DraftKings Might Be Available Soon in New York

DraftKings to Pursue a Sports Betting License Online Betting

DraftKings to Pursue a Sports Betting License in New York

By Blake Roberts Founder & Editor in Chief Updated: 09 August 2021

Blake Roberts Founder & Editor in Chief

Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.

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The CEO of DraftKings, Jason Robins, recently released the company’s second-quarter report to stockholders. At the same time, he confirmed that the sports betting giant is pursuing an online sports betting license in New York. The company has become one of the first to confirm it is pursuing this license in what could become one of the biggest markets in the country.

The provider already runs a retail sportsbook at del Lago Resort and Casino. If it is successful in gaining a license for online sports betting in the state, it could have a positive result on the company and its success in the New York sports betting market. However, this will all be down to gaming regulators in the state.

Gaming Commission to Award Points on Bid Packages

The way in which the bidding process will work for these licenses is that applicants will submit bid packages, and these packages will then be awarded points by the gaming commission.

At least two proposed platform operators must be included in each bid package, and it is thought that DraftKings will submit a bid package to serve as a platform provider and operator. Robins said:

In New York, the RFA for mobile sports betting was issued in July and we are prepared to respond in a fulsome and timely manner. We look forward to the potential of offering mobile sports betting in New York.

During the second-quarter report call with stockholders, Robins also revealed that revenue stood at $298 million, which reflected an increase of 320 percent compared to the same period in 2020. However, this was when the first wave of the pandemic was still in full swing.

Online Sports Betting the Way Forward

With so many people now turning to online sports betting, this has been touted as the way forward by many industry experts. Sports betting online was already gaining huge popularity in states where it was legalized, but over the past year and a half, it has become hugely successful.

During the first wave of the pandemic last year, all casinos and retail sports betting facilities were closed for months. This meant that sports fans were unable to visit venues to place bets on their favorite sports and teams. While live sports did ground to a halt for a while, when events started taking place again, fans were eager to place bets.

Many turned to online sports betting facilities in states where this was legal, and they were able to place bets on major sports events, as well as alternatives while live sports were halted. As a result, the popularity of online sports betting rocketed and has continued to be hugely popular over the past year.

More and more states have legalized online sports betting since the start of the pandemic, which means that it now accounts for a huge chunk of total handle each month in many states.

Those that are successful in gaining licenses for online sports betting in New York can, therefore, look forward to huge success due to the continued popularity of this method of placing bets.