DraftKings has posted record quarterly figures for revenue and net income in its Q2 2025 financial results.
The sportsbook and fantasy games specialists reported second quarter revenue of $1.513 billion, a hefty growth of 37% year-over-year, with a net income of $158 million and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $301 million.
“We set records for revenue, net income and Adjusted EBITDA in the second quarter, driven by an acceleration in revenue growth to 37% year-over-year,” said Jason Robins, DraftKings’ CEO and co-founder.
“We are pleased to be maintaining our fiscal year 2025 guidance, with revenue expected to be closer to the high end of our range, highlighting the strength of our platform as we prepare for an exciting new state launch.”
DraftKings is expecting to debut its sports betting app in Missouri later this year, pending market access, licensure, regulatory and contractual approvals.
It has been a strong second quarter for several of the leading sports betting sites and online casino operators, with BetMGM and Ceasars Digital also delivering robust figures for Q2 2025.
Last week BetMGM reported that its online sports revenue was up by 61% for H1 2025 and for Q2 2025 total net revenue was $692 million, up by 36% year-over-year, with EBITDA of $86 million.
Revenue for the Caesars Digital segment increased 24.3% for the second quarter of this year, up to $343 million.
DraftKings Q2 2025 Report In Detail
Sportsbook revenue was a huge contributor to DraftKings’ $1.513 billion revenue, accounting for $997.9 million while showing an impressive 45.3% year-over-year growth.
Sports betting handle was approaching $11.5 billion representing a 6.3% increase on Q2 2024.
The return for iGaming revenue was $429.7 million which also recorded a healthy growth of 22.6% while Other Revenue totalled $85 million.
The Boston-based firm is maintaining the fiscal guidance for 2025 that was announced in May, and says it is on track to deliver Adjusted EBITDA of between $800 million to $900 million.
“We remain focused on investing in key growth initiatives across the organization to maximize shareholder returns over the long-term,” said Alan Ellingson, chief financial officer.
“In addition to our investments, we repurchased 6.5 million shares through our stock repurchase program in the first two quarters of this year.”
Plans For The Rest Of 2025
While expecting a boost from the impending launch in Missouri, presently planned for December, there was a warning about the anticipated financial impact of the higher tax rates introduced in New Jersey, Louisiana and Illinois.
Robins has already spoken out about what he feels are “incredibly ill-conceived” tax measures, reacting in June after Illinois had revealed its new state policy to put a tax on each bet.
“It just makes no sense and it was done in the dead of night,” said Robins.
“We had no warning, actually met with legislative leaders in the weeks before the budget was released, and they made no mention of this, so it’s sort of crazy how it all went down.
“Say somebody wants to make a bet of $1. The actual profit margin on that bet is probably about 10 cents.
“You’re getting charged 50 cents plus a tax on the 10 cents.
“Even at $10, the math doesn’t really work, you have to pass some of that along to the consumer.
“Otherwise, you can’t take that bet no matter what your size and scale is.”
The fiscal year guidance does not take into account the potential launch of a Prediction Markets offering.
It was an interesting footnote to the firm’s official Q2 2025 report, on the back of media speculation in July that DraftKings may be in talks to acquire Railbird Exchange, the prediction markets platform which recently gained federal licensure.
Jim Munro is a betting industry and gambling expert who has been a national newspaper journalist for over 30 years, predominantly at The Sunday Times and The Sun, where he wrote a weekly soccer betting column. Jim also worked on the launch of Virgin Bet with Gamesys and was subsequently head of editorial at LiveScore, the sports media and betting group.
