Kalshi Vs FanDuel NFL: Who Pays More On $100, Every Game

If you have FanDuel on your phone and you keep hearing that Kalshi is cheaper, here is the question in the terms that matter: put $100 on the same team at both, and which one pays more if it wins? On Saturday I priced every NFL game still open for Sunday and Monday at both apps, 14 favorites and 14 underdogs, with Kalshi's fee counted. The widest gap is $28.99 on a $100 bet, on the Browns, and it is FanDuel's. On most of the board it is a few dollars either way.

Kalshi pays more on 9 of the 14 favorites. FanDuel pays more on 9 of the 14 underdogs. One thing to know before the tables: a Kalshi bet is a contract that pays $1 if your team wins, priced in cents, so a 60¢ contract on the Bears costs 60¢ for each dollar it can pay back, plus a small fee the app does not print on the ticket. The reason the two apps split by side is that fee and one sportsbook habit, both explained below, and neither is a reason to bet a game you were not going to bet.

The Three Games Where The App Matters Most

The Browns are the widest gap on the board and it belongs to FanDuel: +360 at FanDuel returns $360.00 on $100, and Kalshi at 22¢ plus the fee returns $331.01. Now the favorites, where the gaps are smaller and mostly run the other way. Start with the Bears. FanDuel has them at -176, which returns $56.82 on $100 if they win. Kalshi sells the same outcome at 60¢ a contract, 61.7¢ once the fee is added, and $100 buys enough contracts to return $62.13. Same team, same Sunday, $5.31 more at the exchange. The other end of the board is the Cowboys: FanDuel at -158 pays $63.29, Kalshi pays $59.58, so the app you already have is the better one there.

Every Favorite, $100 At Each App

The Kalshi column is the ask plus the fee at that price; "pays" is the profit on a $100 bet if the team wins, before any tax. Plus in the last column means Kalshi pays more, minus means FanDuel does. Kickoffs in Eastern time.

Across all 14 favorites, $100 on each at FanDuel would return $760 in profit if every one of them won, and the same fourteen bets at Kalshi would return $773. The median gap per game is $1.37 in Kalshi's favor. Small, but it runs one way on most of the board, and the 5 games where FanDuel pays more are the ones to check before assuming.

Every Underdog, $100 At Each App

FanDuel's underdog prices pay flat: +360 returns $360 on $100. Kalshi's contract price does the same job in cents.

Here the order flips. FanDuel pays more on 9 of the 14 underdogs, Kalshi on 5. The widest is the Browns: FanDuel at +360 returns $360.00 on $100, Kalshi $331.01, a $28.99 difference on the same bet. All 14 underdogs at FanDuel would return $2,612 if every one hit; at Kalshi, $2,562.

Why Kalshi Pays More On Favorites And FanDuel On Underdogs

Kalshi's price is the market's estimate of the chance, in cents: a 60¢ contract pays $1 if the Bears win, so the price is what you pay for each dollar of payout. What the app does not show on the ticket is the fee, 7% × price × (1 − price) on every contract you buy at a posted price, rounded up to the next cent per order. It is largest at 50 cents, 1.75¢ a contract, and smaller on big favorites and big underdogs. Per contract it is the same on both sides of a game, but $100 buys far more contracts on an underdog, so the fee takes a bigger bite of an underdog bet: about 5.2 percent of the stake on the Browns against 2.7 percent on the Bears. That is half of the split.

The other half comes from FanDuel. Sportsbooks price the side the public wants, the favorite, a little worse than the other side, and FanDuel's two prices on a Week 2 game add up to a median 4.0¢ over the dollar. Kalshi is not posting a house line; its price is whatever other bettors have offered to buy and sell at, and the best buy and sell offers sit a cent apart. So on a favorite Kalshi's fee is usually smaller than FanDuel's padding, and on an underdog FanDuel's price is often low enough to beat Kalshi after the fee. The full board with every sportsbook, Polymarket US and ProphetX on the same games shows the same pattern against 26 books, and Eytan Shander's Kalshi vs FanDuel comparison covers parlays, cash-out and limits, the parts of the two apps that are not a price.