raftKings has gone from being a fantasy sports website to one of the top U.S. sportsbooks, with their commercials running a lot at the start of the 2021 NFL season. The DraftKings sportsbook is now available in more than a dozen states.
The company went public right around the start of the ongoing COVID-19 pandemic. From there, DraftKings’ revenue soared by 98% in the next quarter compared to the previous one. Their stock price doubled in the next two months. By October 2020, the price had tripled.
In February 2021, the company projected revenue for the year would be between $900 million – $1 billion. It saw a new all-time high in March 2021.
DraftKings Sports Betting: Unstoppable Growth and Expansion
DraftKings betting reaches into every major professional sports league. Their recent partnerships include the NHL and Turner Sports (TNT). They’re also the official sportsbook for teams in the NFL and NBA.
They’ve now got their retail gift cards, and they’ve expanded their sportsbook and online casino holdings into the U.K. and South Africa.
Last week, DraftKings took a $22.4 billion offer off the table for a takeover of Entain, a U.K. bookmaker. That news alone boosted DraftKings’ stock price. Entain is a global company, operating in 18 countries on almost every continent, so DraftKings’ proposal reflects the magnitude of its growth.
DraftKings has made additional partnership agreements with the following:
- The Staples Center
- Madison Square Garden
- Dish Network
They’ve also stepped into the world of cryptocurrency and NFTs with Polygon and Ethereum. Since DraftKings went public back in April 2020, market value more than tripled to $20 billion.
How Does DraftKings Work
DraftKings began as a fantasy sports platform. In August 2018, the company launched its first online sportsbook in New Jersey. After the repeal of the federal ban on sports betting, things took off. Three years later, it’s one of the most well-known sportsbooks in the country. Even Michael Jordan became an investor when the company went public in 2020.
Their current promotion in 2021 centers around a $500 welcome bonus for new customers. Those site credits come with terms that equate to 20% of the initial deposit. A playthrough rule allows $1 for every $25 you wager through DraftKings.
Some of the featured betting odds on the DraftKings sportsbook cover these leagues:
- EFL Championship
- English Premier League
Other sports include:
The DraftKings sportsbook also allows betting on college football for all 11 conferences.
The homepage features live in-game betting. The dashboard includes promos, a sports betting guide, pools, and a VIP section.
DraftKings Online Casino
One of the more overlooked sections on the site might come from the online casino. It includes over 550 games. Here are some of the most popular:
- European Roulette
- Slots (472 games)
- The DraftKings online casino hosts:
- 70 table games
- 7 live dealer games (including poker)
- 7 video poker games
- Virtual sports
- Spooky Roulette ($2,500)
- Atomic Meltdown ($10,000)
- Multihand blackjack ($1,000)
Promos, leaderboards, free credits, a VIP section, and a player’s guide also make up the dashboard.
Finally, a DraftKings marketplace allows users to browse, buy, and sell NFTs.
And the fantasy sports section spans 15 leagues, including:
Back in August 2021, DraftKings co-founder and CEO Jason Robins talked to CNBC. The 2020 NFL season brought record-breaking numbers, Robins said. In Q2 this year, DraftKings reported $293 million in revenue, a 297% increase from the previous year. Monthly unique players reached 1.12 million, up 281% year-on-year.
Robins stated that online wagering helped to fuel his company’s success. The pandemic only increased that trend. As new markets emerge from sports betting legalization, competition remains fierce. Robins said that DraftKings accepts that challenge.