Draftkings Sportsbook States
We are licensed and regulated by the New Jersey Division of Gaming Enforcement as an Internet gaming operator in accordance with the Casino Control Act N.J.S.A. 5:12-1 and its implementing regulations. DraftKings Sportsbook is available in Virginia through the DraftKings Sportsbook app and DraftKings Sportsbook website and offers dozens of American and international sports for users to bet on. There are also many different bet types that are unique to DraftKings such as live, in-game betting, Sportsbook Pools and Teasers+. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia and West Virginia. Each game is rife with intriguing storylines and interesting betting angles, presenting bettors with a plethora of ways to utilize the 100-1 odds boost at DraftKings Sportsbook. This offer, which is available in states such as Illinois, Indiana, Pennsylvania, New Jersey, Iowa, Colorado and Tennessee, is available in-app now, so there’s no. DraftKings is a leading daily fantasy sports and sports betting provider for the most popular sports. Over the past 4 years, DraftKings has driven the massive spike in daily fantasy popularity to become the number one daily fantasy sports provider in the United States. Now, DraftKings has its eyes set on the now legal online sports betting market.
DraftKings on Jan. 24 announced the launch of its mobile and online sportsbook in Virginia, which now represents the 12th state in the US where the online sports betting and gaming company’s product is available.
The launch came ahead of the Super Bowl, which is scheduled to begin in the first week of February. DraftKings (DKNG) rolled out its online and mobile sportsbook in the state of Michigan on Jan. 22. States like Virginia and Michigan have already legalized online sports betting and many other states in the US are also looking at doing the same.
Draftkings Sportsbook Promo Code
Earlier this month, the Governor of New York, Andrew Cuomo, indicated his support to legalize online sports betting and said, “New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis.”
The company has yet to announce its 4Q results. At its most recent 3Q earnings release, DraftKings raised its FY20 revenue guidance from a range of $500-$540 million to a range of $540-$560 million. (See DKNG stock analysis on TipRanks)
DraftKings’ shares were down by 1.9% and closed at $52.53 on Jan. 22.
On Jan. 20, Morgan Stanley analyst Thomas Allen upgraded the stock from Hold to Buy and raised the price target from $39 to $60. Allen is bullish on the stock citing “impressive sports betting and iGaming trends.”
“We also expect DKNG to start to talk about profitability in NJ [New Jersey], as FanDuel did, countering the bear thesis that the industry will never be profitable,” Allen wrote in a note to investors.
“Bringing this all together, we expect Street 2025e EBITDA to rise from $434m today closer to our new $1B forecast (up from $761m). With us still forecasting US sports betting revenue/adult at a discount to Australia/UK, potential for greater share concentration, and a few slower growth peers trading at >30x, further upside looks attainable with our bull case now $179,” the analyst added.
Draftkings Pa Sportsbook
Wall Street analysts are cautiously optimistic about the stock and the consensus is a Moderate Buy with 13 analysts recommending a Buy, 5 analysts suggesting a Hold, and one analyst recommending a Sell. The average price target of $63.89 implies 21.6% upside potential to current levels. Shares have jumped by 22.2% in the past three months.
Draftkings Sportsbook States Pa
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