DraftKings is one of the biggest names in the industry when it comes to daily fantasy sports (DFS) as well as sports betting. In fact, it was the firstsportsbook app in the US to take bets beyond the borders of Nevada.

While sports betting has yet to be legalized in California, DraftKings’ operations in other legalized markets has proven highly successful. It also provides a positive preview of what’s to come from a potential DraftKings Sportsbook operating in California.

DraftKings Sportsbook in California

Fantasy sports giant DraftKings partnered with Caesars Entertainment– another big name in the world of gambling– in 2019. The focus of the partnership was access to new markets and new databases for both companies. Caesars gained access to the DraftKings marketing database, which included roughly 10 million email addresses, that it could now market its offerings to.

DraftKings Sportsbook is not currently operating in California because California has yet to legalize sports gambling. While there have been attempts, it seems that the next opportunity to get it on the ballot will be the 2022 election. When it does become legal, DraftKings will pursue a license in the state. Jan 09, 2019 DraftKings Sportsbook announced a deal in December 2018 to operate WV sports betting via mobile. DraftKings partnered with Penn National Gaming, which runs Hollywood Casino at Charles Town Races. DraftKings Sportsbook went live in WV in August, around the same time as rival FanDuel launched. After striking gold in 2019, DraftKings is primed to mine the California sports betting market when it opens. Here’s a look back at DraftKings’ success in 2019, plus a lay of the land for what it will take to open the lucrative California sports betting market.

Bonus funds will be awarded to the user according to the following play-through requirement: for every $25 played on DraftKings in DFS/Sportsbook/Casino, the user will receive $1 in bonus funds released into their player account (e.g., a $5,000 deposit requires a user to play through a cumulative total of $25,000 in daily fantasy contests, sportsbook (-300 odds or longer), casino products, or any combination thereof to receive the maximum possible bonus amount of $1,000).

DraftKings, on the other hand, could get market access in states where Caesars owned/managed a brick-and-mortar property, in order to help the sportsbook expand into new markets. This includes California, since Caesars operates Harrah’s Southern California.

DraftKings is already an established brand in California with its many daily fantasy sports games. As the gambling laws continue to change across the country, DraftKings will mostly likely run a sportsbook in the Golden State, too.

DraftKings CA Bonus Code

DraftKings has been operating online sportbooks in multiple states for some time. Taking a look at what they offer in one of their live markets can give us an idea of what they might offer in California.

Currently, new enrollees at DraftKings New Jersey receive a welcome offer up to $1,050 upon making their first bet.

This includes an exclusive offer, of up to a $50free bet offer with deposit, and a first-deposit match of 20% up to $1,000.

DraftKings Sportsbook in California will probably offer a similar initial-bet bonus.

DraftKings Sportsbook app in California

DraftKings’ sportsbook app has won the hearts of many bettors across the US. Its software is extremely quick, which allows transactions and geolocation to happen almost instantaneously.

The app also features quick links to popular sports, sports on the schedule happening at the moment, a comprehensive list of every sport and event on which you can wager, and connections to your account.

You can also get a brief scouting report on each matchup as well as the direction the point spread or odds have been moving.

Sports selection at DraftKings Sportsbook

One of the first things that a sportsbook must figure out is the different sports that it will offer. This partially depends on the individual state’s regulations. For example, some states have restrictions on events like college football. However, DraftKings offers most major sports in its jurisdictions:

• Basketball: With the Lakers last decade and the Warriors this decade, it seems the NBA title always runs through California. There’s also a college program in Los Angeles that boasts its share of titles. Basketball is an obvious offering for DraftKings in the Golden State.
• Hockey: Ever since the Los Angeles Kings won the Stanley Cup in 2012 and 2014, hockey popularity surged in California. Hockey is a great sport to gamble on, and it will likely be available at DraftKings CA.
• Baseball: California is home to five Major League teams – far more than any other state. Baseball is also the original fantasy sport, which makes it a natural for a new DraftKings sportsbook.
• Football: Football is the biggest sport in fantasy and the most popular one to bet on at DraftKings’ existing sportsbooks. There’s nothing like putting money into a game that also features your top fantasy players.
• Golf: If America were to have a national golf course, it would be Pebble Beach. With the return of Tiger Woods and sportsbooks seeing increased interest in golf betting, it’s likely to be offered by DraftKings in the Golden State.
• MMA: Previous DraftKings ventures have provided a full slate of MMA and UFC betting options. Considering these sports’ massive popularity in California, the sportsbook in the Golden State is likely to follow suit.

