DraftKings Vs FanDuel: Cutthroat Competition

“Casino and gaming stocks have cutthroat competition. These companies have to pay money to get users in the door and to be profitable. In terms of the Big Game, FanDuel was able to outperform DraftKings (DKNG) with more people using their platform. Both of these companies are battling and hurting their earnings and margins as a result. It is a market share grab that is going on now and that gets expensive. The good news is that the market for sports betting continues to grow,” says LikeFolio’s Andy Swan. Kevin Hincks and Nathan Peterson weigh in on casinos encroaching on sports betting.