"FanDuel, which still isn’t profitable, has now raised $363 million since 2009. The company has a fast-growing revenue stream, though, and made nearly twice as

"FanDuel, which still isn’t profitable, has now raised $363 million since 2009. The company has a fast-growing revenue stream, though, and made nearly twice as much as rival DraftKings in 2014." Danger ahead. If payouts are even a little subsidized by investment/marketing dollars, into slightly-positive-expectation territory, this sort of business can achieve almost arbitrary revenue growth. (Plenty of smart money, or even just intuitive-do-whatever-works-until-it-stops-working money, will be happy to buy $10 bills for $9.50, over-and-over. Lazy susan revenues.) But when the promo subsidies end, or the happy-to-lose-for-a-while fish who are attracted by mass advertising reach 'extinction', the bulk revenue can disappear just as quickly. Will this remain a favored form of negative-expectation gambling afterwards? Maybe, but probably at a size way below its novelty/subsidy-goosed peak.... which might already be behind us.