DraftKings today is unveiling its new sports betting product, DraftKings Sportsbook, to New Jersey-based users. The product will feature a wide variety of moneyline and prop bets and parlay wagers, and will make DraftKings the first to market in the state with a mobile and online sportsbook offering. Other states are expected to be folded into DraftKings Sportsbook as regulations allow. DraftKings Sportsbook arrives after roughly a year of internal development and the Supreme Court ruling allowing states to legalize sports betting.
The product will contain various integrations with DraftKings’ core daily fantasy and DraftKings Live apps. Those integrations, and connections to the company’s base of funded DFS accounts, represent key sources of customer acquisition in the newly opened sports wagering landscape. Deposited funds with DraftKings Sportsbook will be available for use both there and in the DFS game. However, for funds originally deposited for DFS, only winnings can be applied to DraftKings Sportsbook.
DraftKings expects use of DraftKings Sportsbook to be predominantly mobile, as 90% of traffic to its DFS games arrives via mobile. “One of the core ideas was to make this really accessible and engaging for both your experienced bettor and the more casual audience that is newer to this,” said Dan Hannigan-Daley, DraftKings product lead. DraftKings Sportsbook will be available initially on an invite-only basis before being open more broadly to the public, likely within a few days. The product features a variety of geotargeted components to enable compliance with local and state regulations.
