DraftKings Tests Subscription Service in New York

DraftKings Tests New Subscription Service to Boost Odds

DraftKings, a leading sports betting company, is testing a new subscription service called DraftKings Sportsbook+ designed to provide paying customers a boost in odds. The $20 per month subscription service launched quietly on December 28 for select customers in New York and offers participants up to a 100% profit boost on winning parlays.

How it Works

The subscription service provides a boost in odds for winning parlays, with the amount of the boost increasing based on the number of legs in the parlay. For example, a two-leg parlay would receive a 10% boost, a six-leg parlay would receive a 50% boost, and an 11-leg parlay would get the full 100% boost. The maximum bet eligible is $25.

New York Testing Ground

New York offers a strong testing ground for DraftKings as one of the top-performing markets for online gaming. The company could also be looking to help offset taxes in the Empire State, where sports wagering taxes stand at 51%, tied with New Hampshire for the highest rate.

Industry-Wide Impact

DraftKings appears to be the first U.S. operator to launch a subscription service, and the move is likely to be closely watched by others in the industry. Parlays, where bettors are wagering on more than one event at a time, are a profitable and growing area for sportsbooks.

Enhanced Fan Experience

In a statement, DraftKings said the subscription service was designed to offer customers an enhanced fan experience by "creating more excitement and value to our extensive parlay offering." The company did not say how many users have signed up so far, but is offering the first month free, with the subscription kicking in afterwards.

Future Plans

While the subscription is currently only available in New York, DraftKings said it will consider whether to offer the service in other states.

Conclusion

DraftKings’ new subscription service is a bold move in the competitive sports betting market. By offering a boost in odds for winning parlays, the company is looking to attract new customers and retain existing ones. As the industry continues to evolve, it will be interesting to see how other operators respond to this innovative approach.

Frequently Asked Questions

Q: What is DraftKings Sportsbook+?
A: DraftKings Sportsbook+ is a new subscription service that provides paying customers a boost in odds for winning parlays.

Q: How much does the subscription cost?
A: The subscription costs $20 per month.

Q: How does the boost in odds work?
A: The boost in odds increases based on the number of legs in the parlay, with the maximum boost being 100% for an 11-leg parlay.

Q: Is the subscription available in all states?
A: No, the subscription is currently only available in New York, but DraftKings may consider offering it in other states in the future.