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World desk4 min

DraftKings vs. FanDuel Stock: DKNG vs. Flutter’s FLUT

DraftKings trades as DKNG; FanDuel is part of Flutter Entertainment, whose stock trades as FLUT. Here’s what that means for comparing the companies’ reported results and risks.
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You can buy DraftKings stock under the ticker DKNG, but FanDuel does not trade as a separate public stock. FanDuel is part of Flutter Entertainment, whose shares trade as FLUT on the New York Stock Exchange. Buying FLUT means investing in Flutter’s wider business—not FanDuel alone.

Can you buy FanDuel stock?

No standalone FanDuel ticker is identified in the companies’ official filings. Flutter owns FanDuel; in July 2025, Flutter announced it would acquire Boyd Gaming’s remaining 5% stake, taking its ownership to 100%. Flutter later said its shares were listed solely on the NYSE from August 3, 2026. DraftKings, by contrast, identifies its Class A common stock as DKNG on Nasdaq and says there is no public market for its Class B common stock. Flutter’s FanDuel ownership announcement; DraftKings’ listing disclosure.

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So the practical public-market comparison is DraftKings (DKNG) versus Flutter Entertainment (FLUT). DKNG represents equity in DraftKings. FLUT represents equity in a parent company with multiple brands and markets, including FanDuel. It is not a direct comparison of the FanDuel sportsbook with the DraftKings sportsbook.

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What each stock gives investors exposure to

Stock Issuer and listing What the business figures cover
DKNG DraftKings Inc.; Class A common stock on Nasdaq. DraftKings says its Class B common stock has no public market. DraftKings listing disclosure. DraftKings’ own business and reported operating results.
FLUT Flutter Entertainment plc; solely listed on the NYSE as of August 3, 2026, according to Flutter. Flutter ownership and listing update. Flutter’s wider, multi-brand and international business, including FanDuel—not FanDuel alone.

That difference in scope matters when assessing revenue, customers, growth or risk. Flutter’s consolidated figures cannot be treated as FanDuel figures, and DraftKings’ company-wide results are not a sportsbook-only comparison either.

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How the reported businesses compare

Fiscal 2025 scale and operating measures

DraftKings reported fiscal 2025 revenue of $6.0545 billion, average monthly unique payers of 4.0 million, sportsbook handle of $53.6 billion, and sportsbook net revenue margin of 7.1%. These are company-reported measures for DraftKings, not stock returns or valuation measures. DraftKings fiscal 2025 results.

Flutter reported fiscal 2025 global revenue of $16.383 billion and 15.9 million average monthly players. These figures cover Flutter’s broader portfolio and international operations; they do not show FanDuel’s standalone revenue or player count. Flutter fiscal 2025 results.

The figures describe different business scopes and should not be read as a like-for-like measure of which sportsbook is larger or more profitable. Customer definitions and company reporting boundaries also matter when comparing monthly payer and player counts.

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FanDuel’s reported U.S. market shares

Flutter reported that FanDuel held 41% of U.S. online sportsbook gross gaming revenue and 27% of U.S. iGaming gross gaming revenue as of December 31, 2025. Flutter says these measures use published regulator reports in states where FanDuel was live and exclude Tennessee because it no longer reports the relevant data. They are company-reported market-share figures for the stated jurisdictions—not profit margins, stock returns or shares of Flutter’s total revenue. Flutter’s FanDuel market-share disclosure.

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Flutter’s 2025 Annual Report described FanDuel as its largest brand and called it the leading U.S. online sportsbook and iGaming operator, citing those market-share figures. That is Flutter’s characterization, and the percentages should be interpreted using the report’s date and coverage limits. Flutter 2025 Annual Report statement.

A more recent DraftKings quarter

DraftKings reported revenue of $1.443 billion for Q2 2026, down 5% year over year. It attributed the decrease primarily to customer-friendly sports outcomes and increased promotional reinvestment for customer acquisition on Sportsbook and Predictions. That is the company’s explanation for one quarter; it does not establish a lasting trend or predict future results. DraftKings Q2 2026 results.

When comparing quarterly performance, distinguish temporary sports results from underlying customer growth, retention and promotional spending. Reviewing several periods and relevant segment disclosures gives more context than extrapolating from a single quarter.

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What to compare before evaluating DKNG and FLUT

Operating scale alone does not tell you which stock is more attractive. A disciplined comparison should use the same periods and clearly defined measures:

  • Business exposure: Determine how much of Flutter’s performance is attributable to FanDuel, where disclosures allow, and how much comes from other brands and markets.
  • Growth and performance: Compare revenue growth, operating income or adjusted EBITDA, cash generation, customer metrics and customer-acquisition or promotional costs. Keep segment and consolidated figures distinct.
  • Non-GAAP measures: DraftKings’ investor-relations overview summarizes fiscal 2025 adjusted EBITDA at $620 million alongside revenue of $6.1 billion. Adjusted EBITDA is a company-presented non-GAAP measure, not net income; consult the company’s reconciliation when using it. DraftKings investor-relations overview.
  • Market position: Keep sportsbook gross gaming revenue share separate from iGaming share, and check the reporting date and jurisdiction coverage for each.
  • Risks and resilience: Review each issuer’s risk disclosures for regulation, gaming taxes, sports outcomes and hold, promotions, customer retention, competition and execution. These factors can affect results differently across markets and periods.
  • Valuation and shareholder returns: Use current prices and consistent calculations to compare valuation multiples, dilution, capital allocation and total returns. The figures here do not establish a current valuation or which stock has performed better.

What these figures can—and cannot—tell you

The reported measures help describe company scale, customer activity and selected aspects of market position. They do not answer whether either stock is cheap or likely to rise. Returns depend on the price paid, what investors already expect, capital structure, future regulation, taxes, competition and other business risks.

Before making a decision, check current company filings and market data. Use the same measurement dates and definitions for both issuers, and separate FanDuel-specific disclosures from Flutter’s consolidated results. This comparison is informational, not an investment recommendation.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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