v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
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,
2026202520262025
Deferred revenue, beginning of the period$131,726 $133,700 $174,750 $166,463 
Deferred revenue, end of the period$149,015 $116,258 $149,015 $116,258 
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period$109,236 $114,776 $171,618 $154,413 

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 the 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 Sports (as defined below), iGaming and Other (as defined below), 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, 2026 and 2025 is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Sports$891,883 $997,872 $1,986,436 $1,879,829 
iGaming461,930 429,660 923,230 853,131 
Other89,422 84,975 179,645 188,353 
Total Revenue$1,443,235 $1,512,507 $3,089,311 $2,921,313 
Sports revenue includes online sportsbook, retail sportsbook, and Prediction Markets revenue. Other revenue primarily includes Fantasy, Lottery and interest income on customer deposits. The opening and closing balances of the Company’s accounts receivable from contracts with customers were $105.6 million and $82.1 million for the six months ended June 30, 2026, respectively, and $57.8 million and $69.0 million for the six months ended June 30, 2025, respectively.