FanDuel Donates $6 Million to Prop 27 Campaign to Start September

FanDuel is now the leading funder of the Prop 27 campaign in California. The sportsbook giant gave a $6 million contribution to the online sports betting initiative on Sept. 1. It added $5,000 in two other early-September contributions, too.

That means FanDuel, which would launch FanDuel California if Prop 27 passes, has donated just north of $31 million to Prop 27. DraftKings comes in second, at about $26 million. BetMGM, Fanatics, and PENN Gaming (Barstool Sportsbook) have each contributed $25 million. Bally Bet and WynnBET have chipped in $12.5 million apiece.

In total, FanDuel and DraftKings have donated about $7 million to the Prop 27 campaign in September.

That represents the beginning of a late push in the California sports betting battle. With the Nov. 8 election just 62 days away and various organizations lining up left and right in opposition to Prop 27, US sportsbooks likely realize the need for more money to fund a tightly contested race in these final couple months.

That’s probably also why DraftKings sent an email to its California customers this week, urging them to vote yes on Prop 27. That email also directs users to a website, Prop27Sports.com, which was just created on Aug. 24 and is run by Yes on 27.

How Much Money Would FanDuel Make in California if Prop 27 Passes?

FanDuel and all sports betting companies would stand to make an incredible amount of money if Prop 27 passes. An August report published by Eilers & Krejcik Gaming, an independent research and consulting firm, predicted Prop 27 would drive $2.8 billion in annual California sports betting revenue, according to Business Insider. That same report projected FanDuel, DraftKings, and BetMGM would own 70% of the market, at least at first.

So, doing some math here — 70% of $2.8 billion is $1.96 billion, which breaks down to an average of $653.3 million in first-year revenue for each of the three sportsbooks, if they split revenue evenly. For comparison, halfway through the year, FanDuel had amassed a little more than $270 million in revenue in New York.