XML 41 R16.htm IDEA: XBRL DOCUMENT
v3.25.4

Revenue Recognition | 12 Months Ended
--- | ---
Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition Deferred Revenue The Company included deferred revenue within accounts payable and accrued expenses and liabilities to users in the consolidated balance sheets. The deferred revenue balances were as follows:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Deferred revenue, beginning of the period | $ | 166,463 |  |  | $ | 174,212 |  |  | $ | 133,851 |
Deferred revenue, end of the period | $ | 174,750 |  |  | $ | 166,463 |  |  | $ | 174,212 |
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period | $ | 165,209 |  |  | $ | 171,307 |  |  | $ | 129,246 |
Deferred revenue primarily represents contract liabilities related to the Company’s obligation to transfer future value in relation to in period transactions in which the Company has received consideration. These obligations are primarily related to incentive programs and wagered amounts associated with unsettled or pending outcomes that fluctuate based on volume of activity. Such obligations are recognized as liabilities when awarded to users and are recognized as revenue when those liabilities are later resolved, in subsequent periods. Revenue Disaggregation We disaggregate revenue from contracts with customers by product vertical and geography, as we believe it best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Disaggregation of revenue for years ended December 31, 2025, 2024 and 2023 are as follows:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Sportsbook | $ | 3,827,091 |  |  | $ | 2,902,857 |  |  | $ | 2,106,403 |
iGaming | 1,804,613 |  |  | 1,507,808 |  |  | 1,216,749 |
Other | 422,821 |  |  | 357,034 |  |  | 342,241 |
Total Revenue | $ | 6,054,525 |  |  | $ | 4,767,699 |  |  | $ | 3,665,393 |
Sportsbook revenue includes online and retail sportsbook. Other revenue primarily includes DFS and digital lottery courier, prediction markets and, beginning in 2025, interest income of $25.6 million on customer deposits. Prior period amounts were not material. The opening and closing balances of the Company’s accounts receivable from contracts with customers were $57.8 million and $105.6 million, respectively, for the year ended December 31, 2025 and $47.5 million and $57.8 million, respectively, for the year ended December 31, 2024. The following table presents the Company’s revenue by geographic region for the periods indicated:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
United States | $ | 5,895,465 |  |  | $ | 4,649,136 |  |  | $ | 3,595,622 |
International (1) | 159,060 |  |  | 118,563 |  |  | 69,771 |
Total Revenue | $ | 6,054,525 |  |  | $ | 4,767,699 |  |  | $ | 3,665,393 |
(1)No country or region represents greater than 10% of our total revenue as of the dates presented, other than the United States as presented above.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration