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  • 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.

  • noddy

    Thanks for the updates and info DK team.

  • GodFatherMike

  • GodFatherMike

    What?!?!?

    1st) Nobody cares if your numbers workout, that’s your problem. 2nd) “Your Traders”….. Where are you getting your lines? (Here’s an insiders tip….The whole world gets their lines from Pinnacle, stay within a half point of the market and pair off bets. Another tip, it’s not DFS, sometimes you’ll end up having a side of a game…You may even lose GASP!!)

    To be fair it’s not ALL greed, despite doing the same exact thing FD did 2 weeks prior, ripping off customers with crazy vigs. There is a fair amount of having no clue what they’re doing too.

    I’ve seen wildly wrong lines going both ways, if they don’t get their act together it’s only a matter of time before they get crushed on one side because the line is so far off….. That’s not a lose you’ll be able to cheat your customers out of with jacked vigs…. That’s DK Sportsbook becoming a cautionary tale.

    Happy to live 15 mins from William Hill.

  • tomac

    @DraftKings_CM said...

    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.

    What else is there other than the money line?

  • yisman

    @tomac said...

    What else is there other than the money line?

    The money line is the straight up winner of a game. There’s also totals, spreads (run lines in MLB), props, and futures.

  • noddy

    FD has a sportsbook?

  • GodFatherMike

    @noddy said...

    FD has a sportsbook?

    At the Meadowlands, in NJ….. But you’re better off going to William Hill at Monmouth or to Borgata, assuming you’re in the NJ area.

    Don’t go to FD… Just like with Daily FD and DK are holding hands and jumping off the cliff of awful business decisions together, it’s become comical how they manage to fail in unison again and again.

    I thought Betfair would have sent over some professionals and a risk management team for FD…… I don’t know what DK is doing,Kambi isn’t helping. Apparently they have some dude with a broken calculator making lines in a backroom…. and Resorts is having completely different company run their brick and mortar sportsbook.

    Once I saw them running into the market like kids leaving on the last day of school I got a bad feeling.

    We haven’t heard about any of the AC books ripping people off with bad lines and worse excuses…. Haven’t seen them force out any apps either…. But MGM inked a deal with the NBA to get all their real time data for in game betting, professional type stuff.

    This isn’t DFS, there are a bunch of big casinos, with Billions of dollars, slowing walking in with their decades of knowledge and what is sure to be superior offerings

    Sorry DK but being “first to market” is more often than not a poor outcome (Friendster,MySpace,Tivo, Reebok Pumps, Xerox Alto) … very much so in this case since your potentially thin advantage was to build a new loyal customer base. How’s that going?

    Personally, I’m not feeling to loyal….outside of your issue with odds / vigs your bonus system probably could have been better thought out and explained. After I got the “VIP” email I’m pretty sure everyone in the state got I clicked the link and bet 1 single dollar, just to make sure it worked. And it did WOOOHOOO!!!

    Then I got my free $1 play, which it appears was my piece of the $200 match bonus?

    I’m a Diamond level player, so I’m cycling though about $20k+ on DK (leaving room for promo “crowns”)…. Thanks for the dollar. LOL

    Slow down, think things through.

  • DraftKings_CM

    • DraftKings Representative

    @GodFatherMike said...

    I’ve seen wildly wrong lines going both ways, if they don’t get their act together it’s only a matter of time before they get crushed on one side because the line is so far off….. That’s not a lose you’ll be able to cheat your customers out of with jacked vigs…. That’s DK Sportsbook becoming a cautionary tale.

    The books that use the Vegas lines frequently use a fixed margin. As the local action becomes lopsided, Vegas has two options to support their defensive book balancing business model:
    1) Vegas adjusts the spread to balance the books while keeping the sides equidistant
    2) Vegas adjusts the price

    Generally speaking, Vegas style bookmakers want to have an equal amount of liability on both teams, so in the lead-up to the event, they often move the line to ensure they can cover either result. The line frequently bounces, especially where there is excessive local action on one side. This is a defensive method of bookmaking, and it is what most Americans are used to. Ask yourself, when was the last time Vegas had a losing month? Perhaps the way that Vegas trades is not the best way for the end consumer after all?

    DraftKings manages our Sportsbook in a very different way. The DraftKings number is based on actual probability of an outcome occurring. This means we do not move the line to balance the books like then do in Vegas. If there is lopsided action on one side, our number is unlikely to change based on local action, our number is determined by the open market. Our method is a better solution that will be more efficient, and will return more to players over the long run due to our pricing model.

    The money line is the straight up winner of a game. There’s also totals, spreads (run lines in MLB), props, and futures.

