DraftKings is undoubtedly one of the top operators, if not the top gambling operator in the country. Consumers also realize that, as well. According to a J.P. Morgan US Online Sports Betting and iGaming Survey, respondents voted that DraftKings offered the best user experience and offered the most wagering options.
DraftKings has one of the best PA online casinos within the Keystone State, and has a strong sports betting platform, too. The company released some interesting nuggets during its investor day earlier this week, which should keep it as a market leader.
Survey says DraftKings provides top product in gambling market
J.P. Morgan’s survey included 1,104 responses across 10 days in 11 states in late September. The results led to DraftKings having the best product in the overall gambling market:
Which platform do you view as having the most intuitive interface/best user experience?
- DraftKings: 36%
- Player B: 33%
- Player C: 13%
- Player D: 6%
- Player E: 6%
- Player F: 3%
Which platform do you view as offering the most wagering options?
- DraftKings: 36%
- Player B: 30%
- Player C: 14%
- Player D: 8%
- Player E: 5%
- Player F: 4%
During the past several earnings calls, developing the best product has been a point of emphasis for DraftKings CEO, Jason Robins. Earlier this month, Robins said:
“We’ve said pretty much from day one that product wins, and that is, first and foremost, the thing that we feel like has to be at the absolute forefront of the industry in order to be the best. Obviously, there are a lot of other things that go into customer experience, marketing, analytics, many other elements of the business are important, and we invest across those, too. But really the heart and soul of the organization is product and technology.”
Despite the Pennsylvania Gaming Control Board (PGCB) breaking down revenue by license, DraftKings Casino PA is the top operator within the state. Hollywood Penn National, which partners with DraftKings, BetMGM Casino PA, Hollywood Casino PA and PointsBet Casino PA, leads the state with $632.4 million in YTD revenue.
On the sports side, DraftKings Sportsbook PA has produced $1.38 billion in YTD handle, which is good for a 27.6% market share. It is behind FanDuel Sportsbook PA, which has generated $1.91 billion in YTD handle and a 38.2% market share.
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How new sportsbook products will help DraftKings Casino PA
One of the newest products DraftKings announced during investor day is its Progressive Parlay offering. Players can build a parlay between three and 12 legs and miss on up to three and still win money.
The product has not launched yet, but will be seamlessly integrated within DraftKings’ app. There is no sportsbook to knowledge that is offering to pay out players for multiple losing legs on a parlay.
DraftKings became the No. 1 online gambling operator in the country in August. DraftKings’ investor presentation shows a 33% market share in online casino and sports betting gross gaming revenue (GGR). The Earnings+More newsletter reported FanDuel at approximately 30% market share.
With such innovation as launching Progressive Parlays, it’s obvious that DraftKings is looking to attract more customers to both platforms. What DraftKings does better than most, is the ability to cross-sell its sportsbook players into the online casino. Robins said during the most recent earnings call:
“We just continue to be able to cross-sell better and acquire more efficiently as we get more data and test more things. We don’t have to reacquire a lot of the customers because such a large percentage of our share does come from cross-sell.”
While DraftKings is improving its sportsbook product with new offerings and technology, it’s automatically going to enhance its online casino positioning, too.