It was built in response to a common customer pain point. The betting product that would become a 'must-have' in US sports betting, as Longley put it, was born halfway around the world at a company called Sportsbet, two years before legal sports betting would even start spreading in the US.

The same-game parlay was built to solve a customer complaint Insider spoke with top Flutter execs who brought the same-game parlay to FanDuel about how it was developed and the strategy that made it a force in US sports betting. 'In US sports betting, who wins with same-game parlays decides who wins the race,' the Earnings+More gambling newsletter wrote in March. BetMGM's part-owner Entain recently acquired a pricing and analytics company called Angstrom in part to buoy its same-game-parlay product. From each dollar wagered, FanDuel claims it makes about 50% more in gross gaming revenue than its competitors because of the popularity of the product.Įvery sports-betting operator, from DraftKings to newcomer Fanatics, now has or is building its version of the same-game parlay. They translate into higher margins for operators. Parlays are higher-risk, higher-reward bets since you're stacking odds against yourself. The product has also helped boost FanDuel's top line in the fiercely competitive industry. FanDuel captured 45% of gross gaming revenue during the 12 months to June 2023, firmly outpacing rival DraftKings' 28%, according to research firm Eilers and Krejcik Gaming. 'It definitely was a catalyst for FanDuel to grow its market share disproportionately at that time,' said Conor Farren, FanDuel's senior vice president of sports product and pricing.įanDuel remains the market-share leader in US online sports betting, though rival DraftKings has narrowed the gap in recent weeks. 'The same-game parlay was the right product in the right market at exactly the right time.' 'It became the killer app,' said Scott Longley, editor of the Earnings+More gambling newsletter. The same-game parlay, a phrase FanDuel coined, has since caught fire, meshing well with the high-scoring, stat-driven, athlete-personality focus of US sports - and propelled FanDuel to the forefront of the betting market. Have an account? Log in.įanDuel's Australian sister sportsbook, Sportsbet, had cracked the code a few years earlier, and Flutter had expanded the bet-builder format to the UK and other markets.įanDuel was eager to bring the technology to the US as it grasped for a competitive edge. This story is available exclusively to Business InsiderĪnd start reading now. Account icon An icon in the shape of a person's head and shoulders.

How to do parlay on fanduel