    We also offer alternate totals, alternate point spread, run lines, halves, and every prop you could imagine. Our bet slip support Singles, Parlays and Round Robins – with more bet types to come!. Our futures are based on the the real probability of the wager winning, which means we will often be unaffected by the local action lowering the price to balance the book. We even allow parlays across futures, this means you could bet the Super Bowl winner and an MLB money line together if you desire.

    And don’t forget we offer Cash Out bets – something you won’t find anywhere else in NJ at this time.

    Apparently they have some dude with a broken calculator making lines in a backroom

    Here is today’s MLB money lines. Please show the math you are using to backup your claims, we will be happy to discuss and debate.

    Lets use TB vs TOR as the example. The implied probability of TB winning at -117 is 53.9%. The implied probability of TOR winning at +102 is 47.9%. This means the commission taken by DraftKings is 3.4%

    A quick search of the internet shows the money line for the same game at Wynn is set for the implied probability of TB winning at -119 is 54.3%, and the implied probability of TOR winning at +104 is 49%. Wynn also takes a 3.4% commission.

    the number in the right hand column is the money line

    For those of you at home playing along, one of the really cool things the DraftKings Sportsbook app provides is the ability to switch between American Odds, Decimal, and Fractions. The ability of our sportsbook app to switch between the three odds types, and calculate potential winnings on the fly provides greater transparency. This empowers our customers to keeps us honest, while helping sports betters calculate their potential winnings faster.

    We haven’t heard about any of the AC books ripping people off with bad lines and worse excuses

    DraftKings is offering 40/1 futures on the NY Giants for Super Bowl LIII. The Vegas number is 25/1. Hard to argue against us here, it is not influenced by the local action – the analysis of our traders shows this is the true probability of the outcome. If you think our analysis is wrong, then it could be to your benefit.

    This isn’t DFS, there are a bunch of big casinos, with Billions of dollars, slowing walking in with their decades of knowledge and what is sure to be superior offerings

    In Vegas the sportsbook is an amenity for guests of the casino, it is not “the” business. At DraftKings, sports engagement is THE business, we exist to build amazing experiences for sports fans. Bring it on Vegas, DraftKings is ready!

    Sorry DK but being “first to market” is more often than not a poor outcome (Friendster,MySpace,Tivo, Reebok Pumps, Xerox Alto) … very much so in this Icase since your potentially thin advantage was to build a new loyal customer base. How’s that going?

    The media has universally praised the DraftKings Sportsbook product offering, our company understands how to provide a superiors sports experience. First to offer online Sportbook is VERY important in the emerging regulated market, we delivered a superior product experience (our Sportsbook app) that our competitors did not expect and were not prepared for. In time it will be determined if our bet to be first to market with superior product experience helps our team open new states for DraftKings, further expanding legalized sports betting one state at a time.

    But none of that matters to the good people of New Jersey. They were 12 NFL preseason games last night. The only place to legally bet online on these games in New Jersey was on the DraftKings Sportsbook, providing a complete sports fan experience who want a little skin in the game with live in-game props. If you live in New Jersey, this is what matters – if we were not first to market, then there would be no legal options to bet online from the comfort of your home in NJ for NFL preseason, or on the Rogers Cup Tennis, EPL (starts today!), Live PGA Championship and so much more!

    - DraftKings Community Team

  • yisman

    just had a bet rejected for the first time.

  • Dunzor

    @yisman said...

    just had a bet rejected for the first time.

    was there a reasoning provided?

  • mike291md

    @DraftKings_CM said...

    The media has universally praised the DraftKings Sportsbook product offering

    Funny you say that because there is an article linked somewhere in this very thread that definitely didn’t seem to be praising your vig lines.

    This is one of the quotes from that article posted on page 1 of this thread…

    “William Hill offers moneylines similar to the Westgate in Las Vegas and often a 10 cent spread. Other sportsbooks offer a 15 or 20 cent spread, which is still considered ‘acceptable’. But a near 30 cent spread or more like DraftKings is an insult to experienced bettors. And business could end up elsewhere as competition grows if DraftKings doesn’t adjust.”

  • yisman

    @Dunzor said...

    Link

    No. I only even found out by checking my pending bets.

  • Pitch120

    Draftkings, your marketing is deceptive.

    I made two separate $100 first time bets after a $200 first time deposit. I thought id be credited with $200 for my free bet. Instead I was only credited with $100.

    I should receive a $200 free bet, not $100, since I deposited and bet $200.

    Please advise

  • DraftKings_CM

    • DraftKings Representative

    just had a bet rejected for the first time.

    Only our authorised staff in NJ can review your account as per NJ regulations. Please reach out to sportsbook@draftkings.com, they will be happy to help.

    PS: The Community Team is located in Boston.

    Funny you say that because there is an article linked somewhere in this very thread that definitely didn’t seem to be praising your vig lines.

