DraftKings today announced its new “Draftkings Sportsbook” which aims to take the US online sportsbook industry by storm. With the recent supreme court ruling just a few weeks ago, many have wondered how adoption to legalized US sportsbook gambling would begin.
Draftkings has been an enterprise level competitor in the online gaming space for some time now. Their success has been in daily fantasy sports offerings where laws couldn’t touch them. For years, the daily fantasy sports offerings have been running through a loophole in the US Federal Law that allows for States to regulate fantasy sports wagering.
In a situation not unlike the one presented right now with online sportsbooks, Draft Kings has helped pioneer the American Gaming Industry. They are familiar with the Unlawful Internet Gambling Enforcement act which will be vital to how sportsbooks begin to come into existence digitally for US citizens. They are no stranger to controversy and have been successful in tough red tape situations like this in the past.
This is a good sign for US sports bettors. While Bovada, betonline.ag, and 5dimes are all great options, many users feel more comfortable gambling with brands that they know. Draftkings certainly is noteworthy in that category.
Benefits of a US Online Sportsbook
Since it’s inception in 2012, Draftkings has paid out over $5 Billion in winnings to its users. Its brand name gets over 450k searches per month on its own. It has done more than prove itself capable of handling the money and security of millions of players across the world.
In addition, Draftkings brings top notch technology to a space that needs it. 5Dimes is a great book, but if you’ve ever tried to gamble on the platform using your mobile phone, you know how much is left to be desired. A brand entering the space that was created in 2012 to be mobile first is extremely exciting to the average player.
Technology has been devoid in this space forever. The #1 tech market in the world is the United States. They’ve been barred from playing here due to government restrictions and players like William and Hill have really taken advantage. With US owners entering the legal sportsbook space, the global ripple effect could be huge. We’re all not only about to win in terms of our financial return, but in our user experience with interface too.
Daily Fantasy Sports
If you’re worried about DraftKings.com future as a Daily Fantasy Sports provider, you need not be. Companies don’t usually throw away successful sections of their business. While fantasy sports may lose some popularity due to legal changes, it is unlikely that users will want to lose that feeling of being able to bet on the success of both teams at once.
As a result, DraftKings has promised to “continue to innovate” and keep their daily fantasy sports offering churning new technology.
There is no timetable on the official release of the DraftKings sportsbook, but given how hot the iron is, I don’t think it will take long to pivot their implementation and have some sort of domestic setup (NBA, NHL, NFL, MLS, MLB) by the end of summer.
It’s amazing to see a company strike so quickly, but this iron is hot. With DraftKings jumping to be the first to catch this train, we expect more providers to stake their claims shortly. Look for the biggest names in gambling to soon announce their hype trains.
Buckle up. We’ve been waiting for these changes a long time. Until then, don’t forget to gamble overseas with a top sportsbook while you wait for legislation to play out. There’s still money to be made, especially with our free MLB picks.