Major League Baseball brushed the dust off home plate on July 18. The Belmont Stakes occurred on June 20, and a Major League Soccer (MLS) tournament - named, appropriately enough, the MLS is Back Tournament - got rolling on July 8 and likely contributed to FanDuel’s first 800% spike. The skids were further greased by the fact that DraftKings and FanDuel offered $3.6 million and $3.2 million of promotional credits, respectively, to customers in July. First of all, professional sports started to come back online as summer rolled on, providing an outlet for pent up demand. These astronomical figures were fueled by several factors. This growth slows down a few weeks later, but then climbs back to the same towering peak in August, finishing summer with 412% year-over-year growth. In July, DraftKings shoots up to 300% year-over-year growth and despite a few dips down to “only” 50% year-over-year growth, finishes up the summer at 240%.įanDuel, however, really turns on the afterburners, achieving an eye-popping 800% year-over-year growth for July. In that same time, FanDuel racked up impressive 100%-200% year-over-year growth numbers.īelieve it or not, this is just the warmup. Spoiler alert: It’s even more than you think.Īfter a slight dip in year-over-year growth in the early days of the pandemic, DraftKings stabilized and picked up steam at the end of May and hit 100% year-over-year growth by the tail end of June. They had a serious itch to scratch, and the pandemic was depriving them of one of their preferred pastimes.Ī close look at consumer financial spend data for two popular online betting and fantasy sports companies, DraftKings and FanDuel, reveals just how much pent-up demand had been building around sports-related betting. It’s safe to say that everyone was feeling a little antsy as spring turned to summer and COVID-19 continued to keep many aspects of “normal life” frustratingly out of reach.īut people who like to wager on sporting events? They were feeling really antsy.
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