    The article you quoted was from TheLines.com, written the day after we launched. We admit the money line for MLB was not efficient on our first day. We have sinced solved this problem, as proven with the money line screen capture above where we offer a very reasonable 3.4% commission. TheLines.com has since come out praising DraftKings Sportsbook, in particular our in-play betting and live Cash Outs: https://www.thelines.com/draftkings-sportsbook-in-play-betting/

    Here is a quote: “they’ve also literally made every “event within the event” potentially mean something by making all of them wagerable. That’s right. Every point in tennis. Every play in a football game. Shoot, every pitch in a baseball game. They all have odds assigned within DraftKings Sportsbook, allowing you to plunk some money down on, say, whether “(player-popup #tom-brady)Tom Brady”:/players/tom-brady-11604’s next pass successfully finds its target or falls incomplete. This week, for example, DraftKings Sportsbook is offering in-play golf bets on every hole for Tiger Woods and Rory McIlroy, who are included in the featured groups in the PGA Championship.

    Draftkings, your marketing is deceptive.
    I made two separate $100 first time bets after a $200 first time deposit. I thought id be credited with $200 for my free bet. Instead I was only credited with $100.
    I should receive a $200 free bet, not $100, since I deposited and bet $200.
    Please advise

    The promotion banner says “Offer Valid on First Bet Placed”, but if you contact our support team in New Jersey by emailing sportsbook@draftkings.com they can review the situation on your behalf. Our team members working out of the NJ office will be happy to help. https://sportsbook.draftkings.com/help/freebets-and-promotions/freebets-and-promotions

    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.

  • KindGuy

    @DraftKings_CM said...

    The article you quoted was from TheLines.com, written the day after we launched. We admit the money line for MLB was not efficient on our first day. We have sinced solved this problem, as proven with the money line screen capture above where we offer a very reasonable 3.4% commission. TheLines.com has since come out praising DraftKings Sportsbook, in particular our in-play betting and live Cash Outs: https://www.thelines.com/draftkings-sportsbook-in-play-betting/

    Why is the vig 3.4% for your sportsbook and as high as 15.9% in DFS??? Wtf, cmon!

  • Pitch120

    @DraftKings_CM said...

    just had a bet rejected for the first time.

    Only our authorised staff in NJ can review your account as per NJ regulations. Please reach out to sportsbook@draftkings.com, they will be happy to help.

    PS: The Community Team is located in Boston.

    Funny you say that because there is an article linked somewhere in this very thread that definitely didn’t seem to be praising your vig lines.

    The article you quoted was from TheLines.com, written the day after we launched. We admit the money line for MLB was not efficient on our first day. We have sinced solved this problem, as proven with the money line screen capture above where we offer a very reasonable 3.4% commission. TheLines.com has since come out praising DraftKings Sportsbook, in particular our in-play betting and live Cash Outs: https://www.thelines.com/draftkings-sportsbook-in-play-betting/

    Here is a quote: “they’ve also literally made every “event within the event” potentially mean something by making all of them wagerable. That’s right. Every point in tennis. Every play in a football game. Shoot, every pitch in a baseball game. They all have odds assigned within DraftKings Sportsbook, allowing you to plunk some money down on, say, whether “(player-popup #tom-brady)Tom Brady”:/players/tom-brady-11604’s next pass successfully finds its target or falls incomplete. This week, for example, DraftKings Sportsbook is offering in-play golf bets on every hole for Tiger Woods and Rory McIlroy, who are included in the featured groups in the PGA Championship.

    Draftkings, your marketing is deceptive.
    I made two separate $100 first time bets after a $200 first time deposit. I thought id be credited with $200 for my free bet. Instead I was only credited with $100.
    I should receive a $200 free bet, not $100, since I deposited and bet $200.
    Please advise

    The promotion banner says “Offer Valid on First Bet Placed”, but if you contact our support team in New Jersey by emailing sportsbook@draftkings.com they can review the situation on your behalf. Our team members working out of the NJ office will be happy to help. https://sportsbook.draftkings.com/help/freebets-and-promotions/freebets-and-promotions

    _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._

    Sent an email about the free bet, thanks for the help

  • DraftKings_CM

    • DraftKings Representative

    @elementasrat said...

    Why is the vig 3.4% for your sportsbook and as high as 15.9% in DFS??? Wtf, cmon!

    Comparing sports betting to DFS is comparing apples to oranges. In Sportsbook the wager is against the house. When the better wins, the house loses, and the opposite is also true.

    In Daily Fantasy Sports DraftKings provides very healthy guarantees, there is no house, it is a peer to peer game. When guarantees are missed, DraftKings covers the difference. This is a significant part of our reinvestment in the DFS ecosystem, and helps ensure there is healthy and vibrant, while providing necessary funds to promote the game to new players.

