He added that Progressive Parlay is what he calls a “win-win,” meaning he expects that customers will enjoy it and the company will reap higher margins off it. A specific launch date has not been set.ĭraftKings CEO Jason Robins said during the Investor Day presentation that he was unaware of any product like it, particularly among those offered by the largest sportsbooks. However, it will be regulated as sports betting, so it won’t be available in those fantasy-only states. Visually, the product appears and functions similar to those other apps, allowing bettors to quickly and simply build a parlay card and still win money if some of those bets lose. The new DraftKings product is a potential answer for No. Imagine those Arizona fantasy numbers, just larger, but with $0 in handle from regulated sports betting. their willingness to offer those products in states like California and Texas, which have huge populations and no legal sports betting. an effective product/user experience and 2. Success from the smaller fantasy companies has likely been two-fold: 1. While those fantasy numbers may look small, it’s caught the attention of betting executives and investors. By comparison, both DraftKings and FanDuel reported $115 million in mobile wagers in August alone. In Arizona, for example, PrizePicks had $28.2 million in entry fees this year through August, vastly outpacing fantasy products at DraftKings ($14.6 million) and FanDuel ($3.4 million). The feud has grown more intense in recent months, as those companies show sizeable growth in popularity and revenue. It will look familiar to users of apps such as PrizePicks and Underdog Fantasy, a class of fantasy companies that are increasingly at odds with the regulated betting establishment, which claims they are operating outside the law. DraftKings is launching a new prop-style betting product, one that closely resembles the offerings of smaller fantasy gaming companies that it is currently feuding with-both in public statements, and in statehouses around the country.ĭuring its Investor Day on Tuesday, DraftKings announced a new betting product called “Progressive Parlay,” which will allow customers to easily make over/under prop picks against the house.

Sports betting parlay cards online