DraftKings Sets Revenue and Profit Record in Q2 2025

DraftKings reported its strongest quarter to date, with a huge jump in both revenue and profit. The operator continues to benefit from growing sportsbook engagement, expanding iGaming activity, and improved hold percentages. Alongside the record-setting financials, DraftKings is sticking to its full-year outlook and exploring a new acquisition that could add even more depth to its offering.

Good to know

• DraftKings added a $0.50 fee per mobile or online bet in Illinois, responding to a recent tax hike.
• Q2 2025 sports betting handle reached nearly $11.5 billion, up 6.3% year-over-year.
• iGaming revenue increased by 22.6% to $429.7 million compared to Q2 last year.

Revenue for the second quarter came in at just over $1.5 billion — the highest ever reported by the company. Net income hit $157.9 million, a sharp improvement from last year’s Q2 results. Adjusted EBITDA reached $300.6 million, which represents a 134.9% increase year-over-year and marks the most profitable quarter in DraftKings’ history.

CEO Jason Robins highlighted the growth in a statement:

“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.”

DraftKings Hits Record Revenue and Profit in Q2 2025

Sportsbook revenue was the largest contributor, totaling $997.9 million — up 45.3% from the same period in 2024. The nearly $11.5 billion in total handle shows continued interest from bettors, even in an increasingly competitive market. On the casino side, iGaming brought in $429.7 million, while other business lines added $85 million, a 26.8% jump from last year.

Operating income also turned positive at $150.6 million, reversing a $32.4 million loss posted during Q2 2024. The company credited strong customer retention, favorable betting outcomes, and higher hold rates for the shift.

DraftKings is maintaining its 2025 full-year guidance of $6.2 billion to $6.4 billion in revenue, with adjusted EBITDA expected to land between $800 million and $900 million. Robins said the company expects results to trend toward the higher end of that range, especially as a new state launch approaches.

Beyond core operations, DraftKings is also looking at future expansion. In mid-July, the company reportedly began talks to acquire Railbird Exchange, a federally licensed prediction markets platform. While no deal has been finalized and terms haven’t been shared, the move signals DraftKings’ continued interest in broadening its reach. Railbird has declined to comment, and DraftKings said it generally avoids discussing the details of potential acquisitions.

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