Home > DraftKings Reports Substantial Growth, New Features Coming
News Sports Betting

DraftKings Reports Substantial Growth, New Features Coming

DraftKings

DraftKings is one of the most famous and reputable companies in the sports betting industry. 

Founded in 2012, DraftKings offers daily fantasy sports and sports betting as a U.S.-regulated operator. DK is available for online bettors in 17 states and will continue spreading as the American market explodes.

DraftKings Beats the Odds

DraftKings reported a fourth-quarter (ending December 31) revenue increase of 43% from the year prior, claiming $473 million. This figure also exceeded the company’s estimate given during a third-quarter meeting by 8%.

Revenue also increased by 101% in 2021 compared to 2020, an encouraging sign for the company’s future. DraftKings is continuing to capitalize as more states legalize betting and more people become involved.

More Encouraging Numbers

DraftKings’ “Monthly Unique Players” increased 32% from 2020 to 2021; this means that new bettors were being acquired as the familiar faces were retained. 

The average revenue per MUP also increased by 19% in a one-year span, rising to $77. This has been attributed to diversity in offerings, cross-promotion and sales, and iGaming products.

Words from the Man in Charge

Jason Robins, DraftKings’ co-founder, Chief Executive Officer, and Chairman of the Board, recently spoke on his company’s success.

“DraftKings’ strong fourth-quarter performance exceeded our expectations on the top and bottom line,” said Jason Robins. “We enter 2022 positioned to grow our market share, further optimize our user experience and continue to strengthen our multi-product suite of offerings.”

Robins recently made headlines by claiming that, despite increasing numbers, the majority of Super Bowl bets were placed illegally. 

His justification? The three most populous states still do not have legal sports betting options. Robins estimated that 30 million people would place bets on Super Bowl LVI, an event that was expected to produce $7.61 billion in total wagers.

“So I think that’s why you’re seeing such aggressive activity on the customer acquisition side,” said Robins. “There’s just a flood of new customers coming into the legally regulated industry right now.”

DraftKings Prepares for the Future

Jason Robins doubled down on the positive sentiments of the finances by sharing new additions coming in the future. 

DraftKings’ CEO shared on a Q4 earnings call that the company would be launching a “go live” feature. This would allow bettors to talk about their bets and connect with other gamblers around the country. 

Robins also shared that Mike Golic Jr. had been brought on as a voice on the content side of the company’s operations. 

Chief Financial Officer Jason Park also chimed in, stating “it is clear the business model is working,” despite an 18% downswing on the stock market. 

Coming Soon

The next big event in American sports is the NBA’s All-Star Weekend, capped off by the All-Star Game. Team LeBron will take on Team Durant as slight favorites and four-time champions of the event.

Next on the calendar is the annual NCAA Basketball Tournament, fondly referred to as “March Madness.” The thrilling spectacle drew 16.9 million viewers for last year’s championship game and is huge in betting markets.

DraftKings will be at the front of both of these major events as well as the entirety of sports betting in 2022.

Subscribe for sports betting offers, promos and news

Related stories

The Stars Group selected as authorized gaming operator of NBA

Joan Mantini

New Jersey sports betting wagers continue to climb

Joan Mantini

GiG Signs Sportsbook Contract With Hard Rock International

Joan Mantini

Rivers Casino Pittsburgh Officially Opens its Sportsbook

Joan Mantini

SugarHouse Casino Makes Philly History

Joan Mantini

DraftKings Prepares to Launch Sports Betting in West Virginia

Joan Mantini