US iGaming brand rankings 2026: who’s challenging the FanDuel-DraftKings duopoly

The US regulated iGaming market keeps growing, but demand isn’t moving to licensed operators at the same pace.

New Blask data for the first half of 2026 shows that rising GGR among licensed operators doesn’t automatically mean demand is shifting into the regulated sector. On paper, FanDuel and DraftKings are the undisputed leaders, backed by heavy marketing investment and years of expansion across newly regulated states. But that picture relies on incomplete data. 

Real demand vs. regulatory reports: who’s actually on top

Regulatory GGR statistics capture only licensed operators. Blask closes this gap with BAP — a metric that distributes consumer demand across all brands regardless of their licensing status.

By BAP, the leaders for the first half of 2026 are neither FanDuel nor DraftKings.

Bovada ranks first by BAP, with $3.9B in CEB — on par with FanDuel’s $3.7B and DraftKings’ $3.5B. BetMGM lags far behind at $1.1B, trailing not only the market leaders but also offshore brands MyBookie and Rainbet.

The gap widens at the market-wide level: in March 2026, Blask estimated offshore brands’ CEB at $4.6B against $2.1B for licensed operators — 69% of the tracked earnings base belonged to a segment that doesn’t appear in official statistics.

This picture aligns with the American Gaming Association’s estimates: Americans place around $84B in bets through illegal and offshore operators every year, generating roughly $5B in revenue outside state tax systems.

New entrants and a reshuffled pecking order

Outside the regulated market, Rainbet was the standout story of the first half. After entering the US in fall 2025, the brand climbed to fifth place by BAP, leapfrogging several established offshore and licensed rivals. Its annual growth reached 297.16%, though much of that trajectory reflects a low starting base.

Some licensed operators shifted strategy at the same time. In December 2025, Penn Entertainment shut down ESPN Bet and relaunched the platform under the theScore Bet brand, ending its partnership with ESPN ahead of schedule. ESPN soon signed an exclusive deal with DraftKings for odds and sportsbook service integration.

Despite FanDuel and DraftKings dominating the regulated segment, Blask’s ranking confirms the split visible above: three of the top four spots by BAP go to offshore brands, with only DraftKings breaking into the regulated side’s upper tier.

Follow the US brand rankings → blask.com/market/usa/