DraftKings Sportsbook Information And Review.
On August 1, the DraftKings Sportsbook made its official debut as part of the New Jersey sports betting scene. The mobile app was released on an invite-only basis. Then on August 7, the company announced its availability to all New Jersey players (or people visiting the state), ages 21-and-up of course. As of August 2018, New Jersey is the only state where you can use the DraftKings Sportsbook.
The sportsbook is available as a mobile app you can download at the iTunes store here or access the app for Android devices here. The book is also available as a web platform for desktop/tablet devices here. Again, you may only be able to access these right now in New Jersey. The state’s Department of Gaming Enforcement requires operators to use geo-tracking technology to prevent out-of-state users from entering.
What The DraftKings Sportsbook Looks Like, What Bets You Can Make And Where You Can Use the DK Sportsbook
Here are some more screencaps showing certain screens and features at the sportsbook:
What Types of Sports Wagering Are Available?
The DraftKings Sportsbook will allow the specific types of bets as permitted by state regulators and state laws. For the most part, the same kind of wagering as in Nevada and available with offshore operators:
- Spread bets
- Money lines wagers
- Totals (team, quarters, halves, etc.)
- Futures (who will win the Super Bowl or CFB playoffs for example)
- Live and in-game wagering
Here’s new spokesperson Charles Barkley on Parlays:
How can you win $92 with $10 by betting on the Mets, Nationals and Reds tonight? Charles Barkley explains. pic.twitter.com/8nCmqI8oTe
— DraftKings Sportsbook (@DKSportsbook) August 15, 2018
DraftKings looks to be going big on in-game betting, which will allow users to place wagers as they happen in real time. In-game wagering can be useful for players who were late and were not able to get bets in before the game started. Some bettors are able to find get numbers in-game that they couldn’t before the game, and some like to make situational wagers when opportunities and game flow present.
Also the option to cash out of a live wager is interesting. Probably not advisable to bail unless you know that danger looms or see a situational advantage, but a good option to have. pic.twitter.com/KwAy95HOLA
— Sports Handle (@sports_handle) August 5, 2018
How Do I Deposit?
- In New Jersey you can use a debit card, bank transfer or credit card (although it’s legal, many banks will still decline such the transaction)
- When making a deposit, you can link up your bank account by logging into your online banking account, and verify the deposit/banking information that way.
- DraftKings now allows deposits and withdrawals via PayPal
Where Else Will the DraftKings Sportsbook Be Available?
At some point, probably next year, the DraftKings sportsbook in retail and mobile/web-based form will become one of the New York sportsbooks as well. In July 2018, DraftKings and the del Lago Resort & Casino in the Finger Lakes region in New York’s Finger Lakes region announced a partnership that will give DK a foothold in the state, which boasts a population of nearly 20 million.
“New York is one of the largest revenue opportunities for future sports wagering operators and we are thrilled to partner with del Lago Resort & Casino to offer sports fans a unique and novel sports betting experience, both at a physical sportsbook and on mobile when permitted,” said Jason Robins, CEO and co-founder of DraftKings, in July.
New York sports betting is not yet a reality, but likely will be coming in early 2019 once lawmakers and stakeholders are finished wrangling over details. There were multiple bills on the table in 2018 but none cleared the committee stage. (There is an outside change at NY sports betting could begin on-premises only at del Lago and three other New York commercial casinos prior to the legislature completing new legislation.)
One key component of the New York state law that came close to passage is that remote deposits and registrations by sports bettors would be permitted. So, if DraftKings offers a good product, user experience and menu of wagers, and of course, competitive lines, they could capture a pretty large market share from players all over the state. DraftKings is also in talks with additional potential partners across the country.
How The DK Sportsbook Came About in New Jersey
In June, DraftKings announced that it had chosen Resorts Casino Hotel in Atlantic City to be its NJ sports betting licensing partner. Both DraftKings and Resorts celebrated the pairing.
“We are at a pivotal moment in the development of sports betting in the U.S.,” said Morris Bailey, owner of Resorts Casino Hotel. “We are delighted to be able to have DraftKings utilize our gaming license in New Jersey. DraftKings continues to be at the forefront of sports entertainment innovation, and today’s announcement is the first step in being able to offer customers in New Jersey the most dynamic sports betting platform.”