Additional sports and leagues

DraftKings likely will allow California customers to bet on cricket, darts, cycling, motor racing, tennis, soccer, rugby, Aussie rules football and more. If you’re a fan of wagering on some of the less popular worldwide sports, DraftKings will probably have you covered.

Bets you can place at DraftKings Sportsbook

Along with sports to bet on, every great sportsbook must offer a variety of wagering options. DraftKings does exactly that at its current sportsbooks, and California players can look forward to the same.

• Point spread: The point spread bet is the most common of team bets, the bread and butter of both the sportsbook and sports gambler. Spread betting takes into account the margin of victory/loss for a team.
• Moneyline: A straight win/loss bet with no points. Instead of a point spread, each team receives odds on whether they are the favorite or the underdog. DraftKings has also been known to give moneyline bonuses, making this type of bet even more attractive. Moneyline bets are all but certain to be available at a California sportsbook.
• Over/Under: Another basic single game bet is the over/under, also known as a totals bet. The bookmaker sets a line for the combined total points scored by both teams, and the bettor chooses to bet either over or under that line. You can expect totals bets to be on the menu once the sportsbook hits the California market.
• Parlay: Parlays take multiple event bets and combine them into one single wager, payable if all the bets hit. This gives a much higher chance of a losing bet, but with a bigger payoff for a win. DraftKings will undoubtedly offer parlays in the Golden State.
• Prop bets: Bets inside a sporting event are known as proposition bets. Which team will score first? How many touchdowns will a certain wide receiver score? These bets are fun to make but not a solid plan to make money. When Super Bowl Sunday rolls around, the fun of prop bets hits its zenith.

Other bet types

DraftKings is also set to offer California customers futuresbets (wagers on events yet to take place, like a World Series), teasers (which allow players to shift point spreads in their favor), and in-play wagering.

In-play wagering involves placing bets on events that are already in progress. These bets come with changing odds, second chance multipliers, halftime totals, and many possible in-game buyouts as the event progresses.

DraftKings Sportsbook promotions and incentives

Sportsbooks offer customers promotions and incentives because the playing field is competitive – and they want your business. New sportsbooks in a state are deep in the promotions business as they don’t yet boast an established customer base, and it is a great way to gain new customers. This is a great benefit to the customer.

Standard promotions

Along with the welcome offer that DraftKings consistently offers its new customers, regular odds boosts on moneyline bets should also be prevalent in California. DraftKings CA is also likely to grant $25 in free bonus bets for each person you refer that opens an account, makes a deposit, and places a bet.

Seasonal promotions

The sports calendar will dictate some of the promotions that DraftKings offers its players.

The new sportsbook should offer basketballinsurance on moneyline bets. For example, you would win your bet of up to $50 even if your team loses, as long as it was the first to score 100 points.

We expect baseball moneyline insurance to work similarly. If your team scores five runs but loses, you will likely receive a credit of up to $25. Each insurance type will likely require you to opt-in when placing the bet.

As the calendar changes, so will these promotions.

DraftKings Sportsbook software

DraftKings’ partnership with Caesars isn’t the only big-name connection helping the company build its sportsbook brand.

DraftKings originally struck a multiyear deal with Kambi to provide its gaming and platform technology. However, in 2020, the company announced it would be leaving Kambi for SBTech.

SBTech provides sports betting solutions and management services to their worldwide partners.

DraftKings Sportsbook rewards program

DraftKings launched their “Daily Rewards” program a few years ago, which includes different status tiers. Based on your volume of play, you are placed into a certain level of the rewards program.

More tournaments and higher buy-ins equate to a higher tier status. Each tier has its own set of rewards you can earn.

If you earn a status tier for any given month, you receive daily rewards the following month. Rewards include contest entries, DK Dollars and Crowns. Players have to log-in to claim the rewards.

The pros of DraftKings Sportsbook

DraftKings has been in the daily fantasy sports game for years, which puts them in tune with the betting trends that are most appealing to customers.

DraftKings has also been front and center in the many legal discussions taking place at the state level all across the country. Not only does this give the company an intimate understanding of the sports gambling laws that are being passed; it grants it the opportunity to help shape those laws.

The cons of DraftKings Sportsbook

DraftKings has fared well in new markets, but California is still up in the air. Will the laws that California eventually adopts fit the experience that DraftKings has gained with the sportsbooks it operates elsewhere in the country? California is the crown jewel of state markets. Can DraftKings separate itself from the pack of operators that are sure to flock to the state?

