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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:      
Net loss attributable to common stockholders $ 3,710 $ (507,285) $ (802,142)
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:      
Depreciation and amortization 275,488 270,854 201,920
Non-cash interest (income) expense, net 2,300 (15) 386
Stock-based compensation expense 339,311 381,367 398,463
(Gain) loss on remeasurement of warrant liabilities (4,747) 4,945 57,543
(Gain) loss from equity method investment (971) 468 719
(Gain) loss on marketable equity securities and other financial assets, net 4,406 12,940 75
Loss on sale of Vegas Sports Information Network, LLC 0 5,865 0
Deferred income taxes (18,225) (92,733) 5,849
Other non-cash (gain) loss, net (35,765) 6,280 554
Change in operating assets and liabilities, net of effect of acquisitions:      
Receivables reserved for users 60,688 248,320 (141,687)
Accounts receivable (57,695) (10,116) 3,558
Prepaid expenses and other current assets (16,423) (26,266) 2,451
Deposits and other non-current assets 1,950 1,701 (19,355)
Operating leases, net 0 130 6,558
Accounts payable and accrued expenses 132,182 (18,200) 103,593
Liabilities to users (44,452) 110,678 165,725
Long-term income tax liability 15,243 3,565 2,952
Other long-term liabilities 5,855 25,269 11,087
Net cash flows provided by (used in) operating activities 662,855 417,767 (1,751)
Cash Flows from Investing Activities:      
Purchases of property and equipment (15,352) (10,176) (20,902)
Cash paid for internally developed software costs (131,154) (95,698) (80,378)
Cash paid for gaming market access and licenses (7,956) (14,983) (12,105)
Proceeds from marketable equity securities and other financial assets 0 0 24,425
Cash paid for acquisitions, net of cash acquired (16,381) (441,487) 0
Collection of loan receivable 11,784 0 0
Other investing activities (6,938) (4,257) (1,400)
Net cash flows provided by (used in) investing activities (165,997) (566,601) (90,360)
Cash Flows from Financing Activities:      
Proceeds from Term B Loan, net 588,116 0 0
Repayment of Term B Loan principal (4,500) 0 0
Proceeds from exercise of warrants 0 0 288
Purchase of treasury stock for RSU withholding (257,759) (102,897) (80,049)
Proceeds from exercise of stock options 10,573 9,165 16,540
Purchase of treasury stock under Stock Repurchase Program (571,528) (48,067) 0
Proceeds from shares issued under Employee Stock Purchase Plan 15,243 0 0
Other financing activities (2,601) (2,667) 0
Net cash flows provided by (used in) financing activities (222,456) (144,466) (63,221)
Net increase (decrease) in cash and cash equivalents, restricted cash, and cash reserved for users 274,402 (293,300) (155,332)
Cash and cash equivalents, restricted cash, and cash reserved for users at the beginning of period 1,330,193 1,623,493 1,778,825
Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period 1,604,595 1,330,193 1,623,493
Disclosure of cash and cash equivalents, restricted cash, and cash reserved for users      
Cash and cash equivalents 1,127,545 788,287 1,270,503
Restricted cash 7,601 16,499 11,700
Cash reserved for users 469,449 525,407 341,290
Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period 1,604,595 1,330,193 1,623,493
Supplemental Disclosure of Noncash Investing and Financing Activities:      
Investing activities included in accounts payable and accrued expenses 0 3,462 569
Equity consideration issued for acquisitions 28,708 376,702 0
Shares issued for contingent consideration 4,962 0 0
Fair value of contingent consideration in connection with acquisitions 37,785 77,965 0
Decrease of warrant liabilities from cashless exercise of warrants 17,287 46,484 4,654
Supplemental Disclosure of Cash Activities:      
Increase (decrease) in cash reserved for users (55,958) 184,117 (128,363)
Cash paid for interest 27,881 0 0
Cash paid for income taxes $ 8,236 $ 5,268 $ 8,341