DraftKings CEO backs DFS to thrive alongside sports betting

12 September 2018

DraftKings CEO and co-founder Jason Robins has insisted that the growth of sports betting in the US will not cannibalise daily fantasy sports in the country.

DraftKings was the first operator to launch an online and mobile sportsbook in New Jersey last month, in partnership with Kambi and Resorts Casino Hotel in Atlantic City.

However, just days after the launch, DraftKings continued to expand its DFS operations by striking a partnership with sports bar and restaurant chain Buffalo Wild Wings, which had earlier confirmed to iGamingBusiness.com that it was exploring opportunities to offer sports wagering.

Robins (pictured) told MetroBet that despite concerns in some quarters that DFS could be pushed out by sports betting across the US as the practice is gradually regulated over the coming years, “for now, I think it’s the opposite” with DFS “still growing”.

He added: “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.”

Robins added to Fox Business that DraftKings’ sports wagering operations are significantly ahead of expectations.

“We’re about 300 per cent ahead of where our target was,” he added. “It’s only New Jersey that has mobile betting now – two others have retail – I think it’s still largely black market.”

Just days ago, DraftKings become the latest sports betting provider to add PayPal to its list of payment deposit options. About half of credit card payments for online gambling in New Jersey are still being declined, according to Legal Sports Report.

The figures covering the first full month of online sports betting in New Jersey featuring DraftKings will be revealed by the state later today (Wednesday). DraftKings said last week that it had already processed one million sports bets in New Jersey.

With regard to the new nationwide partnership with Buffalo Wild Wings, Robins said: “I think their brand fits very well with our target demographic.

“They have a great vision for what they want to create an already a nice network of established restaurants that people generally go to, to watch sports and I think it’s just a very good fit for what we are trying to do.”

Image: DraftKings