In May, the Supreme Court struck down a federal law that had banned gambling on sporting events in most states. That ruling is set to unlock billions of dollars in new business opportunities for online fantasy sports sites like DraftKings.
DraftKings launched back in 2012 and quickly grew into a household name by offering daily and weekly fantasy sports contests across a number of sports.
In fact, as of 2017, DraftKings had roughly 8 million users, and together with its top competitor FanDuel, the two companies owned more than 90 percent of the $2.6 billion daily fantasy sports market.
In 2016, DraftKings and FanDuel announced their intention to merge, but were met with resistance from the FTC who sued to block the merger. If it had been approved, the merger would have allowed both companies to combine resources with regards to regulatory approval and advertising spend.
At the time, Robins said that DraftKings has a “growing customer base of nearly 8 million, our revenue is growing over 30% year-over-year, and we are only just beginning to take our product overseas to the billions of international sports fans we have yet to even reach.”
At Disrupt, we’ll chat with Robins about the growth of the company, DraftKing’s plans for the 2018 NFL season, and what’s in store for the company following the Supreme Court ruling.