DraftKings Acquires DraftStreet

rg misc headshots jason robins 1

Today we’ve witnessed one of the most historic days in the history of Daily Fantasy Sports. Hours ago CEO Jason Robins (pictured right) officially announced the acquisition of DraftStreet by DraftKings in the RotoGrinders Forums.

“Today, we are excited to announce that DraftKings has acquired DraftStreet, bringing together the two best products in daily fantasy. For the past several days, we have watched as many speculated, not just about whether the rumors were true but also about the reasons why. Let me be clear on one point – the one and only reason why DraftKings and DraftStreet are teaming up is that we believe we are a better company combined than separate.”

This comes fresh off the announcement of a DraftKings partnership with the WSOP, and demonstrates DraftKings continued drive to thrive in the Daily Fantasy industry. You can read the full DraftKings Acquisition of DraftStreet post in the RotoGrinders Forums.

The transformation process will happen quickly. A landing page is now live on DraftStreet.com that walks users through the steps of transferring their account over to DraftKings. All funds are 100% secure. Here is a video from the CEO’s of both companies:

Click To Watch Video

Many of the questions have been about user funds. DraftKings will be offering any new DK players a 100% deposit bonus on transferred funds, and we will also be offering that bonus again when you make a first deposit on DK. Players already playing on DK will be offered a 25% bonus on transferred funds if they have a DraftStreet account. If they don’t have a DraftStreet account, the user can still access make the 25% bonus available to themselves whenever they make their next deposit. If you are a DraftStreet or DraftKings user with any questions, DraftKings urges you to direct your questions to their Support Email.

Cameron of RotoGrinders recently spoke with DraftStreeet Co-Founder Mark “Markness” Nerenberg (pictured right) about the acquisition. Mark told us:

“It’s been an emotional past few weeks. It’s hard to let go of DraftStreet after everything we’ve all been through. The memories will last forever. That being said, working with the DraftKings team the past week or two has been encouraging. They have been pulling away in terms of overall product, but we feel it’s a perfect fit where their strengths are our weaknesses and vice versa. We’re very excited to see what we can do together.”

You can also read a statement by Mark on the Official DraftKings Acquiring DraftStreet Announcement post.

The other types of questions pouring in tend to revolve around Frequent Player Points valuation and transfer. Mark posted on RotoGrinders that “Street Creds will be converted to FPP’s at the best possible rate to customers, and we’ve applied the Street Cred reward to each customer, pro-rated for half a month.” – As for any taxation confusion, players will receive both a 1099 from DraftStreet (Skyllzone) and from DraftKings. A full FAQ was created on DraftKings’ website that answers many other user questions surrounding the merger.

While some players seem sad to see the DraftStreet brand go, others are just thankful for their time on the site. Ryan “BirdWings” Lynde personally posted that he’d “like to thank Mark and DraftStreet for everything they’ve done for the industry and having the sharpest and most dynamic game around. I haven’t had much of a bad word to say about DS in the three years I’ve played there. It’s truly been a pleasure doing business with them daily.”

The exact day-to-day logistics of DraftKings acquiring DraftStreet are still unclear, but we’re being told that the entire DraftStreet team will remain intact and will be working with the DraftKings team in the coming months. The aim is that the two teams can combine to produce the best possible Daily Fantasy Experience. DraftStreet’s current office will remain in New York City, while DraftKings is headquartered in Boston.

About the Author

  • Cameron (Cameron)

  • Cameron MacMillan is the Co-Founder of RotoGrinders.com, and a die-hard Florida Gators fan.

Comments

  • tskeet16

    I am very saddened to hear this news. Draftstreet was my primary DFS site; I loved their unique scoring and contests. I have tried Draftkings a few times and was not impressed. At least for baseball, I think having to fill that extra pitching and utility spot added an extra dimension to the site. Maybe the DS team will work with DK to alter their scoring but I’m not holding my breath. I guess its time to find a new site

  • jmsclinton

    I’m sad to see draftstreet go. I started playing casually but got serious when I saw the same players have success to the point of turning DFS into “a living”. I finally got the hang of this and believed I found my strength in h2h pick’ems. Now it seems that draftkings will not offer pick’em leagues which is the number one reason why I played on draftstreet more than any other DFS site. Hopefully draftkings will add pick’ems to their site.

  • Bharrell23

    I really enjoyed the DS pickems. Hoping this becomes a part of DK.

  • searchmonkey

    Any idea about referrals. I make a decent amount of coin each month, what happens to that? I have a whalish guy. IF I lose him on referrals I’m not playing on DK.

  • cullycat

    One question is whether DK will bend to offer 11 for 9 pricing on larger games or will they risk alienating the DS faithful by sticking with 10 for 8…..

  • Putz

    Agree. Hurry with the Pick’em style games!

  • johndamron32

    draftkings gives you everything a fantasy player could possibly want

  • moneys72

    Very disappointed to hear this, loved DS unique pick’ems & their smaller GPPs. Haven’t enjoyed DK at all the few times I’ve played there.

  • deactivated23444

    Man that is too bad I really liked DS and really hate DK they are like you died and got caught on a porn site circa 2001 with all the pop ups and ads your subjected to. Pretty obvious why DK wanted DS, DK is pretty much trash and this is only gonna make FanDuel bigger and stronger and give FanThrowdown along with DraftDay the shot in the arm they have needed. RIP Draftstreet.

