DraftKings Announces 20% Revenue Rise to $1.4 billion

DraftKings, a giant in the DFS and sports betting space, has announced a 20% revenue rise in the first quarter of 2025.

Ziv Chen

Last updated: May 9, 2025 1:45 PM EDT • 2 min read

DraftKings Announces 20% Revenue Rise to $1.4 billion — Pictured: DraftKings Sportsbook at the WM Phoenix Open at TPC Scottsdale. Photo by Rob Schumacher / The Republic via Imagn Images.

Sports betting and Daily Fantasy Sports company DraftKings has reported its first quarter 2025 results, revealing that it has generated a 20% rise in year-on-year revenue.

Revenue reached $1.4 billion, including $882 million in sportsbook revenue, up 19.9% from the first quarter of 2024.

DraftKings also reported a net loss of $33.9 million in Q1 2025, down significantly from the loss of $142.6 million in the first quarter of last year.

DraftKings Accredits Customer Engagement Boost

DraftKings attributes the revenue rise in Q1 2025 to continued strong customer engagement, better performance from the sportsbook product, and the purchase of Jackpocket Inc. These factors were offset slightly by some sports outcomes, most notably during the March Madness tournament.

“Recent product enhancements are driving outperformance in our core value drivers, and our customer metrics continue to be strong through an evolving macroeconomic environment,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-founder. “If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and Adjusted EBITDA guidance.”

A number of the best sports betting sites have cited the presence of the top four seeds in the March Madness competition in the Final Four as a factor in dampening revenue in Q1 2025, although the quarter’s other big wagering event, the Super Bowl, was more favorable to sportsbooks, as the strong favorites Philadelphia beat Kansas City.

The figures for the first quarter have still led DraftKings to revise its revenue guidance for the fiscal year. In February 2025, they estimated a figure of between $6.3 billion and $6.6 billion, but that has now been adjusted to between $6.2 billion and $6.4 billion.

That would still represent revenue growth of 32% year-on-year. It has also revised its EBITDA guidance to between $900 million and $1 billion.

Mobile Sports and Casino

DraftKings is now offering sports betting apps in 25 states and Washington, D.C., covering around 49% of the national population. It is also operating its iGaming casino platform in five of the eight states where online casino gaming is legal. North of the border, it also offers its sportsbook and iGaming products in Ontario, representing 40% of the Canadian population.

That portfolio of regulated gambling licenses is likely to increase this year. Last November, voters in Missouri voted to approve legalized sports wagering, and DraftKings is expecting to be able to launch its sportsbook product in the state.

That launch will depend on market access and regulatory approval, but it is expected to occur in early December.

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.