More tech enhancements are coming to the US horse betting market as DraftKings plans to roll out its shared wallet in the first half of 2025.
Currently, FanDuel is the only operator offering customers the ability to use a single deposit and the same funds across its three verticals: sports betting, horse betting, and online casino. DraftKings has been working on similar tech for its DK Horse app and expects to have it ready within the next 12 months.
“It will be spring to early summer next year,” Johnny Avello, director of race & sportsbook operations at DraftKings, recently told LSR.
Horse betting tech advancements
Several online sportsbooks entered the horse racing space in time for the Kentucky Derby last year. However, most required a separate account on a separate app.
FanDuel was the lone US sports betting app that allowed customers to use the same funds across all its verticals. The operator did not provide specific handle figures for the Kentucky Derby this year but did welcome a record number of users across its betting apps.
More than 700,000 customers bet on the Kentucky Derby this year, up from 500,000 the year before. More than 200,000 of those players accessed the horse betting app for the first time with the shared wallet through the FanDuel Sportsbook.
DK Horse grows in popularity
DK Horse offers a single sign-on with DraftKings online sportsbook.
Since April, players no longer need to log in repeatedly while switching between the products. Avello told LSR the enhancement led to twice as much engagement on the app.
He added that DK Horse was the most downloaded horse betting app on Kentucky Derby Day in May.
Horse betting partnership with TwinSpires
The DK Horse app is a white label of TwinSpires, one of the racing industry’s most popular advanced deposit-wagering apps.
Still, in the early stages of the partnership, DraftKings has taken a patient approach with advancements.
“It is not only about the shared wallet, honestly,” Avello said. “With our partnership with TwinSpires, we want to take the things horseplayers like and integrate them into the app. We’re trying to build it the right way, and that’s why we’re taking our time.”
More enhancements on the way
Caesars Sportsbook, which has a horse betting partnership with the New York Racing Association (NYRA), is also working on its shared wallet.
The operator did not provide a specific timeframe for its completion when reached on Friday.
FanDuel and NYRA are also working to incorporate advanced data into their horse betting apps to increase customer education and betting strategies.
