INDUSTRY FORUM

Comments

  • DraftKings_CM

    • DraftKings Representative

    Today we begin a new era with official launch of DraftKings Sportsbook In New Jersey.

    We are very proud to announce the launch of DraftKings Sportsbook, becoming the first company to offer legal online and mobile sports betting in New Jersey. As the world’s largest daily fantasy sports platform, DraftKings leveraged its best-in-class technology, advantageous positioning and extensive knowledge across sports to bring their Sportsbook product to market.

    “I am excited to begin this new chapter in our story by officially launching what I believe to be the most innovative, mobile sports betting product in the U.S.,” said Jason Robins, CEO and co-founder of DraftKings. “We have put immense thought and significant resources behind the development of DraftKings Sportsbook and I’m confident that sports fans in New Jersey will enjoy using it to make the experience of watching the games even more interesting and thrilling.”

    The launch of DraftKings Sportsbook is the culmination of almost a year of intense preparation, with countless engineering, design, research and development resources all geared towards creating the best and most enjoyable mobile sports betting product for U.S. consumers. Through its unrivaled insight into the habits and preferences of American sports fans, DraftKings has tailored its Sportsbook app and online platform to offer sports fans in New Jersey the ability to place multiple types of bets, including live in-game bets, on major and niche U.S. and international sports. Moreover, DraftKings Sportsbook app and website allows consumers to seamlessly toggle between DraftKings’ Fantasy Sports and Sportsbook platforms, allowing consumers to place their bet and then draft their lineup with one click. Through its partnership with Resorts Casino Hotel in Atlantic City, N.J., announced earlier this year, DraftKings can now offer sports fans in the Garden State the opportunity to place bets.

    DraftKings’ introduction of legal online and mobile sports betting begins in New Jersey, but the company is prepared to act in response to future legislative decisions in other states across the country. Earlier this year, DraftKings announced it entered into an agreement to provide a physical sportsbook at the del Lago Resort & Casino located in Waterloo, N.Y which enables both partners to create a mobile and online sports wagering option in the Empire State should legislation authorize online sports wagering.

    Sports fans in New Jersey can now place their bets on the DraftKings Sportsbook app via iOS and Android or online at: http://sportsbook.draftkings.com

    DraftKings Sportsbook is 21+. NJ only. Eligibility restrictions apply. See website for details.
    If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.

  • deleted1017

    For the live cashout feature…Does it apply to futures bets? Like if I bet on 5 golfers to win the PGA this weekend, will they offer live cash outs for them?

  • precator

    so you only have to be in jersey to place the bet? you can live in another state correct? Will the app allow that?

  • ChaosM83

    • 589

      RG Overall Ranking

    I’m hoping the geolocation is a work in progress. It keeps checking the location way often, can take way to long, and needs to be more accurate. It is very annoying when trying to place a live bet, to have it pop up, usually only takes 5-10 seconds, but in that time a contest can be suspended or odds can change. Then there are other times when it tells me it needs to confirm my location, and it just never can confirm, I have to restart the app, and log in again, and then it can confirm my location quickly. All of these can be very annoying. And then over the weekend I was about 5 miles from the boarder, and kept being told that I wasn’t allowed to place a bet from my current location. If my GPS app can get my location down to a handful of feet, you should be able to get better than 5 miles.

    So far that is my biggest issue, so hopefully like I said it is a work in progress. Because otherwise I love the app and love the service!

  • noddy

    How are the lines and vig?

  • emnj69

    if you have funds in dk can they be transferred to sportsbook dk? or linked?

  • db730

    RotoGrinders Media Director

    • 777

      RG Overall Ranking

    • 2016 DraftKings FFWC Finalist

    • 2016 DraftKings FBBWC Finalist

    I did an interview w/ Co-Founder Matt Kalish about the sportsbook this morning. You can find that here for some of those questions and more.
    https://rotogrinders.com/videos/draftkings-sportsbook-matt-kalish-interview-2609546

  • Pats7914

    • 74

      RG Overall Ranking

    • Ranked #98

      RG Tiered Ranking

    Sportsbetting obviously has a lot of promise as an industry and DK looks like it might play a critical role in shaping the future of the legal industry. So what I say below comes from a place of love.

