DraftKings has several innovations for the 2024 NFL season to help the company compete with FanDuel

Yesterday, the Kansas City Chiefs won 27-20 vs. the Baltimore Ravens in the first game of the 2024 season. It was a hard-fought game for the Ravens. With the NFL back in full swing, sportsbooks around the United States are eager to set themselves up for success. DraftKings CEO Jason Robbins spoke at the Bank of America 2024 Gaming and Lodging Conference on Thursday. Robbins noted that he sees an opportunity to cut into FanDuel’s 51% net gaming revenue edge heading into the 2024 season. Along with slightly lagging behind the NFL, DraftKings is also behind FanDuel regarding NBA revenue. Jason Robbins noted that DraftKings has made corrections to their market to compete with FanDuel. DraftKings knows what they need to do to be successful in the market. It’s a matter of executing that plan and offering a superior betting product to their customers. Robbins had this to say at the Bank of America 2024 Gaming and Lodging Conference.

“I’ll probably eat my words saying this, but we feel almost a virtual certainty that we can achieve that because we have a clear line of sight and we know looking at FanDuel what they’ve been able to get to,” – said Robbins

What steps does DraftKings need to take to compete with FanDuel in the NFL?

Live betting is a major focus for DraftKings and they’ve launched a new betting product this fall. DraftKings is introducing Betvision, a low-latency NFL feed. Pairing that with the company’s improved interface on the app allows customers to have a smooth and seamless betting experience. Jason Robbins is confident that Betvision is going to have a serious impact on their success throughout the 2024 NFL season. Additionally, DraftKings recently acquired Simplebet. This is a micro-betting supplier that is partnered with several sportsbooks. The deal allowed DraftKings to improve their micro-betting markets but also cut costs. 

DraftKings CEO Jason Robbins also mentioned how there is so much potential for the company to grow in the live betting market. Data from European markets found that 70% to 80% of their wagering comes from in-game bets. Those are mostly from soccer bets. However, U.S. bettors are live betting 40% to 50% of the time. Robbins believes the 2024 NFL season will have more opportunities for customers to live bet rather than a soccer game in Europe.