v3.25.2
Revenue Recognition
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Deferred Revenue

The Company includes deferred revenue within accounts payable and accrued expenses and liabilities to users in the condensed consolidated balance sheets. The deferred revenue balances were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Deferred revenue, beginning of the period$133,700 $128,869 $166,463 $174,212 
Deferred revenue, end of the period$116,258 $117,490 $116,258 $117,490 
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period$114,776 $103,033 $154,413 $168,604 

Deferred revenue primarily represents contract liabilities related to the Company’s obligation to transfer future value in relation to in period transactions in which the Company has received consideration. These obligations are primarily related to incentive programs and wagered amounts associated with unsettled or pending outcomes that fluctuate based on volume of activity. Such obligations are recognized as liabilities when awarded to users and are recognized as revenue when those liabilities are later resolved, often within the following period.
Revenue Disaggregation

We disaggregate revenue from contracts with customers by product vertical as we believe it best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

Disaggregation of revenue for the three and six months ended June 30, 2025 and 2024 is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Sportsbook$997,872 $686,889 $1,879,829 $1,420,944 
iGaming429,660 350,552 853,131 720,549 
Other84,975 67,000 188,353 137,944 
Total Revenue$1,512,507 $1,104,441 $2,921,313 $2,279,437 

Sportsbook revenue includes online sportsbook and retail sportsbook. Other revenue primarily includes DFS, digital lottery courier, gaming software, media and advertising revenue. The opening and closing balances of the Company’s accounts receivable from contracts with customers were $57.8 million and $69.0 million for the six months ended June 30, 2025, respectively, and $47.5 million and $65.0 million for the six months ended June 30, 2024, respectively.