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NFL season kicks off sports betting surge for DraftKings

FILE PHOTO: People wait in line to place bets after Super Bowl XLVIII proposition bets were posted at the Las Vegas Hotel & Casino Superbook in Las Vegas, Nevada January 23, 2014. REUTERS/Las Vegas Sun/Steve Marcus/File Photo It took DraftKings, which operates mainly as a fantasy sports company, 38 days to reach one million sports bets since launching its online sportsbook in New Jersey on August 1, company co-founder and Chief Revenue Officer Matthew Kalish told Reuters in a telephone interview on Tuesday. During Sunday’s season-opening games more than 100,000 bets were placed through the sportsbook. “It was a massive spike from what we were seeing in August,” Kalish said. “We absolutely hit our expectations.” Over the weekend, 51 percent of DraftKings sportsbetting customers placed bets versus roughly 35 percent for most days in August. About 90 percent of DraftKings wagerers have returned to bet again, Kalish said. The bump in volume and high retention rate signals a strong professional football season ahead for DraftKings’ sports betting, Kalish said. “It shows a lot of positivity going into the NFL season,” he added. New Jersey is one of a handful of states that have rolled out full-scale sports betting programs since a U.S. Supreme Court decision on May 14 lifted a federal ban on sports wagering.

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