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DraftKings information


DraftKings Inc.
Company typePublic
Traded as
  • Nasdaq: DKNG (Class A)
  • Russell 1000 component
Industry
  • Daily fantasy sports
  • Sports betting
Founded2012; 12 years ago (2012)
Boston, Massachusetts, U.S.[1]
Founders
  • Jason Robins
  • Matt Kalish
  • Paul Liberman
Headquarters
Boston, Massachusetts
,
U.S.
Key people
  • Jason Robins (CEO)
  • Paul Liberman (COO)
  • Matt Kalish (CRO)
ProductsSportsBook, Online Casino, and Daily Fantasy Sports
Number of employees
3,400[2] (2021)
Websitedraftkings.com

DraftKings Inc. is an American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports (the MLB, the NHL, the NFL, the NBA and the PGA), Premier League and UEFA Champions League football, NASCAR auto racing, Canadian Football League, the XFL, mixed martial arts (MMA), Boxing, Tennis, All Elite Wrestling (AEW), and WWE.

DraftKings launched DraftKings Sportsbook in New Jersey.[3] Since launching in New Jersey, DraftKings has opened mobile sports betting operations in Connecticut, Indiana, Pennsylvania, West Virginia and New Hampshire on December 30, 2019 after reaching agreement with the New Hampshire Lottery.[4]

As of April 2016, the majority of U.S. states consider fantasy sports (including daily fantasy sports) a game of skill, rather than gambling.[5] In November 2016, FanDuel and DraftKings, the two largest companies in the daily fantasy sports industry, reached an agreement to merge. However, the merger was terminated in July 2017-- blocked by the Federal Trade Commission to prevent potential monopoly, as the combined company would have controlled 90 percent of the market for daily fantasy sports. As of July 2017, DraftKings had eight million users.[6][7]

DraftKings became a publicly traded company through a reverse merger with SBTech, a Bulgarian technology company, and special-purpose acquisition company Diamond Eagle Acquisition Corp in April 2020.[8]

  1. ^ "The Super Bowl of Startups: Interview with DraftKings CEO Jason Robins". redpoint.com. February 5, 2014. Archived from the original on May 3, 2015. Retrieved July 20, 2015.
  2. ^ "DraftKings: Number of Employees 2019-2021 | DKNG".
  3. ^ "DraftKings launches mobile sports betting in New Jersey". Reuters. August 1, 2018. Retrieved October 30, 2019.
  4. ^ "Sports betting approved in New Hampshire for next year". APnews. November 25, 2019. Retrieved December 17, 2019.
  5. ^ Bonesteel, Matt. "NCAA athletes aren't allowed to play fantasy sports for money, even though it's legal". The Washington Post. September 22, 2015. Retrieved September 29, 2015.
  6. ^ Hobson, Will. "Daily fantasy sites DraftKings, FanDuel reach agreement to merge". The Washington Post. November 18, 2016. Retrieved November 18, 2016.
  7. ^ Tepper, Fitz. "DraftKings and FanDuel will no longer merge". TechCrunch. July 13, 2017. Retrieved August 3, 2017.
  8. ^ "Latest SPAC: Insight into DraftKings' Listing".

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