiencing tremendous growth, with 2023 revenues in the U.S. alone exceeding $10 billion. Fans of live sports have become used to the constant flow of advertisements for the leading online sports betting companies, like DraftKings and FanDuel, during commercial breaks. All this growth shows potential competitors there's money to be made in the online sports betting market.

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