DraftKings Archives - Legal Sports Report

Former Stars Exec: DraftKings, SBTech Face ‘Outright Concussion’ In Platform Migration

Platform migrations have slowed down many ambitious online gambling companies. How will DraftKings handle its transition to the SBTech platform? Read More

Posted on: July 13, 2020 | | Brad Allen

DraftKings Secures Illinois Market Access, But When Will App Launch?

DraftKings has secured market access for Illinois thanks to new partnership with the Casino Queen property in East St. Louis. The partnership was noted in an SEC filing earlier this month, and could herald an imminent launch for DraftKings in the state. A Sportico report earlier Tuesday first highlighted the information. DraftKings declined to provide […] Read More

Posted on: June 30, 2020 | | Brad Allen

The Week In Sports Betting News: Cash Rules Everything Around Me

Happy Monday, everyone. Continued positive news around leagues returning to action means sports betting should be ramping up starting next month. Keep up with the biggest sports betting stories by subscribing to the LSR Podcast. Last week’s episode kicked off with one of the biggest stories of the week: the almost-certain death of California‘s sports […] Read More

Posted on: June 29, 2020 | | Matthew Waters

Is Flutter A Better Bet For Investors Than DraftKings Stock?

Global equity research firm Redburn predicts Flutter is set for pole position in the US sports betting sector and undervalued by the market. Read More

Posted on: June 24, 2020 | | Brad Allen

How Many Millions Of DraftKings Stock Shares Just Sold Today?

Remember when DraftKings upsized its stock offering last week? That sale turned out to be even larger than expected. A total of 46 million shares of DraftKings stock were purchased Tuesday as the offering completed. The number of new shares held at 16 million, but shareholders exercised their full option for additional sales, bringing that […] Read More

Posted on: June 23, 2020 | | Adam Candee

Football Is Coming: FanDuel Grabs NFL Official League Data From Sportradar

According to Sportradar, the deal will give FanDuel access to the “fastest data feed available” for NFL in-play betting ahead of the 202 season Read More

Posted on: June 17, 2020 | | Brad Allen

Upsized DraftKings Stock Offering Will Raise Hundreds Of Millions In Cash

Initial questions about a new DraftKings stock offering appear long forgotten as the company announced seven million additional shares becoming available. That brings the total to 40 million shares at an offering price of $40, including 16 million new shares. The quick math: DraftKings could infuse $640 million in cash to give the company north […] Read More

Posted on: June 16, 2020 | | Adam Candee

Online PA Sports Betting Points Up As Major Sports Near Return

No one will mistake $78 million in PA sports betting handle for a traditionally good month. In the current environment, however, few likely would complain about nearly doubling April’s total wagered. Pennsylvania sports betting operators took just short of $78 million in wagers last month, generating $4.8 million in revenue. The entirety of that amount […] Read More

Posted on: June 16, 2020 | | Adam Candee

Return Of Sports Could Start Second Land Grab For US Sportsbook Operators

The return of sports could herald a major marketing war as US sportsbook operators compete for lapsed players. LSR investigates some of the strategies. Read More

Posted on: June 16, 2020 | | Brad Allen

NJ Sports Betting Handle Doubles Up April But Lags Last Year

Doubling handle from the previous month normally shows market strength but May’s NJ sports betting totals present the outlier case. Sportsbooks posted nearly $118 million in handle last month, a notable number in a month with no US pro sports leagues operating. The New Jersey sports betting market registered just more than a third of […] Read More

Posted on: June 12, 2020 | | Adam Candee