Following the “excellent “performance indicators recorded during Q4 2021, Boston-headquartered digital gaming and sports entertainment company DraftKings Inc. is optimistic about its growth in 2022. CEO and co-founder Jason Robins says the company has big plans to grow and reach new markets in the upcoming months.
The Start of 2022 Was “Tremendous”
Robins called the start of 2022 a “tremendous “one with customer acquisition in new US states growing at a fast pace while continuing to pay back in the form of gross profit. The company that fuels sports fans’ competitive spirit with state-of-the-art verticals ranging from digital media daily fantasy to gaming plans to grow its market share in 2022 further. The company also wishes to optimize user experiences while strengthening its suite of multiple products.
Robins took the opportunity to thank all DraftKings employees for their extraordinary effort and contribution that led to Q4’s resounding success in the challenging context of the pandemic. He also recognized that a large number of the Q4 performance indicators were triggered by the migration to their in-house platform for sports betting that allows them to offer more versatile types of bets. The launch of the loyalty program called Dynasty Rewards, together with the company’s adjacent vertical products, also enabled it to keep growing its total addressable market.
DraftKings Marketplace and Media are also expected to generate promising results in the near future. The company also had an excellent business momentum in Q1 2022. DraftKings chose January 8 as the official launch day for its New York mobile sports betting products. The launch was a great success, as it only took DraftKings 24 hours to gather 100,000 first-time paid bettors. As compared to the 17 days for Arizona or 344 days for Indiana, the numbers are undeniably good.
DraftKings customers seem to be more eager than ever to join its platform, and this is clearly visible in the 300,000+ New York users acquired during the first month from the launch in the state, a number that was 2.3 times higher than the average of the company’s other state launches.
The company also has big plans to soon launch in Ontario and join the competing market there while still waiting for its licenses and approvals to receive approval. DraftKings also offers live iGaming in five states, which represent around 11% of the country’s population. They also plan on launching a new feature that would enable all users to go live using audio and video and broadcast their bets in real-time to their viewers.
DraftKings Is Fully Commited to Responsible Gaming in 2022
The company announced a financial commitment that would spread over several years and help fund 35 state-based problem gaming councils working with nonprofit organizations. DraftKings joined the State Council Funding Program and provided each of these state councils with a sponsorship of $15,000 per year for the duration of three years, totaling $1.57 million.
DraftKings also supports the International Center for Responsible Gaming’s research grant fueling a special fund that supports sports wagering research with emphasis on problem gambling. Researchers at Ohio’s Bowling Green State University will be able to thoroughly study the prevalence of problem gamblers together with risks associated with sports betting nationwide.