In a television interview, the CEO said that the country is three hundred percent ahead of its target. It’s only New Jersey that features a mobile betting outlet, while other two have retail. But the CEO didn’t hesitate to express that the market continues to be black.
According to experts, illegal sports betting in the country is worth $50 billion to $150 billion. But Jason Robins, despite his strong belief in the black market, said that it’s not easy to determine actual statistics.
The DraftKings-FanDuel Partnership
In November 2016, Jason Robins and his company decided to merge with FanDuel, a rival daily fantasy sports company. The partnership was sought to be the summit for DraftKings, which was established in 2012. In July, however, the tables turned against the collaboration after the Federal Trade Commission put an end to the deal, claiming that the partnership would have brought 90 percent of the country’s daily fantasy sports market under its domination.
The FTC’s decision proved to be a massive impediment for DraftKings. But the much-anticipated Supreme Court ruling in favor of sports betting shows the CEO a ray of hope. The company is en route to transforming its business to keep pace with the new sports betting and gambling reality in the country. Besides launching a sportsbook app in New Jersey, DraftKings started an office in San Francisco and now intends to do the same in Las Vegas soon.
Achieving the type of growth that the company is aiming at isn’t a piece of cake for sure. In August, a report said that DraftKings would receive an investment of two-hundred million at a pre-valuation of 1.5 billion dollars, the maximum of the nine-hundred million dollar funding that the company received in five years.
The company is now betting on the country’s restaurant industry to improve its business. They have entered into a partnership with Buffalo Wild Wings to bring fantasy football to restaurants during this year’s football season.
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