DraftKings and FanDuel Enter Colorado With Twin River Partnerships

DraftKings Backwards HatOn Monday, Twin River Worldwide Holdings announced separate market access partnerships with daily fantasy sports heavyweights DraftKings and FanDuel, giving sports fans in Colorado access to award-winning sportsbook products. Under the deals, both operators will receive the required permissions to operate mobile and online sportsbooks in the Centennial State.

Twin River Worldwide Holdings owns several casinos nationwide. Aside from Colorado, they manage properties throughout Rhode Island, Mississippi, and Delaware. In Colorado alone, Twin River operates three casinos and a horse racetrack.

These partnerships combine Twin River Worldwide Holdings’ nationwide experience in gaming and casino operations with market-leading sports betting expertise and globally recognizable brands.

The company recently purchased Golden Gates, Golden Gulch, and Mardi Gras. Each property comes with the ability to obtain three sports betting licenses. CEO George Papanier made the following statement regarding the acquisition:

“Completing the acquisition of Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado last week included the right to three sports gaming licenses in Colorado and will really allow us to expand our footprint here well beyond our Arapahoe Park racetrack and off-track betting network.”

FanDuel Partnership

In the past, FanDuel Sportsbook has been available in Indiana, New Jersey, Pennsylvania, and West Virginia. Colorado is now the fifth state in which FanDuel will offer its services to gamblers. Their CEO, Matt King, also had something to share:

“Twin River has been engaged in sports betting since the beginning in Rhode Island and Mississippi, and they are an ideal partner as we continue to enter states that open up online and mobile sports betting.

Colorado has a sensible framework for sports betting, and we are excited to partner with a renowned gaming company like Twin River to bring our market-leading online sports betting experience to Colorado sports fans.”

Sports bettors will soon have access to a variety of online wagering options, including point spreads, moneylines, over/under, parlays, teasers, prop bets, round robins, and a long list of live bets. The FanDuel Sportsbook app will only make betting easier for Colorado residents.

DraftKings Partnership

Colorado is the sixth state to offer the DraftKings’ Sportsbook platform. They previously offered their services in the following states: New Jersey, Pennsylvania, Indiana, New Hampshire, and West Virginia.

“Coast to coast, DraftKings is committed to providing states across the country with the ultimate experience in legal sports betting,” said Ezra Kucharz, DraftKings’ Chief Business Officer.

Twin River holds a mutual pledge to providing exciting, real-time gaming opportunities, and we look forward to working alongside them to introduce Colorado sports fans to our award-winning product.”

As well as mobile and online sportsbook access, the partnership will also allow Colorado sports fans to place sports bets via a retail betting operation at Mardi Gras Casino in Black Hawk, CO. Colorado will become the fifth state where DraftKings operates a retail location, joining Iowa, Mississippi, New Jersey, and New York, subject to adoption of applicable regulations and both parties securing necessary gaming licenses.

DraftKings is Going Public – Is it a Smart Decision?

DraftKings is one of the country’s biggest daily fantasy sports and sports gambling operators. Over the past few years, this company has gone through several major changes. This week, news reports began claiming that DraftKings is going public.DraftKings Logo

It’s surprising news. DraftKings is hugely popular, yet it’s struggled to turn a profit over the years. Today, we’re going to talk about whether or not the decision to go public is a good one.

Let’s get into it!

History of DraftKings

In the 2000s, several sports fans began to realize that daily fantasy sports could be offered throughout the US. Unlike sports betting, which is considered a game of chance, daily fantasy sports is technically a game of skill. That made it legal in almost every state, despite it acting as a form of sports wagering.

In 2009, FanDuel launched. In 2012, DraftKings officially began operating, as well. That same year, DraftKings company received millions of dollars in outside funding.

Over the next few years, DraftKings began to expand around the country. In 2013, it paid more than $50 million in winnings to players. It also claimed to have 50,000 active users.

By 2015, the company was valued at $250 million. Unfortunately, DraftKings began facing legal trouble in several states. New York famously banned the DFS operator, claiming that it violated the state’s constitution.

After PASPA was struck down in 2018, DraftKings began breaking into the traditional sports betting industry. Today, this company is offering sports betting odds in several states.

This week, news came out that DraftKings is going public. It’s a major gamble for the company. Will it pay off?

Here’s Why DraftKings is Going Public

The US sports betting industry has never been stronger. This is all thanks to PASPA being removed. Now, every state in the country has the ability to set its own laws on sports betting. 21 states have already legalized this popular form of gambling.

The US now has the hottest new sports betting market in the world. As a result, a huge number of companies are working to offer sports gambling options in different states. DraftKings is one of these companies.

In order for a company to break into this industry, it needs considerable funding. This is a major reason why DraftKings is going public. The company plans to merge with two different companies. Afterward, the combined companies are expected to have a market value of $3.3 billion.

DraftKings claims it will have more than $500 in unrestricted cash.

