DraftKings counters US saturation by launching Down Under

DraftKings counters US saturation by launching Down Under

Friday, April 20, 2018 Posted by Michael Lawson
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The firm has secured a Northern Territory Racing Commission licence.

US daily fantasy sports (DFS) operator DraftKings has confirmed that it will launch its Australian property in Q2 2018.

DraftKings CEO Jason Robins confirmed that his company had secured a Northern Territory Racing Commission licence, allowing it to operate online wagering services for the Australian market.

Robins and DraftKings leadership have backed the firm’s decision to launch in a market in which DFS services have an established presence.

“Within the last few years, Australia’s burgeoning fantasy sports market has dramatically evolved, adding a variety of daily fantasy sports platforms, feeding the appetite of the many passionate sports fans who love getting closer to the teams, athletes and sports they love,” said Robins.

Entering its new market, DraftKings, which maintains an enterprise valuation of +$1 billion, will compete against established market Australian DFS incumbents such as Moneyball, PlayUP, SportsChamps and DraftStars.

Closer to home, speculation relating to DraftKings long-term future grows, as US sporting stakeholders await the Supreme Court’s judgement on a federal PASPA repeal,

Speaking to US media this March, Robins stated that he was still working towards the goal to ‘publicly list the DFS enterprise’.

Nevertheless, industry analysts have detailed that in 2018, DraftKings and fierce competitor FanDuel have hit ‘peak DFS territory’, reaching player and market saturation within the US market.

Totally Gaming says: Can DraftKings prove that it can effectively grow its DFS channel away from its home US market? The DFS operator enters the Australian market, competing in a region that has proved testing for its international incumbents…

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