This relationship makes sense for both sides: Daily fantasy sports co-leader DraftKings needed Resorts as a partner because NJ sports betting law restricts sports wagering certificates to Atlantic City casinos and racetracks in the Garden State. Those entities may partner with up to three entities to offer “skins” (or individually branded websites) for online mobile/web-based platforms for sports wagering.
In DraftKings, Resorts is getting a partner with an established brand and a large database of about 10 million DFS players (with some unknown number of active players) who may also be sports bettors.
It is not clear as of August whether there will be a DraftKings-branded physical sportsbook at the Resorts Hotel Casino in Atlantic City, New Jersey, like a FanDuel Sportsbook at the Meadowlands in northern New Jersey, but it’s certainly a possibility. So the online sportsbook, which is more compelling anyways, may just live digitally.
Resorts has also partnered with SB Tech, a worldwide sportsbook technology supplier that also handles sports betting risk-management, to service its retail sportsbook as well as its online and mobile channels in New Jersey. As such, it appears more likely that Resorts’ on-property sportsbook will be branded as Resorts with SB Tech handling the rest.
Another partnership of note? DraftKings has teamed up with European sports betting supplier Kambi Group. Kambi, a competitor of SB Tech, will manage DK’s single-game sports betting.
“Kambi’s technology is unique in that it empowers operators to innovate and create differentiated sports betting experiences, providing the flexibility which will be crucial in the developing U.S. market,” said Kambi CEO Kristian Nylén in a statement.
Founded in 2012, DraftKings is one of the two leading daily fantasy sports contest providers, the other being FanDuel, both of which have closely monitored the sports betting business and the possibility of expanded legal wagering in the United States.
Since its inception, DFS have been viewed as somewhat controversial due to the similarity with sports gambling, which until recently, has been illegal in the United States, outside of Nevada. At the federal level, daily fantasy sites (DFS) are skirted around the Unlawful Internet Gambling Enforcement Act (UIGEA) because such games has “an outcome that reflects the relative knowledge of the participants, or their skill at physical reaction or physical manipulation (but not chance), and, in the case of a fantasy or simulation sports game, has an outcome that is determined predominantly by accumulated statistical results of sporting events.”
Anyhow, the opportunity for DFS sites to move into sports betting opened up in May 2018 when the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) — the 1992 federal ban on full-fledged sports wagering outside Nevada.
Now the main question is, how does DraftKings pivot from daily fantasy to sports betting? The number of legal sports betting states has reached six as of July 2018 and it is likely to grow to roughly 16 to 20 by the end of 2019.
In February, before the Supreme Court ruled, DraftKings announced the hiring of Sean Hurley as its Head of Sportsbook with its primary office location in Hoboken, New Jersey. Hurley has been tasked with “building, launching and driving the sports betting vertical at DraftKings.”
DraftKings, currently operating through its app and online in states where daily fantasy is legal, will offer a large portion of their sportsbook as an online/mobile platform for placing sports bets. As technology advances, an emphasis on simplicity will be at the forefront of DraftKings’ sports betting agenda.
“People betting online will continue to do so… that’s what the consumer wants,” Robins said. “You have to have mobile and online to take people from the black market. People want to be able to access what they want from the Internet, from their mobile phones. You see that in virtually every industry in the world and this will be no different … we’re a mobile, online-first company.”
In DFS contests, users can compete against other players based off different criteria. Most contests use a “salary cap” format, requiring entrants to select players that are priced based on expected and past performances. Entrants must stay under a certain salary limit. Then based off each players’ performance, they will earn a certain amount of points. Those points then reflect a total score. Many different types of contest are offered, such as: head-to-head, tournaments, leagues, multipliers, etc.
GPP’s (Grand Prize Pool) are regarded as daily fantasy’s most popular game or tournament, at least the most popular for the general public. The rules for GPP’s are simple. The prizes are guaranteed, whether the lobby fills up or not. In a GPP, the pot is set at a certain payout and each of the top spots receive a designated percentage of the pool. Many of the GPP’s can range in amount of total pot from $100 all the way up to $5,000,000. An example layout of a GPP on a DFS has a buy-in of $5 and a pot of $1000, 1st place may receive 40% of the pot, 2nd receives 20%, 3rd receives 10%, 4-9 receives 5% of the total pot.