The US online sports betting market has evolved into a clear duopoly, with FanDuel and DraftKings controlling approximately 67% of the total market share. FanDuel holds 43% of sports betting gross gaming revenue and 27% of iGaming revenue, while DraftKings commands approximately 25% of the sports betting market.

Flutter Entertainment will buy Boyd Gaming's 5% stake in FanDuel in a deal worth about $1.76 billion, giving it complete ownership of the online betting operator, the companies said on Thursday. The deal gives FanDuel an implied valuation of about $31 billion,

Flutter Entertainment announced it will pay $1.755 billion to Boyd Gaming for sole ownership of FanDuel. Here's what that means.