Jason Robbins, co-founder and CEO of DraftKings, will lead the merged companies. He commented on his plans to the media this week.

“The goal is really to be the only company in the world that is focused primarily on the U.S. market,” Mr. Robins said. 

Going Public is a Major Gamble For DraftKings

Anytime a company goes public, it’s a gamble. DraftKings is taking a slightly different approach than most do. Instead of an IPO, DraftKings is going public through its merger with a special purpose acquisition company.

Jason Robbins also spoke with Yahoo Finance about this decision.

“We had three objectives we were trying to solve for. First was, we wanted to complete the purchase of SB Tech, which required some cash,” he said. “Second is that we wanted to raise additional capital to pursue state launches for all these new states that are legalizing online sports betting. And third, we wanted to get public. And this allowed us to do all three in the same transaction. We’re going public at a time when the sports betting industry in the U.S. is hopefully at the very early stages of taking off, so it gives public investors a real opportunity to ride that growth.” 

That certainly makes sense. The only problem is that DraftKings has struggled to earn a profit over the years. Tough regulations on a state level have made things very difficult for the company.

If more states choose to legalize this industry, the decision will certainly pay off. Robbins believes this will be the case. If, somehow the government changes its stance, then going public may ultimately prove to be the wrong decision.

DraftKings is going public in early 2020. We’ll need to wait and see just how smart this decision is in the long-run.

Stay tuned for more US gambling news over the next few weeks!

DraftKings Is Now the Official DFS Partner of the NFL

One of the largest daily fantasy sports companies in the world just secured a major new deal. DraftKings is now the official DFS partner of the NFL. It’s huge news for this company, which has also begun breaking into the newly emerging US sports betting market, as well.DraftKings Logo

It looks like the NFL is beginning to embrace the sports wagering industry. Today, we’re going to look at exactly what this new partnership means. We’ll also talk about some of the NFL betting odds available online right now.

The Rise of DFS and Sports Betting in the United States

A little more than a year ago, Nevada was the only state that was able to offer sports gambling odds. In May of 2018, this changed. The Supreme Court struck down PASPA, giving every state in the country the ability to set its own laws on the sports gambling industry. 19 states have now legalized sports gambling.

Prior to PASPA being struck down, many individuals in the country chose to partake in daily fantasy sports. DFS is similar in ways to sports betting. It allows players to choose a “fantasy lineup” of athletes that are set to compete on a particular day. The better your lineup team performs, the more points you earn and the more money you can win.

Several DFS companies now operate in the US. They’re able to do so because daily fantasy sports is considered a “game of skill.” DraftKings is the biggest and most popular DFS operator in the country, with millions of active users.

Recently, DraftKings has begun breaking into the traditional sports betting market. Many states now allow online sports wagering. That doesn’t mean the company is putting it’s daily fantasy sports services behind, though.

This week, DraftKings secured a major deal with the top sports league in the United States.

DraftKings is Now the Official DFS Partner of the NFL

The NFL remains the biggest and most-watched sports league in the United States. Just a few weeks ago, the 2019/2020 NFL season officially kicked off. Now, DraftKings has secured a deal with the NFL as the league’s new DFS partner.

With this deal comes “exclusive sponsorship of the daily fantasy sports category with access to NFL branding and more” across DraftKings’ platforms. Jason Robins, CEO of DraftKings, commented on the news to the media this week.

“This is a defining moment in the industry, and we are thrilled to become the first daily fantasy sports partner to enter into a formal relationship with the NFL,” he said. “Throughout our discussions with the League, it was evident we share a common vision around the future of fan engagement, and we are excited to continue on this unique journey with the NFL as our official daily fantasy partner.”

Daily fantasy sports fans around the country will now have access to unique NFL content through DraftKings. Of course, many individuals still prefer to make traditional sports wagers on their favorite football teams. There are many amazing US sports betting sites that are offering odds on every single game of the season.

Top Week 4 NFL Betting Odds Available Online

Online sports betting in the US is easier now than ever before. There are many amazing online sportsbooks that are available in every single state. Today, we’re going to look at some of the best week 4 NFL odds available through Bovada.

One game that’s drawing the attention of sports betting fans this week is between the New England Patriots and the Buffalo Bills. Both these teams have looked great thus far in the 2019/2020 season. They’re both 3-0 and will finally face off in one of the most exciting AFC matches this week.

It’s not much of a surprise to see the Patriots entering as the significant betting favorites with odds of -360. New England remains a serious Super Bowl contender and, on paper, should get the win here. The Bills are live underdogs and with odds of +280, could earn you some serious money with a win this Sunday.

One of the most lopsided matchups this week takes place between the LA Chargers and the Miami Dolphins. LA is the massive betting favorite with Bovada odds of -1200. Miami has disappointed for most of this season and enters this game with odds of just +700 to win.

DraftKings is now the official DFS partner of the NFL. Feel free to check this site out today to see the exciting new NFL branding that’s available. Stay tuned for more NFL betting news over the next few months!