DraftKings CEO: Most Super Bowl Bets Were Illegal

DraftKings' CEO, Jason Robins, has revealed that most wagers were made illegally in the United States despite Super Bowl LVI betting breaking records. Legalized sports wagering is currently available in 30 states. Nonetheless, Robins added that the three most populous US states – California, Texas, and Florida – with approximately 90 million people combined, do not permit legal sports gambling. Robins asserts that around 30 million individuals are regularly betting illegally throughout the country.

Robins believes that mega-events like the Super Bowl are ideal for driving engagement and attracting new clients. According to the Nevada Gaming Control Board, the country's handle for the Super Bowl was at $179 million, up from $136.1 million in 2021. The total in New Jersey exceeded $140 million. Mississippi had a handle of $6.4 million, whereas Montana had about $700,000. Over the Super Bowl weekend, GeoComply reported that 80.1 million US betting transactions transpired.

As per the American Gaming Association (AGA), over 31 million people in the United States wagered on the Super Bowl this year. DraftKings is still competing for market share in the United States. DraftKings released its fourth-quarter numbers, revealing more than double the previous year's sales but suffering a net loss of $1.52 billion. DraftKings had a somewhat successful 2021, but the firm anticipates that its loss per share will rise by 15%. DraftKings expects to earn between $1.85 billion and $2 billion in revenue this year. DraftKings invested more than $10 million in incentives and free bets for gamblers who solely used the DraftKings app to wager on the Super Bowl.