DraftKings is already the gold standard in daily fantasy sports but the company has quickly set itself up to be at the forefront of the sports betting boom as well, with legalization for most states right around the corner.
The company was the first to have a legal online sports book up and running in New Jersey, and it is currently offering “Team Pick’em” for users in all states.
“The idea here was to try and create something for everyone to be able to win money picking NFL games,” DraftKings CEO and founder Jason Robins told MetroBet.us of Team Pick’em. “It’s something the casual NFL fan is able to do, and we wanted to capitalize on the recent sports betting news as some states have already started. We’re riding the wave of people focusing on sports betting – picking games, not players. It’s a free game, even though you can win money.”
In New Jersey, the DraftKings online sports book is already offering just about everything a sports bettor could want – prop bets, in-game betting, and the opportunity to cash out in-game.
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Robins also exclusively told MetroBet.us that DraftKings will soon roll out new sports betting platforms and products that have never been used in the United States.
“The exciting thing about [the online sports book] is that most of the great innovations we haven’t even thought of yet,” Robins told MetroBet.us. “Our team is really looking forward to being creative and innovative in the coming years. In the short term, we do have something we’ve been working on that we haven’t announced yet. But it’s coming, and there are other new types of products we have in place that others haven’t implemented yet.”
With sports betting gaining so much momentum so quickly – much like the daily fantasy boom three years ago – one wonders if DraftKings’ bread and butter could take a hit in popularity.
“For now I think it’s the opposite. [DFS] is still growing,” Robins told MetroBet.us. “It’s a halo effect we’re seeing with sports betting and [DFS], not just in New Jersey but we’re seeing a big spike in customer re-activation for [DFS] across the board. The world changes quickly, and it’s hard to predict which way things are going to swing long-term. But I think [sports betting and fantasy sports] are complementary. Most people I know who play fantasy also bet. No one really sees one as a placement over the other. I think more people on our platform will create more activity.”
In addition to Team Pick ‘Em, DraftKings is offering something called “Flash Draft” for this fantasy football season. The idea is that you can pick a new fantasy team before the start of each quarter of the game, instead of just at the beginning of a game.
“It’s really an extension of what we’re already doing with daily drafting, but now you can actually do it during the game,” Robbins told MetroBet.us. “It gives people another opportunity if their initial lineup falls flat. If in the second or third quarter if you’re not thrilled with your picks and you see the game going a certain way, you can jump in with Flash Draft.”
There was a bit of buzz online last month that DraftKings could go into the casino industry itself with the rules currently in place that only physical casinos can open online sports books - unless there is a licensing partnership. DraftKings currently partners with Resorts Casino Hotel in Atlantic City to have legal online betting in New Jersey.
“I don’t think so [regarding a casino]. What we do is provide technology-driven products,” Robbins told MetroBet.us. “I think it’s a different business. Casino is real estate, it’s the hospitality business. The knowledge of how to run casinos is so different. We’re not positioned too well to do well in casinos. We are positioned very well on the mobile end of the sports betting market though. The world is moving online and to mobile anyway. I think we’re in a good spot.”