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Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
 
The Company has one consolidated reportable segment. This segment provides users with Sportsbook, iGaming, DFS, digital lottery courier, prediction markets product offerings, and other online product offerings as well as the design, development and licensing of sports betting and casino gaming software for its Sportsbook and iGaming product offerings. The Company drives revenue primarily in North America and manages the business activities on a consolidated basis.

The determination of reportable operating segments is based on the Chief Operating Decision Maker’s (“CODM’s”) use of financial information provided for the purposes of assessing performance and making operating decisions. The Company's CODM is its Co-founder and Chief Executive Officer. The CODM uses net income (loss) to allocate resources and assess the performance of the Company by comparing actual results to historical results and previously forecasted financial information and the allocation of budget among cost of revenues, sales and marketing, product and technology, and general and administrative expenses. The measure of segment assets is reported on the consolidated balance sheet as Total assets.

The accounting policies of the Company’s consolidated segment are the same as those described in “Note 2 – Summary of Significant Accounting Policies and Practices.” Any intercompany revenues or expenses are eliminated in consolidation.

The following table presents revenue, significant expenses, and net income (loss) for our consolidated segment:
Year ended December 31,
202520242023
Total revenue$6,054,525 $4,767,699 $3,665,393 
Less:
Cost of revenue: Gaming taxes2,110,590 1,658,114 1,235,272 
Cost of revenue: Other1,189,909 1,061,992 872,178 
Adjusted sales and marketing expenses (2)
1,338,553 1,224,561 1,161,318 
Adjusted product and technology expenses (2)
370,260 292,991 240,422 
Adjusted general and administrative expenses (2)
425,226 348,734 307,238 
Depreciation and amortization 275,488 270,854 201,920 
Interest (income) expense, net 19,941 (44,300)(55,739)
Stock-based compensation339,311 381,367 398,463 
Income tax (benefit) provision4,274 (86,341)10,170 
Other segment items (3)
(22,737)167,012 96,293 
Consolidated net income (loss)$3,710 $(507,285)$(802,142)
(1)Cost of revenue: Other includes all cost of revenue, other than gaming tax, presented in the consolidated statements of operations, adjusted for the impact of depreciation and amortization and stock-based compensation.
(2)These items represent the respective line items in the consolidated statements of operations, adjusted for the impact of depreciation and amortization; stock-based compensation; transaction-related costs; certain litigation, settlement and related costs; certain advocacy and other related legal expenses; and other expenses, as further described below.
(3)Other segment items include: (i) transaction-related costs; (ii) certain external legal costs related to litigation and litigation settlement costs deemed unrelated to our ordinary-course business operations; (iii) certain costs relating to advocacy efforts and other legal expenses in jurisdictions where we do not operate certain product offerings and are actively seeking licensure, or similar approval, for those product offerings, excluding costs relating to advocacy efforts and other legal expenses in jurisdictions where we do not operate that are incurred in the ordinary course of business and costs relating to advocacy efforts and other legal expenses incurred in jurisdictions where related legislation has been passed and we currently operate; (iv) (gain) loss on remeasurement of warrant liabilities; (v) (gain) loss from equity method investments and (vi) other items not associated with our primary offerings, such as gains or losses on contingent consideration, gain or losses on business disposals and termination-related expenses.