    If the vig is anything close to what we have seen on the early look at DK or on FanDuel, then it will only be patronized by drooling idiots and the whole industry deserves to fail massively as a legal enterprise.

    Lets have half reasonable lines please. If DK has 30 cent lines, just keep playing offshore. Pretty easy in most states with a bitcoin account.

  • noddy

    He said in the interview they adjusted their lines after the first day and now they are competitive. For anyone in NJ is that true?

  • tomac

    https://www-thelines-com.cdn.ampproject.org/v/s/www.thelines.com/draftkings-vig-betting-lines/amp/?amp_js_v=0.1#amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.thelines.com%2Fdraftkings-vig-betting-lines%2F

  • tomac

    If you don’t want to read the entire article, this quote pretty much sums it up:

    “Gouging the public and taking advantage of consumers is not a crime, but throwing a fastball towards their head and hoping they keep returning to the batter’s box is not likely to keep the game going.”

  • Dunzor

    @tomac said...

    If you don’t want to read the entire article, this quote pretty much sums it up:

    “Gouging the public and taking advantage of consumers is not a crime, but throwing a fastball towards their head and hoping they keep returning to the batter’s box is not likely to keep the game going.”

    that article was written that first weekend so the real question is whether they’ve gotten better after the first couple days as they claimed they would

  • noddy

    @Dunzor said...

    that article was written that first weekend so the real question is whether they’ve gotten better after the first couple days as they claimed they would

    Yep that’s what I’m trying to find out. Can’t believe would post today’s lines so we could see them.

  • Pitch120

    The futures bets are much better odds fwiw

  • noddy

    @Pitch120 said...

    The futures bets are much better odds fwiw

    How about today’s baseball lines or tomorrow’s?

  • Pitch120

    Does the live cashout apply to future bets and parlays?

    Ex: I parlay Yankees and Tiger Woods to win, will a cashout option appear at any point

  • TPSC

    “First to market” is not a distinction to be proud of given the lines you are dealing.

    Be better. I’m not sure why anyone would expect Draftkings to be anything other than the laughably incompetent company that plunged this entire industry into war with state legislatures by pissing off legislators at their homes with the worst marketing campaign in sports marketing history.

    It’d be a shock if you’re able to do something right for the first time. But hey, you have a shot.

  • yisman

    I was on a highway in New Jersey and I saw a billboard for the DK sportsbook.

  • yisman

    @emnj69 said...

    if you have funds in dk can they be transferred to sportsbook dk? or linked?

    yes. For me, my DFS funds are available to bet with and they go into the same account.

  • db730

    RotoGrinders Media Director

    • 777

      RG Overall Ranking

    • 2016 DraftKings FFWC Finalist

    • 2016 DraftKings FBBWC Finalist

    @Pitch120 said...

    Does the live cashout apply to future bets and parlays?

    Ex: I parlay Yankees and Tiger Woods to win, will a cashout option appear at any point

    From my understanding….yes they will.

  • DraftKings_CM

    • DraftKings Representative

    https://rotogrinders.com/threads/draftkings-sportsbook-nj-1st-to-market-in-mobile-and-online-sports-betting-2609647#reply-2609739

    For the live cashout feature…Does it apply to futures bets? Like if I bet on 5 golfers to win the PGA this weekend, will they offer live cash outs for them?

    The DraftKings Sportsbook supports Cashout of all separately placed futures bets, including parlays. The Sportsbook does not yet support Cashout if the bets were placed on a single ‘coupon / ticket’. If the “Cash Out” icon is displayed on the bet slip, then it is supported.

    In the example below, Cash Out is not supported in the first wager because they were three bets placed at the same time on a single bet slip. We do currently support Cash Out whenever each bet is placed separately.

    so you only have to be in jersey to place the bet? you can live in another state correct? Will the app allow that?

    You can only make a bet in a state where DraftKings is licensed for regulated sports betting, which is exclusively in New Jersey as of the time of this post. Your account will be restricted from making a bet if you are physically located in a state that does not permit sports gambling. You are not required to be a resident of New Jersey, but you must be located within New Jersey’s borders.

