TwinSpires operates in 21 states-more than the DraftKings mobile sportsbook or iGaming product-and DK Horse will match that footprint, giving users in some states an opportunity to join the DraftKings system before the core product arrives.įor Churchill Downs, it’s an opportunity to scale its betting offerings. It also provides another entry into states that don’t allow online sportsbooks. The deal is a 60-40 revenue share, according to someone familiar with the terms, with Churchill Downs receiving 60% of revenue from wagers taken through DK Horse, and DraftKings keeping 40%.ĭraftKings CEO Jason Robins said in a statement that due to the structure, he expects DK Horse to be “immediately profitable.” That will likely matter to DraftKings investors, as the public markets continue to sour on companies operating under heavy quarterly losses.įor DraftKings, the partnership is an opportunity to expand its offering-providing horse racing odds to existing customers, while potentially attracting new ones.
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