The leader in daily fantasy sports is now in the gambling business. DraftKings joins a crowded New Jersey online casino market with the rollout of the first phase of their own casino.
The DraftKings casino is integrated into their existing sportsbook and operates under the Resorts Atlantic City gaming license, as does the sportsbook. As of Monday, they only offer blackjack, which is available through the DraftKings mobile app on Android. You can’t currently play on the browser or DraftKings' iOS Apple app, although they're likely to offer the game through both platforms in the future.
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With the addition of casino games, the biggest player in fantasy sports and online sports betting only gets stronger.
DraftKings is the unquestioned winner in sportsbook total revenue in New Jersey. In October, they took in $5.09 million — this includes a small amount of revenue from BetStars NJ, which also operates under the Resorts AC license, according to the New Jersey Division of Gaming Enforcement. The next closest online sportsbook was their biggest fantasy sports rival, FanDuel, which took in $2.43 million. The other online sportsbooks lag far behind.
In jumping into the New Jersey online casino market, DraftKings is attempting to cash in on an even larger revenue pool. Online casinos took in $26 million in revenue in November 2018 in New Jersey. With their crossover into more traditional games, DraftKings can appeal to more players and increase revenue. DraftKings' online casino is accessed directly through their sportsbook, so players can play blackjack without having to leave the app and then place a wager on any game.
DraftKings achieved its position atop the market by being aggressive, and a continued rollout of more casino games will certainly aim to further increase the gap between them and FanDuel. One wonders if the other daily sports fantasy powerhouse will follow suit and introduce their own online casino. Bet on it happening.
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