    I’m hoping the geolocation is a work in progress. It keeps checking the location way often, can take way to long, and needs to be more accurate. It is very annoying when trying to place a live bet, to have it pop up, usually only takes 5-10 seconds, but in that time a contest can be suspended or odds can change. Then there are other times when it tells me it needs to confirm my location, and it just never can confirm, I have to restart the app, and log in again, and then it can confirm my location quickly. All of these can be very annoying. And then over the weekend I was about 5 miles from the boarder, and kept being told that I wasn’t allowed to place a bet from my current location. If my GPS app can get my location down to a handful of feet, you should be able to get better than 5 miles. So far that is my biggest issue, so hopefully like I said it is a work in progress. Because otherwise I love the app and love the service!

    DraftKings uses Geocomply to verify that you are located within the State of New Jersey. The geolocation requirements that DraftKings complies with are far more strict and precise than the gelocation offered by your phone provider.

    If you believe that you are within New Jersey state borders and you are being restricted from playing for real money due to geolocation verification, there may be an issue with locating you via Wi-Fi. Check to make sure that you have your phone’s Wi-Fi signal/capability turned on. If your computer or phone is not equipped with Wi-Fi, it likely you will not be able to access real money games.

    How are the lines and vig?

    Our Sportsbook traders had to adjust the Baseball money line after day one, the back-end calculations that determined the money line did not compete the way we wanted. We admit our lines were not efficient or competitive on the first day, that’s why by the second day of our soft launch last week we made these adjustments. We are happy to report that we are not aware of any issues that would keep us from being competitive with MLB payouts and odds going forward. The efficiency of the MLB money line is an issue that we will continue to assess, we have competitive monitoring and reporting in place to help us assure that what we release meets our competitive standards going forward. Our goal is to make sure that DraftKings Sportsbook becomes the best Sportsbook experience in the USA.

    if you have funds in dk can they be transferred to sportsbook dk? or linked?

    We offer multiple ways to fund your Sportsbook account. Visit the Sportsbook Deposit Page to make a deposit or to see your available options. All existing funds you have in your DraftKings account will be available for use on Sportsbook.

    Going forward, you will have one DraftKings account for both DFS and Sportsbook, but there will be an individual deposit process for each product. Funds deposited directly for DFS will not be available for sports betting unless they are derived from winnings. Funds deposited for Sportsbook will be available for DFS and sports betting.

    Sportsbetting obviously has a lot of promise as an industry and DK looks like it might play a critical role in shaping the future of the legal industry. So what I say below comes from a place of love.
    If the vig is anything close to what we have seen on the early look at DK or on FanDuel, then it will only be patronized by drooling idiots and the whole industry deserves to fail massively as a legal enterprise.

    Happy to report that the money line that everyone keeps using as evidence was a situation for MLB only, on day one. Our other options were not affected such as futures bets, O/U, in-game live bets, cashout, etc. We have since adjusted the Baseball money line to be more competitive, as described above.

    He said in the interview they adjusted their lines after the first day and now they are competitive. For anyone in NJ is that true?

    Of course it’s true. Don’t believe our founder Matt Kalish? Then check out for yourself what betters in NJ have to say on twitter.

    https://twitter.com/Emeye73/status/1026625335608135680

    If you don’t want to read the entire article, this quote pretty much sums it up: “Gouging the public and taking advantage of consumers is not a crime, but throwing a fastball towards their head and hoping they keep returning to the batter’s box is not likely to keep the game going.”

    This article was written on our first day of soft launch when our MLB lines were admittedly inefficient, without consideration for any other sports, props, live wagers, or futures that we offered on day one. Nor did the authors credit us for solving the problem so quickly by providing more competitive lines prior to our official launch earlier today.

    DraftKings Sportsbook lines are generated using a sophisticated trading model that intakes a myriad of factors to calculate the lines. Pricing on day one will not be reflective of our pricing going forward, as more bets come in, the lines become more efficient.

    - DraftKings Community Team

    PS: More responses soon!

  • Pats7914

    • 74

      RG Overall Ranking

    • Ranked #98

      RG Tiered Ranking

    Those explanations are sort of lol, not sure what sophisticated back end calculations needed to be done given vig standards are pretty established. Seems way more likely it was a trial balloon on where rake could be pushed to.

