DraftKings has much to be happy about when it comes to its latest operations in New Jersey. Giving the state its full undivided attention, the fantasy sports platform has been able to launch successfully its mobile and online arm. The results have been quite telling of the potential of the industry and this particular segment specifically.
DraftKings Forge Ahead with Brilliant Partnership
DraftKings have beaten all forecasts. Their results exceeded expectations by 300%, according to the company’s CEO Jason Robins who walked out on his day job to build a successful betting empire. In its first month of operation, DraftKings has managed to notch up almost $3 million in pure revenue.
Mr. Robins’ expectations were confirmed by sportsbook head Jamie Shea who also said that the results have been growing steadfastly. Part of this success, Shea chalks up to the simple fact that after Nevada, DraftKings’ mobile betting offer is the first in the United States.
Meanwhile, other useful gauges for the success of the company came from the New Jersey’s gabling regulator whose latest numbers have indicated that sports wagers have grown by a substantial chunk in August. More specifically, the $95.6 million raked in August are twice as much as the bets wagered in July, which is a resounding success for the defeat of PASPA!
Breaking the numbers further down, the August statistics indicated that in August, bettors put $74 million at physical venues and $21.7 million via their portable devices or connecting straight to an online bookmaker’s website. The legalization of mobile betting and its delivery has been a breath of fresh air in the ossified bones of the industry, which has been successfully treating its metaphorical rheumatism.
DraftKings – They Wear the Crown
When calculating their digital sportsbook revenue, the bookmaker has been quite successful in choosing Resorts Casino Hotel as their partner and adding SugarHouse and playMGM which brought the company nearly $3 million in revenue.
Commenting for respected iGaming portal iGaming Business, DraftKings’ Shea said that New Jersey is an exciting new place to be running the company’s operations. Shea also elaborated that the company’s idea was hardly just to be the first entity to open and run facilities or offer certain products.
Ultimately, the goal was to bring around the most worth it and notable innovation that would allow everyone to benefit form the excellent products that DraftKings puts on the market. With the total gaming revenue of New Jersey steadily climbing up, this is quite the possible long-term goal right there.
TO compare how well New Jersey was performing, its online gambling revenue hit nearly $26 million back in April. In August, its revenue jumped to over $300 million.
With the propitious results, DraftKings is quite well-poised to benefit from the bonanza in the sector. However, nobody thinks that this is just a fad and results are very likely to remain strong. Of course, analysts expect that these numbers will plateau at some point as there is a limit to how much the sector can grow.
But there may be no limit to how much DraftKings could add to its own offer.