The 2025 NFL season is already setting the stage for unprecedented betting volumes, as major operators DraftKings and BetMGM report historic momentum. Both sportsbooks are seeing customer activity soar despite broader economic concerns, reflecting the growing mainstream appeal and resilience of regulated sports betting in the United States.
DraftKings CEO Jason Robins highlighted that betting activity surged leading up to the NFL season opener, describing the numbers as “record-breaking” and predicting continued strength throughout the weekend. Similarly, BetMGM CEO Adam Greenblatt revealed that preseason betting volume rose 30%, marking the operator’s best-ever week for revenue. These results align with projections from the American Gaming Association, which forecasts an 8.5% increase in legal sports betting this season, totaling $30 billion in wagers.
Beyond betting activity, both operators reported improving fundamentals. DraftKings exceeded Wall Street forecasts in the second quarter, while BetMGM raised its earnings guidance twice in 2025. Executives attribute the performance to falling customer acquisition costs, growing retention, and the lucrative crossover between sports betting and iGaming, where margins are higher.
However, industry dynamics are shifting as prediction markets emerge as both competitors and potential allies. These platforms allow users to trade event-based contracts with fluctuating odds, raising questions about regulatory oversight and the role of the Commodity Futures Trading Commission. DraftKings has been linked to a potential acquisition of exchange platform Railbird, while FanDuel has already partnered with the Chicago Mercantile Exchange on financial event contracts.
Despite skepticism from some leaders, including MGM Resorts CEO Bill Hornbuckle, who warned of federal intervention risks, the appetite for innovation remains strong. With the NFL season as its engine, U.S. sports betting is not only expanding rapidly but also evolving in new directions.
