Faced with mounting losses that caused investors to sell off on Friday (February 18th), daily fantasy sports betting (DFS) platform DraftKings is betting hard on iGaming as it moves more aggressively into new game types and territories. North Americans this year.
In releasing fourth quarter and full year 2021 financials on Friday, Feb. 18, the Boston-based entertainment and sports gaming brand is focused on acquiring, retaining and growing average spend as more and more states are legalizing online betting.
Claiming that DraftKings mobile iGaming is now available in regions “representing approximately 11% of the U.S. population”, the company reported that monthly single payers (MUPs) increased 32% from Q4 2020, with an average revenue per MUP (ARPMUP) up 20% to $77 in the same period.
Pushing some details to DraftKings’ upcoming Investor Day on March 3, CEO Jason Robins told analysts that iGaming’s gross revenue was up 153% year-over-year and 61% based on of the same state. DraftKings averaged 2 million monthly active payers through the fourth quarter. This is on a growth trajectory as more state legislatures have approved or are considering allowing mobile sports betting.
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Robins said: “We continued to see the momentum. Following our launches in New York and Louisiana in January, DraftKings offers online sports betting in 17 states that collectively represent approximately 36% of the US population.
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On the connected economy front, Robins told analysts that “our technology delivers a seamless customer experience through a single integrated portfolio across product offerings and jurisdictions. We are already seeing this play out in the North East. , where customers traveling between New York, Connecticut, New Hampshire, New Jersey and Pennsylvania can play on the DraftKings app without having to open a new account.
In the fourth quarter, the company also introduced DraftKings Social, a platform that allows fans to interact on the company’s Sportsbook and DFS apps.
“We are launching several additional social integration points in our Sportsbook and DFS products during the first part of the year,” Robins said. “We are also developing additional features, such as betting groups, which allow friends to bet in private groups where everyone can see each other’s bets and chat, and chat features for DFS and our live casino games.”
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