draft kings bets big on its earnings

Draft kings reports its impressive first quarter earnings revealing a revenue spike of 253% of 312 million compared to the 89 million the same period last year. This is a unpresidential run considering that people have eagerly anticipating the return of sports as well as it adding a esports league into the mix. “DraftKings is off to an outstanding start in 2021,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. “We continued to make progress and remain on track with the migration to our own in-house proprietary sports betting engine, strengthened our content and technology capabilities with the acquisitions of VSiN and BlueRibbon Software, and invested in further differentiating our product offering with the upcoming rollout of social functionality in our DFS and mobile Sports book apps.”

The company is hopping to retain and grow the monthly unique payers (‘’MUP”) within the 3 months of the first quarter the company recored a average of 1.5 million paying customers a rise of 114% compared to the same period last year . The company reports this is due to their strong focus towards customer retention investments such as acquisitions of daily fantasy sports and online sports betting and igaming

The future expansion of their platform is currently limited in 12 stated in the us making up only 25% of the US population here of the states that introduced legislation to legalise mobile sports betting this year – Wyoming, Arizona and New York – have already enacted mobile sports wagering laws. Maryland has made significant progress with a mobile and retail sports wagering bill passing the legislature and now pending action from the Governor. The three states that have enacted mobile sports wagering laws this year represent 8% of the U.S. population and bring the percentage of the population with legalised mobile sports betting to 35%.

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