HIGHBuilt-inProduct / Revenue mix
93%
Sportsbook and iGaming
“10-K Item 1: 'two product offerings — Sportsbook and iGaming ... accounted for 93%, 93% and 91% of DraftKings' revenues'”
DKNG · Concentration risk · 10-K extracted
DraftKings (DKNG) concentration risks
Updated
The most significant concentration DraftKings discloses is Sportsbook and iGaming at 93%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: DraftKings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is defined by a single, high-share product exposure. Sportsbook and iGaming together accounted for 93% of revenues, a figure that was consistent at 93% in the prior year as well — a high share by disclosed size and structural in character. The company is, in effect, a two-product business at the revenue level, with virtually all commercial activity flowing through online sports betting and internet casino gaming. This is a deliberate strategic concentration rather than an incidental one; the company has organized its technology platform, marketing spend, and regulatory licensing strategy around these two product categories. The structural nature of the concentration means the primary risk channels are broad rather than counterparty-specific: regulatory developments — the pace of state-by-state sports betting and iGaming legalization, tax rate changes, or licensing requirements — are the dominant factor governing how large an addressable market the company can reach. Within the legal states, competitive dynamics among operators affect customer acquisition costs, promotional spending requirements, and hold rates. Neither of these channels involves a single customer, supplier, or geographic region that could shift abruptly; the exposure is to an industry-level regulatory and competitive environment. There are no disclosed geographic, customer, or supplier concentrations beyond this product disclosure. On balance, investors evaluating this company are making a judgment on the long-term trajectory of legal online gaming in the United States, since the 93% revenue share means that Sportsbook and iGaming results essentially constitute the investment thesis. Regulatory expansion and competitive intensity are the primary variables to monitor.
For the engine’s reasoning on DKNG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Gambling
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| DKNG● | DraftKings Inc. | 1 | 0 | 0 | 1 |
| RSI | Rush Street Interactive, Inc. | 0 | 1 | 0 | 1 |
| CHDN | Churchill Downs, Incorporated | 0 | 0 | 0 | 0 |
| FLUT | Flutter Entertainment plc | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.