  • jamesallen71

    Good news for FD at least. Bad news for those of us who like the DS interface, formats and scoring. Those of us loyal to DS and who have mastered it’s style have now been thrown to the sharks. Why would we deposit on a site that we selected to avoid? The savvy business move would be to operate both sites as is, despite the acquisition. There is no way the redundant costs that might be saved by merging the sites will outweigh the dollars lost by DS patrons that will not use DK. We understand the business side of acquiring a competitor, but you are losing an amazing opportunity DK to own TWO thriving brands and keep everyone happy.

  • CeeGee

    • Ranked #61

      RG Tiered Ranking

    quote @jamesallen71
    Good news for FD at least. Bad news for those of us who like the DS interface, formats and scoring. Those of us loyal to DS and who have mastered it’s style have now been thrown to the sharks. Why would we deposit on a site that we selected to avoid? The savvy business move would be to operate both sites as is, despite the acquisition. There is no way the redundant costs that might be saved by merging the sites will outweigh the dollars lost by DS patrons that will not use DK. We understand the business side of acquiring a competitor, but you are losing an amazing opportunity DK to own TWO thriving brands and keep everyone happy.

    ^^^ I agree with this statement… Why force people to move to the Draft Kings website? Why not just operating both sites independently?

  • madmanjayWV

    I really do not see how you guys think this is GOOD NEWS for FanDuel?
    I sure don’t think it is. Time will tell.
    I still miss playing NBA on BUZZFEED….but you’ll get over it or just quit DFS all together I suppose.

  • searchmonkey

    I was told my referral fees are gone b/c my guy made an account with DK a year ago and never plays but has dropped $150K+ on DS yearly. Thats $800 month I have made for over 3 years.

    Good way to get my business guys. FD, you ugly fool, I guess I have to go to you. Ugh.

  • lakeshow24

    ya this def is a bullshit there is a reason i never joined a diff site cuz i loved draftstreet the way it was i really hope they give us some of the stuff that we all liked about DS

  • CeeGee

    • Ranked #61

      RG Tiered Ranking

    @searchmonkey – why can’t he just make a new account?

  • Cameron

    RG Co-Founder

    • 2014 FanDuel NFL Survivor Champion

    • 2016 RG Season Long Champion: NFL

    ^ Because that is against all sites’ terms & policies. It’s subject for all involved users to be banned from those sites, and arguably unethical.

  • 2incher

    It’s such a shame what money has done to this industry. Anyone with half a brain KNOWS how far superior a product DS was. Just look at their fucking salaries and you will laugh at how pathetic DK is in comparison. Not to mention payout structure, rake, game-play (especially with golf), and guess what? All PGA fantasy players now have almost nowhere to go to play the game correctly. DS was the only site that got it completely right. I strongly urge DK to adapt some of DS’s attributes.

    What an absolute travesty that the people at DK were the ones able to swoon investors. Just an awful product they throw at you.

    I think this sparks doom for the industry as a whole when the only sites with big money (DK and FD) are by far the worst products out there and have the most watered down game-play. DS was the last big site that actually cared what their product was and didn’t just try to raise a bunch of money to shove ads down our throat. Have fun catering to the morons of the world who will play for a couple weeks, because those are the only people who can find your products somewhat exciting. Try some intuition once in a while, try to have a product that’s worth a damn. I dare you.

  • searchmonkey

    2Incher, it will likely get better if one of he bigger sports media companies gets involved. I agree on DS, it was by far the best and this really tempers my enthusiasm for the NFL now.

    Its really disappointing. The salaries at DS were so sharp.

  • katho54

    I have to add my BOOOOO to the chorus…Draftstreet was my favorite site and DraftKings my least favorite…guess im going back to Fanduel

  • iconfantasyJoe

    im not sure why everyone acts as if its a given that the big market sites will help the players and lower rake. Have you guys seen what CBS rakes for their terrible seasonal fantasy football games?

    As far as the guy losing his referall, im not sure what they are supposed to do. Is your referral also a referral for you at DK, or did he make his acct there without being signed up to the site by you?

  • IvanCalderon

    I will miss Draftstreet dearly. Their customer service (Max Stern particulary), salaries, and roster sizes were top notch for NHL/MLB/NFL/NBA. I personally dislike Fanduel – I loved Snake drafts and smaller GPPs. I am giving a week tryout to both DF and Fantasy Feud and if they both suck like FanDuel I am out. Such a shame.

  • IvanCalderon

    Oh – and one more thing, New York selling out to Boston? George Steinbrenner would have never let that happen! Just went to DK – not even a lobby to chat and antagonize the fish

  • dtxd2

    I had been gearing up for the British Open Big Score tournament on Draftstreet and had won several vouchers. What’s going to happen to that now?

  • Dpert002

    This sucks! Draftstreet was the only site I played daily. I have other accounts but never got into the other sites. I loved the way draftstreet ran, the website setup, and the scoring/play.

    I would like to thank draftstreet and wish them luck. I am very saddened by this news.

  • pittsburghkid

    Not to just throw a log on the fire here but I was loyal to draftstreet and there scoring system for 5 years now. This is extremely Shady and I’m completely disgusted with how this was handled, selling out and not telling anyone until the website was signed, sealed, and delivered. Draftkings is wack. there payout structure is desined to keep your money there.

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