DraftKings has had great success so far. However, the questions above still need to be answered.

Managing your finances at DraftKings Sportsbook

One major requirement for a sportsbook is to make the moving of money in and out of your account as straightforward as possible.

At its current sportsbooks, DraftKings gives you the option to make both deposits and withdrawals on the website and through the mobile app.

Making deposits

Security is the top priority when depositing money into an electronic account. Online bill pay is the best way to keep your account secure as your account number is never shared.

As is standard throughout the industry, you should also be able to fund your account by credit and debit card, PayPal and personal check. A check will result in a processing delay of several days.

Making withdrawals

If you use one of the electronic options, then withdrawing your money is likely to be as simple as reversing the deposit process. DraftKings should send the money back to you instantaneously. Conversely, a check in the mail always comes with processing delays.

Draftkings Sportsbook In California

DraftKings customer support

Finding customer service should be easy through both DraftKings’ website and app. DraftKing is set to offer California customers 24-hour support by online chat, telephone and email.

We also expect an extensive user’s guide and FAQ section that should make it easy for customers to troubleshoot most issues they might encounter.

DraftKings is now a publicly traded company.

The acquisition of DraftKings and SBTech received shareholder approval Wednesday, and DraftKings announced late Thursday that it completed the complex transactions to finish its reverse merger.

Draftkings Sportsbook California Rules

The company will begin public offering Friday morning under the DKNG ticker symbol on the Nasdaq.

“By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTech’s proven technology platform, we will accelerate our innovation, growth and scale,” Jason Robins, co-founder and CEO of DraftKings, said in a statement.

How is the DraftKings deal structured?

Diamond Eagle Acquisition Corp., a special-purpose acquisition company, will pay $2.7 billion in cash and stock for both DraftKings and sportsbook technology supplier SBTech.

DraftKings gets the lion’s share of the transaction with $2.055 billion in cash and stock. Cash considerations for the deal will be funded by available DEAC cash and private placements of Class A stock. Those placements, at $304.7 million in commitments as of April 15, were priced at $10 per share.

The acquisition is a means of taking the company public and not a change in ownership or direction. DraftKings CEO Jason Robins will receive Class B shares to give him about 90% of capital stock voting power.

It’s important to note that the shareholder vote is not the final step in the process. The actual business combination still has to be completed, which has no timeline.

It also comes as DraftKings finds itself with little in the way of meaningful revenue outside of its New Jersey online casino operations. It depends largely on sports betting and daily fantasy sports, both of which have slowed during the coronavirus pandemic.

DEAC forecasts significant growth for DraftKings

Sportsbook In California

DraftKings should achieve a compound annual growth rate of more than 31% from 2017 through 2021. That would mean revenues would grow $460 million, DEAC estimates.

The combination of DraftKings and SBTech establishes one of the largest online sports betting, iGaming and daily fantasy sports platforms, according to the DEAC board of directors in the prospectus.

Median estimates suggest $18 billion in online sports betting revenue at maturity and $21 billion in mature iGaming revenue for the US. That gives DraftKings an opportunity to hit anywhere from $2.9 billion to $4.7 billion in annual revenue, according to the investor presentation from December. That includes estimates of 20%to30% market share for sportsbook and 10% to 20% market share for iGaming.

DraftKings is well-positioned to continue its US growth as SBTech is integrated and product offerings and geographic reach expands, according to the board. The company’s DFS product currently has more than four million paid users across 43 states.

All of those estimates, of course, come from a pre-coronavirus betting environment. Once DraftKings is public, the industry will get an idea of how hard it’s been hit since sports shutdown mid-March.

DraftKings reported big losses in 2019

DEAC isn’t taking over a cash-cow just yet.

DraftKings reported a nearly-doubled net loss of $142.7 million last year despite revenues rising 43% to $323.4 million.

The company said the higher loss came from continued platform development and three new state launches.

SBTech issues as deal closed in

SBTech brought DraftKings more headaches than expected before they’re even combined.

SBTech’s global sportsbook partners were down from a cyberattack that began March 27. International partners came back online within six days but US partners waited longer through mid-April. The DEAC shareholder vote was originally scheduled for earlier in April.

It’s also costing the legacy SBTech owners some serious cash. DEAC added a new indemnity clause in the acquisition for $30 million in cash and stock to be held in escrow for two years to cover any claims because of the attack.

That could rise to $25 million in escrow cash and $45 million in locked-up shares if that $30 million isn’t enough.