DraftKings Confirms Working On Real Money Sports Betting Product
The possibility of sports betting being legalized in the U.S. has resulted in a flurry of eager companies looking to cash in on what could be a multi-billion dollar industry. The daily fantasy sports giants like DraftKings have always claimed that their product stands alone on its own merits and has nothing to do with real money sports betting. In this respect they are very much like social casino giants like Playtika who also defend themselves from claims that they are preparing the groundwork if and when real money gambling becomes legal on a federal level.
Many critics have accused them of offering nothing less than another form of real money sports betting or gambling. It now seems that this theory might have some truth as CEO Jason Robins has confirmed in an interview with Recode that DraftKings are building a sports betting product. Robins said that they are in the process of building a sports betting product if and when sports betting is legalized in the US.
Like many others Robins believes that it is always a question of when it’s going to happen and not if and that they will be prepared for this eventuality.
Currently sports betting is only legal in a few states like Nevada but Americans gamble billions on major events like the Super Bowl and mainly through illegal channels.
Responding to critics Robins tried to evade the obvious hypocrisy of them looking into real money gambling and said, ”I guess there’s always some worry there, but they’re two different products. Any company that is going to become big generally has to expand into multiple products and we’ll be no different.” The exact release ate of the product has yet to be determined.