    That said, whatever the reason, good job and good news if the rake is now competitive with the good offshore books. Plenty of room to grow the business the right way and still print money.

  • yisman

    For mlb, I can confirm the money lines at least are competitive

  • ChaosM83

    • 589

      RG Overall Ranking

    @yisman said...

    For mlb, I can confirm the money lines at least are competitive

    Sorry the portion i highlighted didn’t quote properly… below is what I tried to quote.

    DraftKings uses Geocomply to verify that you are located within the State of New Jersey. The geolocation requirements that DraftKings complies with are far more strict and precise than the gelocation offered by your phone provider.

    If you believe that you are within New Jersey state borders and you are being restricted from playing for real money due to geolocation verification, there may be an issue with locating you via Wi-Fi. Check to make sure that you have your phone’s Wi-Fi signal/capability turned on. If your computer or phone is not equipped with Wi-Fi, it likely you will not be able to access real money games.

    The Geolocation requirements that DraftKings has maybe more strict, but whatever you are using to measure it is not more precise than what I have on my phone. Hence the reason that I brought up the issue. I was in the city of Phillipsburg which I know is located in NJ, you have to cross a river to get into PA so I don’t “believe” I was in the state borders, I KNOW that I was in the state boarders. I can stand there with Waze or any other GPS app and it can tell me what street I am on, it can tell me I am in the parking lot of the mall, but your site is telling me I am not in the state. The PA boarder is about 4 miles away, so to me that is not very precise. I would think this is something DraftKings and whatever service they use should look into improving, especially as you grow into more states for football time.

  • noddy

    Well I hope it comes to Pennsylvania soon.

  • DraftKings_CM

    • DraftKings Representative

    @noddy said...

    Yep that’s what I’m trying to find out. Can’t believe would post today’s lines so we could see them.

    MLB money lines are but a small part of the offering provided by the DraftKings Sportsbook in NJ. There has been a lot of attention over the admittedly inefficient baseball lines in our first few days of launch, but the bigger picture is far more interesting. 23% of the handle during our soft launch came from parlays, and 35% of the handle came from live in-game wagers. It’s still early, but it gives great insight into the interests of Sports Bettors in New Jersey.

    Does the live cashout apply to future bets and parlays? Ex: I parlay Yankees and Tiger Woods to win, will a cashout option appear at any point

    The DraftKings Sportsbook supports Cash Out of all separately placed futures bets, including parlays. If the “Cash Out” icon is displayed on the bet slip, then it is supported.

    I was on a highway in New Jersey and I saw a billboard for the DK sportsbook.

    We took over the Hoboken Terminal!

    The Geolocation requirements that DraftKings has maybe more strict, but whatever you are using to measure it is not more precise than what I have on my phone. Hence the reason that I brought up the issue. I was in the city of Phillipsburg which I know is located in NJ, you have to cross a river to get into PA so I don’t “believe” I was in the state borders, I KNOW that I was in the state boarders. I can stand there with Waze or any other GPS app and it can tell me what street I am on, it can tell me I am in the parking lot of the mall, but your site is telling me I am not in the state. The PA boarder is about 4 miles away, so to me that is not very precise. I would think this is something DraftKings and whatever service they use should look into improving, especially as you grow into more states for football time.

    Geolocation requirements are defined by the NJ DGE. We use one of their approved and licensed vendors to provide our geolocation services, the industry tends to use conservative measures to assure compliance. We are sorry for the inconvenience, geolocation is one of the necessities while operating within the states borders.

    For mlb, I can confirm the money lines at least are competitive

    Thank you for confirming yisman, we appreciate it! Let’s not forget our futures, totals, live in-game props, O/U and parlay ability. We believe the our Sportsbetting solution should be judged as the sum of the experience we offer to Sports Bettors, not just the money line.

    - DraftKings Community Team

  • X Unread Thread
  • X Thread with New Replies*
  • *Jumps to your first unread reply

Subforum Index

RotoGrinders.com is the home of the daily fantasy sports community. Our content, rankings, member blogs, promotions and forum discussion all cater to the players that like to create a new fantasy team every day of the week.

If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-Gambler (NJ/WV/PA), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO) or 1-800-BETS OFF (IA). 21+. NJ/PA/WV/IN/IA/CO/IL only.