To the delight of the sports wagering industry and some in the investment community, North Carolina’s General Assembly passed mobile sports betting legislation on Wednesday. Gov. Roy Cooper (D) will sign the bill into law, and it’s expected online sports betting will be live in the state in advance of the next Super Bowl.
The list of potential winners includes the usual suspects, namely FanDuel and DraftKings (NASDAQ: DKNG). In a Wednesday note to clients, JMP Securities analyst Jordan Bender highlighted the two online sportsbook giants as possible beneficiaries of legalization in the Tar Heel state.
The existing daily fantasy sports (DFS) market in North Carolina puts FanDuel and DraftKings in a favorable position to cross-sell the database, a nearly identical demographic, into the sports betting app,” noted the analyst. “Together, the two companies garner approximately 75% of the sports betting revenue in the US.”
By market share, FanDuel is the top online sportsbook operator in the US. Flutter Entertainment (OTC: PDYPY) owns 95% of the company, while the other 5% is controlled by Boyd Gaming (NYSE: BYD).
The list of potential winners includes the usual suspects, namely FanDuel and DraftKings (NASDAQ: DKNG). In a Wednesday note to clients, JMP Securities analyst Jordan Bender highlighted the two online sportsbook giants as possible beneficiaries of legalization in the Tar Heel state.
The existing daily fantasy sports (DFS) market in North Carolina puts FanDuel and DraftKings in a favorable position to cross-sell the database, a nearly identical demographic, into the sports betting app,” noted the analyst. “Together, the two companies garner approximately 75% of the sports betting revenue in the US.”
By market share, FanDuel is the top online sportsbook operator in the US. Flutter Entertainment (OTC: PDYPY) owns 95% of the company, while the other 5% is controlled by Boyd Gaming (NYSE: BYD).
