DraftKings: Live Betting Improvements Key to Market Share Gain
Date: 2024-09-06 Author: Alex Crawford Categories: SPORTS BETTING
DraftKings CEO Jason Robbins shared the company’s plans for the upcoming NFL season, expressing confidence in the company’s ability to catch up to competitors like FanDuel and gain some of their market share.
DraftKings Aims to Challenge FanDuel
DraftKings and FanDuel have dominated the U.S. betting market for years, constantly vying for leadership in an increasingly competitive environment. Despite this, DraftKings remains confident in continuing to grow its market share, especially with the opportunity that the NFL season presents.
Robbins spoke at the Bank of America 2024 Gaming and Lodging Conference, where he said his company is ready to take on FanDuel. According to him, the team has a clear idea of how they can increase their market share by 100-200 basis points or more.
The CEO also noted that the DraftKings online sportsbook is now in the best shape to compete in the NBA betting market, despite lagging behind competitors in the past. The company is hoping for a successful NBA betting season by attracting customers with improved products during the NFL season.
“We have a clear idea of what we need to do. Now we just need to put all our efforts into the most important time of the year,” Robbins said.
Improving Live Betting Products
One of DraftKings’ main strategies for increasing its market share is to develop live betting. The company recently introduced a new product, Betvision, which features low latency and an improved betting interface.
Live betting is becoming a central focus for DraftKings given its huge potential. Robbins noted that up to 80% of betting volume in Europe is in real-time betting, while in the US this category is not yet as popular, but has potential in some sports.
The company is aiming to take its live betting product to the next level to significantly outpace its competitors. “We see an opportunity to not only improve the product, but also to market it more aggressively and offer better value to customers. This is something we haven’t been focusing on in the past,” Robbins added.
Additional Improvements
In addition, DraftKings plans to improve its parlay products and offer new parlay packages in real time to provide a smoother and more convenient user experience. The company also intends to make significant changes to the technical infrastructure so that customers no longer experience app freezes and long loading times.
All of these efforts are aimed at making DraftKings a leader in the betting market and attracting more customers during the NFL and NBA seasons.