    PS: We appreciate you noticing how low our sportsbook commission is, there have been a lot of outrageous claims that our “vig” is much higher from people who do not know how to calculate the commission taken from American Odds. Maybe they should switch to decimal odds?

    - DraftKings Community Team

  • noddy

    Any chance you’ll be operation in Pennsylvania anytime soon?

  • noddy

    Any updates on how this is going?

  • DraftKings_CM

    • DraftKings Representative

    @noddy said...

    Any chance you’ll be operation in Pennsylvania anytime soon?

    We have not announced any states other than NJ at this time.

    Once new states are announced, we will share the information with our friends here on RG.

    - DraftKings Community Team

  • Pats7914

    • 74

      RG Overall Ranking

    • Ranked #98

      RG Tiered Ranking

    MLB lines arent close to competitive with online book lines, so the claim you made last week that it was just a first day error seems off.

    Examples

    NYY -220/TB +180 5 dimes is -193/+182
    Boston -121/Phi+105 5dimes is -109/-101
    Cle -175/Cin +145 5dimes is Cle -165/Cin +145
    SD -132/LAA +112 5 dimes is SD -123/LAA +113

    Could go on but they are all like this.

    Bitcoin makes offshore very easy these days. No reason to play at this book with these lines. Bovada, for example, will walk players through how to set up bitcoin. Can move money on in about 30 minutes, payouts 24-48 hours.

    Dont be hogs, grow this offering without this vig markup. We arent all idiots here, you guys are juicing favorites to take money off of new/square bettors.

    Oh one more thing that I missed. This:

    DraftKings manages our Sportsbook in a very different way. The DraftKings number is based on actual probability of an outcome occurring. This means we do not move the line to balance the books like then do in Vegas. If there is lopsided action on one side, our number is unlikely to change based on local action, our number is determined by the open market. Our method is a better solution that will be more efficient, and will return more to players over the long run due to our pricing model.

    is nonsense. If you are taking a higher vig on bets, and you are, more of the overall pool of money is not going to return to the players in the long-run. Not sure if this is double talk or ignorance of basic math, but that obviously cant be true as you are describing it.

    Or, to give a more concrete example, explain how the player is better off with the SD/LAA line under the DK system vs. market pricing.

  • MrFantasy

    @Pats7914 said...

    MLB lines arent close to competitive with online book lines, so the claim you made last week that it was just a first day error seems off.

    Examples

    NYY -220/TB +180 5 dimes is -193/+182
    Boston -121/Phi+105 5dimes is -109/-101
    Cle -175/Cin +145 5dimes is Cle -165/Cin +145

    Could go on but they are all like this.

    Bitcoin makes offshore very easy these days. No reason to play at this book with these lines. Bovada, for example, will walk players through how to set up bitcoin. Can move money on in about 30 minutes, payouts 24-48 hours.

    Dont be hogs, grow this offering without this vig markup. We arent all idiots here, you guys are juicing favorites to take money off of new/square bettors.

    I could not have said it better myself. These lines are trash. I’m actually thrilled about this because the bonus offerings offshore has been giving lately are tremendous. The reduced/low juice and 100% bonuses as well as not needing to provide silly things like income verification to get real money down on games make offshore better in virtually every way possible.

    The fantasy product will continue to suffer or possibly even die as all their focus will be put towards something they may be able to profit off of. Fantasy didn’t work out too well for them. Draftkings is taking money right out of your pocket with these lines.

  • Pats7914

    • 74

      RG Overall Ranking

    • Ranked #98

      RG Tiered Ranking

    I mistyped the line too, the Reds are +155. So better on both sides of the bet away from DK,

    Look, all else equal (particularly because I do report offshore on my taxes), I want to play with DK over the offshore books! Its regulated, Im less concerned about my money being safe, the interface seems good, I already play DFS on there etc. But Im not going to support DK trying to design an inferior, higher rake product as the standard for the regulated market and I don’t like being told things that aren’t true or correct by DK community support.

    IMHO, it is bad enough what the excessive rake/short-term cash grab has done to the long-term prospects of the DFS industry. There is zero reason to support a similar rake grab for sports betting where the standard vig is well established.

  • Pats7914

    • 74

      RG Overall Ranking

    • Ranked #98

      RG Tiered Ranking

    8/16 lines

    Cubs -132 Pirates +112 Offshore -123/+113
    Cards -127 Nats +110 Offshore -118/108
    Col -109/Atl -107 Offshore -105/-105
    Minn -175/Det +148 Offshore -173/+163
    Tor -136/+117 Offshore -132/+122
    Ari -167/143 Offshore -147/137

    Col/Atl game the best example. Standard juice here -105. DK charging extra vig on both sides

    Hard to argue these are in line with the market….

  • noddy

    Why does DK keep saying they are the same then?

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