DraftKings Investor Day Presentation Deck
Our latest estimate of the U.S. OSB market is at least $22B at 100% legalization
Estimated U.S. Online Sports Betting Gross Revenue
($ in billions)
$23(3)
$36
Implied U.S. Market
(U.K.)
(4)
Population Method (1) GDP Method (2)
U.S.'s GDP per Capita is 1.54x the U.K.'s GDP per Capita, implying a gross revenue per adult of $135.
Applies 2023E AU gross revenue per adult ($92) per H2 Gambling to U.S. adult population in 2023E.
$24(5)
$29(6)
Implied U.S. Market
(AU)
(7)
U.S.'s GDP per Capita is 1.19x AU's GDP per Capita, implying a gross revenue per adult of $109.
Applies 2023E NJ gross revenue per adult ($91) to U.S. adult population in 2023E. 2023E NJ gross revenue calculated as 2020 NJ gross revenue grown at CAGR of 20% from 2020 to 2023. 2020 NJ gross revenue per adult was $52.
U.S.'s GDP per Capita is 0.93x NJ's GDP per Capita, implying a gross revenue per adult of $84.
$24
$22(8)
Source: NJ Department of Gaming Enforcement; H2 Gambling Capital Global All Product Summary Report, June 2019; U.S. Census Bureau; U.K. Office for National Statistics; U.S. Bureau of Economic Analysis
Note: U.S. adult population is estimated to be 265 million in 2023. Per U.S. Census Bureau, the U.S. adult population is projected to be 259 million and 279 million in 2020 and 2030, respectively. We estimate the 2023 figure by assuming the U.S. adult population grows on a straight-line basis from 2020 to
2030. All U.S. TAMs are calculated using this 2023E population figure.
(1) Population method applies 2023E OSB gross revenue per adult for the U.K., Australia, and NJ, respectively, to the 2023E U.S. adult population.
(2)
GDP method adjusts the TAM extrapolations for the U.K.'s, Australia's, and NJ's GDP Per Capita relative to the U.S.'s GDP Per Capita.
(3)
Applies 2023E U.K. gross revenue per adult ($88) to U.S. adult population in 2023E. 2023E U.K. gross revenue calculated as 2018 U.K. gross revenue grown at 5-yr historical UK OSB CAGR of 13%.
(4)
(5)
(6)
(7)
(8)
Implied U.S. Market
(NJ)View entire presentation