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DraftKings Brings in $1.4 Billion in Revenue in Q4 2024

Ziv Chen

Last Updated: February 14, 2025 2:09 PM EST • 1 min 41 sec read.

DraftKings Brings in $1.4 Billion in Revenue in Q4 2024
Pictured: Outside the Nasdaq stock exchange decorated for a belated welcoming for DraftKings. Photo by Richard B. Levine / SIPA.

DraftKings, one of our best sports betting sites, has revealed its Q4 and fiscal year 2024 results.

The company has announced it collected almost $1.4 billion in Q4, a year-over-year increase of 13%. That’s a jump of $162 million.

“We continued to efficiently acquire and engage customers, expand structural sportsbook hold percentage and optimize promotional reinvestment in fiscal year 2024, while we simultaneously experienced customer-friendly sport outcomes. Looking ahead to 2025 and beyond, I am excited to further enhance our customer economics through new initiatives such as extending our lead in live betting and advancing cross sell efforts to and from new verticals. Our focus remains on driving sustainable growth in revenue and profitability,” said Jason Robins, CEO and Co-Founder of DraftKings.

Details

According to the report, the revenue increase was powered by new customer acquisition and engagement. DraftKings is now live in 25 states and Washington, D.C., covering around 49% of the population. You don't need a DraftKings promo code to see the site's offerings.

A significant part of this was powered by DraftKings’ acquisition of online lottery provider Jackpocket, completed in April 2024. The move for the company was announced in its announcement of its Q4 2023 results. DraftKings offers a wide range of iGaming options if you live in a jurisdiction with legal real-money online casinos by using a DraftKings casino promo code.

Monthly unique players (MUP) increased by 36% compared to the same period in the previous year. However, removing the customers from Jackpocket from the 4.8 million total brings the growth down to 16%.

However, average revenue per MUP (ARPMUP) fell 16% to $97 compared to the previous year. The decrease was due primarily to the addition of Jackpocket customers; Removing Jackpocket reduced it to 4%.

DraftKings raises its predictions

Following its Q4 2024 results, DraftKings has raised its guidance for revenue in the midpoint of fiscal year 2025 at $6.3 billion to $6.6 billion compared to its previous suggestion of $6.2 billion to $6.6 billion. 

If its predictions are correct, DraftKings revenues in FY2025 would represent year-on-year growth of 35%.

“2024 was a milestone year for DraftKings as we achieved our first year of positive Adjusted EBITDA. Additionally, we began executing on our inaugural share repurchase authorization. With strong underlying health across our core value drivers, we are raising the midpoint of our fiscal year 2025 revenue guidance to $6.45 billion from $6.4 billion and reaffirming our fiscal year 2025 Adjusted EBITDA guidance range of $900 million to $1.0 billion,” commented DraftKings Chief Financial Officer Alan Ellingson.

The company’s predictions for FY2025 do not include year-to-date outcomes or the impact of potential sports betting market launches like Missouri.

Written By:
Ziv Chen
Ziv has over two decades of experience in the igaming and sports betting industry, having served in senior marketing and business development positions with both B2C and B2B companies, including Playtech and Microgaming. In 2019, Ziv decided to pursue his passion for writing and became a fulltime industry journalist, covering casino, sports, and gambling business news. He’s specialties include casino games and technology, US state gambling regulation, company performance, as well as gambling affiliates and marketing. As a Pitt graduate, Ziv is a diehard fan of all Pittsburgh sports teams, with the Steelers at the top of the list. In his free time, he enjoys reading crime fiction, biographies (mainly of sports personalities, but not only) and American history. Ziv’s Favorite quote: “We're going to pursue perfection, knowing full well we won't catch it, but we're going to relentlessly chase it," Mike Tomlin, Pittsburgh Steelers Head Coach.