DraftKings CEO lifts lid on product roadmap amid “slower grind” Ontario push
Jason Robins suggests sportsbook could achieve 10%-20% market share in Canadian province but affirms confidence in NFL new season strategy
DraftKings co-founder, CEO and chairman Jason Robins has outlined a push by the US sportsbook heavyweight to further develop its same-game parlay betting product as competition in the sports betting vertical intensifies.
Speaking as part of the Boston-headquartered firm’s Q2 2022 financial results, Robins confirmed the launch of new merchandising zones in the sportsbook app geared around same-game parlay markets, suggesting more was on the development radar.
“I think that first step for us is to build the product and then obviously, as we continue to enhance that product, add more markets, bring more in-house, we also are focusing on how we market it and merchandise it in the app better,” Robins told investors.
“Really, for us, it’s about having it feel native, not feeling like we’re pushing something on the customer.
“We use fun names that are in line with the sorts of things that we would name our daily fantasy contest, that sports fans we think would find enjoyable and at times humourous and just try to give them some personality and then really, it’s all database.
Robins continued: “We test things to see what works. We’re working on updating our data science engine so that those things become fully personalised. They’re not yet, but we’re working on that.
“There’s a lot of behind the scenes work too that really optimises getting the right thing in front of the right customer at the right time,” he added.
In its Q2 report DraftKings noted a 57% year on year (YoY) revenue increase to $466m, punctuated by a 29% decrease in its net losses, which reduced to $217m over the same period.
Adjusted EBITDA losses, however, continued to deepen, rising 24% YoY from $95m in Q2 2021 to $118m in the same period of 2022.