DraftKings is one in all seven on-line sportsbooks anticipated to start operations in Massachusetts on the primary day that gaming regulators within the commonwealth allow such wagering over the web. For the Boston-based sportsbook, iGaming, and fantasy sports activities firm, it’s a improvement that’s greater than a decade within the making.
DraftKings co-founders Paul Liberman (left), Jason Robins (center), and Matt Kalish are pictured in 2012. Based and nonetheless headquartered in Boston, DraftKings is able to debut its sportsbook on-line in Massachusetts on March 10, 2023. (Picture: DraftKings)
DraftKings was based in Boston as a day by day fantasy sports activities (DFS) platform in 2012. The corporate’s first product was a one-on-one baseball contest.
DraftKings and rival FanDuel started attracting curiosity from funding companies within the speedy years following their founding. The investments fueled a advertising blitz, with many sports activities followers expressing complaints concerning the DFS platforms’ incessant promoting throughout tv industrial breaks.
The Federal Commerce Fee blocked a proposed merger between DraftKings and FanDuel in July 2017. After the US Supreme Court docket in Could 2018 struck down the federal ban on single-game sports activities betting that had restricted sports activities playing to Nevada, DraftKings transitioned its focus from DFS to sports activities betting.
Although the corporate continues to function fantasy sports activities, its market capitalization has surged over the previous 5 years due to the liberalization of sports activities betting. At this time, sports activities betting is authorized in additional than 30 states, with one being Massachusetts.
Sports activities betting started within the commonwealth on Jan. 31, 2023, however solely on the state’s three on line casino sportsbooks.
DraftKings’ Dwelling Recreation
Although sports activities betting in Massachusetts started on the ultimate day in January, DraftKings wasn’t one of many three retail books working that day.
These books had been reserved for the state’s three industrial casinos — Encore Boston Harbor, MGM Springfield, and Plainridge Park. The casinos’ respective sportsbook companions, which may function in-person and on-line sports activities wagering, are WynnBet, BetMGM, and Barstool.
Massachusetts’ sports activities betting regulation additionally permits for totally on-line sportsbooks that aren’t tethered to brick-and-mortar casinos. DraftKings is one such licensee after being deemed appropriate for a Class 3 sports activities wagering allow by the Massachusetts Gaming Fee in January.
The MGC is now readying to permit on-line sportsbooks to start taking wagers this Friday, March 10.
It was simply over 10 years in the past once we launched DraftKings from a spare bed room in Watertown, and now, we’re proud to have the chance to ship a secure and authorized sports activities betting product to thousands and thousands of diehard sports activities followers throughout Massachusetts,” Jason Robins, co-founder of DraftKings, advised On line casino.org. “This launch will mark a serious milestone for our firm and we’re proud to change into the hometown sportsbook for purchasers within the commonwealth.”
DraftKings has advertising relationships with the NFL’s New England Patriots, which play close to Plainridge Park at Gillette Stadium in Foxboro, and with the NBA’s Boston Celtics and NHL’s Boston Bruins. The Celtics and Bruins play their house video games on the TD Backyard.
FanDuel, Different Competitors
DraftKings received’t be the one on-line sportsbook debuting its operations on Friday. The MGC has deemed six different sportsbook platforms appropriate for on-line wagering.
Together with DraftKings and the three casinos’ on-line sportsbook companions — WynnBet, BetMGM, and Barstool –, the MGC has permitted Caesars Sportsbook, FanDuel, and Betr for on-line sports activities betting.
The MGC is predicted to formally difficulty the seven on-line sportsbook licenses on Wednesday.
