Already the biggest daily fantasy sports company is planning on getting even bigger by the recent news that they plan on offering sports betting depending on how the legal situation plays out in the US. The Supreme Court is currently expected to rule in May 2018 about the possibility of states being allowed to offer legalized sports betting.
This would obviously be a massive opportunity for DraftKings to capitalize on and they have already announced they have been looking at partnering up with land based casinos to prep for the legalization of sports wagering since that seems to be a stipulation that any online betting sites will need to fulfill in order to get a gaming licence.
The move to Sports Betting comes as DraftKings continues to expand across the world for their Daily Fantasy Sports product. DraftKings already offers games in: The UK, Ireland, Germany, Austria, Malta and Australia as of 2018. In most of these countries it has a betting licence to operate and if DraftKings does open up as a full out sports book then it will have an easier track to compete worldwide against monster betting sites such as Bovada.
The advantage that DraftKings has in the US is that they will be able to market directly to the over 8 million players that have joined since inception and the over 4 million “active” players that it is reported to play on DraftKings regularly. When sports betting becomes legal in the US, DraftKings can start emailing promotions to players already connected to them and thus make the their impact in the betting space almost immediately as opposed to a new start-up who would have to battle to get new signups.
Will A DraftKings Sports Betting Site Succeed?
DraftKings has a lot of big financial backers and if Sports betting in the US becomes legal in every state and all the majors sports leagues (NFL, NBA, MLB, NHL) figure out how to play nicely with the gambling sites, DraftKings could potentially become one of the biggest betting sites in the US and then gain more investors to expand into more international markets.