TLDR DraftKings announced a “Super App” that combines sports betting, prediction markets, casino, and lottery gaming in one mobile platform The app will launch later this month to coincide with the NCAA Tournament and give DraftKings near-national reach DraftKings stock rose nearly 7% from Monday to Thursday after the announcement, though it has lost roughly half its value in six months The company will use the same pricing and risk infrastructure from its sportsbook to power prediction markets Responsible gaming measures from sports betting will apply to prediction markets, including deposit limits and self-exclusion options
DraftKings has unveiled plans for a new “Super App” that will bring sports betting and prediction markets together in one platform for customers across the United States.
The Boston-based gaming company made the announcement during its Investors’ Day presentation on March 2. The app is expected to launch later this month, timed to coincide with the NCAA Tournament.
CEO Jason Robins said the new app takes DraftKings’ existing sportsbook and casino app and adds prediction markets to it. That app already draws more than 80% of the company’s customers.
The Super App will give DraftKings a near-national reach. Customers will be able to use the sportsbook in states where sports betting is legal and switch to prediction markets in states where it is not.
“We will now have a sports product everywhere for customers across the entire country,” Robins said during the presentation.
DraftKings stock showed a mixed initial reaction. Shares dropped 5% in early trading Monday but recovered to close nearly flat at $23.82.
The stock performed better in the following days. By Thursday, shares reached $25.46, a nearly 7% jump from Monday’s close.
DraftKings Inc., DKNG
DraftKings Builds on Existing Infrastructure
The company plans to use the