DraftKings Sportsbook Archives - Legal Sports Report

Media Frenzy: Can US Sportsbook Operators Truly Replicate The Sky Bet Model?

US sports betting operators have committed billions of dollars to Sky Bet-style media deals over the next decade, but is it money well spent? Read More

Posted on: November 25, 2020 | | Brad Allen

Massachusetts Sports Betting Again Rejected By Senate

The chances of Massachusetts even addressing sports betting this year, let alone legalizing, appear much longer after the Senate‘s budget decisions this week. The Senate again rejected the addition of sports betting to its fiscal 2021 budget proposal, which is months overdue. Sen. Bruce Tarr submitted an amendment legalizing sports wagering, just as he did […] Read More

Posted on: November 19, 2020 | | Matthew Waters

DraftKings Refutes Report NJ Sports Betting Whale Had Proxy Deal

DraftKings pushed back Friday on a report suggesting one of its VIP customers enjoyed a side deal to let him bet from outside New Jersey. A spokesperson for DraftKings told LSR that sportsbook director Johnny Avello did not have an arrangement with a customer claiming the company locked his account with a potentially winning $3 […] Read More

Posted on: November 6, 2020 | | Adam Candee

Analysis: How Free Bets, Bonuses Can Prop Up US Sports Betting Revenue

Pennsylvania sportsbooks gave away 92% of their online sports betting revenues as promotional credit in September. Is that a sustainable level? Read More

Posted on: October 20, 2020 | | Brad Allen

Analysts Split On DraftKings Stock Potential After New Share Offering

Everyone interested in US sports betting knew DraftKings stock would get some attention as the only US -listed, pure-play sports betting operator. Since going public in April, though, the stock exploded into more than that. Chad Beynon of Macquarie suggested the DraftKings stock is now considered part of the software and consumer internet high-growth sectors. […] Read More

Posted on: October 14, 2020 | | Matthew Waters

Did DraftKings Stock Offering Price Cause Concern Among Stock Market Investors?

DraftKings will likely add another $900 million to its balance sheet from its most recent stock offering, but at what cost? DraftKings priced its offering at $52 each for the 16 million new shares it will add to the market. That represents an 8.4% discount from Tuesday’s closing price and is 18.5% off the 52-week […] Read More

Posted on: October 8, 2020 | | Matthew Waters

Which US Sportsbook Brand Do People Recognize The Most?

A around 6% of adults in legal sports betting states use, or plan to use, FanDuel and DraftKings, according to a new survey. Read More

Posted on: October 8, 2020 | | Brad Allen

What Baltimore Sun Editorial Missed On Maryland Sports Betting Vote

Sen. Craig Zucker is confident he would have had a complete Maryland sports betting bill for this year’s referendum had the coronavirus pandemic not shut everything down. Everything did shut down, though, including the Maryland legislature in Annapolis. That left Zucker to strip the bill and instead made this year’s referendum a yes/no vote on […] Read More

Posted on: October 7, 2020 | | Matthew Waters

DraftKings To Raise $1 Billion Through Stock Offering; Company Has Record Quarter Despite Poor NFL Results

DraftKings' online sports betting handle jumped 460% in Q3, according to figures filed on Monday as part of a new share offering that will raise a billion dollars. Read More

Posted on: October 5, 2020 | | Brad Allen