DraftKings Q2 Revenue Increases 37% Year-on-Year

“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 CEO Jason Robins.

Ziv Chen

Last Updated: August 8, 2025 1:43 PM EDT • 2 minute read

DraftKings Q2 Revenue Increases 37% Year-on-Year — Pictured: In this photo illustration, the DraftKings logo is displayed on a smartphone. Photo by Budrul Chukrut / SOPA Images via SIPA USA.

Another solid financial report from one of our best sports betting sites.

DraftKings has reported its second-quarter results, showing a 37% increase in revenue year-over-year from $1.1 billion to $1.5 billion, a $408 million rise.

In addition, net income reached $158 million, and adjusted EBITDA totalled $301 million, setting new records for the company. Sports betting handle in this quarter reached $11.4 billion, with sportsbook net revenue totalling just under $1 billion, leaving a sportsbook net revenue margin of 8.7%

Furthermore, real money online casino revenue increased 22.6% year over year, from $351 million in Q2 2024 to $430 million in Q2 2025.

The number of bettors using the site also increased, as DraftKings hit over 3.3 million Monthly Unique Players (MUPs), with Average Revenue per MUP (ARPMUP) averaging $151, a decrease of 29% year over year.

“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. 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,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-founder.

Results predict financial burden from Illinois tax rise

While DraftKings' revenue broke records in Q2, the company noted it was impacted by new tax legislation in the Illinois sports betting market that began during its second quarter. DraftKings suggested that tax increases in Illinois, New Jersey, and Louisiana will have financial impacts on its guidance for future performance.

Illinois lawmakers introduced a new taxation system for sports betting. Operators must pay 25 cents per bet placed for the first 20 million Tier 1 and Tier 2 bets per operator each year. Companies must then pay another 50 cents for each wager after that.

DraftKings has taken proactive measures to counter these issues. Beginning September 1, DraftKings is introducing a levy of 50 cents on every bet placed in Illinois in response to the new state legislature.

DraftKings CEO Robins has been vocal in his criticism of the sports betting tax, calling it “incredibly ill-conceived” during an interview back in June.

DraftKings Q2 results show Growth from Q1

Despite taking an economic hit from the new Illinois legislation in its second quarter, DraftKings still increased on its Q1 results. DraftKings' first-quarter revenue reached $1.4 billion, with its second-quarter revenue totaling $100 million more.

In the first quarter, sportsbook revenue was $882 million, rising to just under $1 billion in the second quarter. iGaming revenue quarter-on-quarter also rose by just under $7 million.

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.