DraftKings Reveals Bet Vision: Tech Enhancements Insight

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00:00 (upbeat music)

00:02 DraftKings launching a few things.

00:05 Jason Robbins obviously sat down for an interview.

00:09 A couple of things.

00:10 Yeah, they've been seemingly slow

00:13 to embrace technology regarding streaming

00:17 and Genius Sports live streaming

00:19 and betting product, BetVision.

00:20 It's where you're in the app watching live games.

00:23 They have not yet launched that,

00:25 but he sees it as just one of many things

00:28 that are in their technological roadmap.

00:30 Yeah, it was interesting.

00:34 And it was obvious that BetVision would come up, right?

00:37 Because it's such a,

00:39 it is a game-changing product when you think about it.

00:41 Remember, BetVision is from Genius Sports.

00:44 And basically what it does is it lets you stream NFL games

00:47 within the app, and then they're still building it out.

00:50 But eventually the end game will be

00:53 that you can place your bets

00:55 right from that streaming screen.

00:56 You don't have to leave it.

00:58 You won't have to do anything special.

00:59 You can just bet live in-game right from the screen,

01:03 make it a very, cut down on the friction of the transaction.

01:07 That's always something that sports books are trying to do,

01:11 be frictionless.

01:12 And so when DraftKings isn't signed up for it,

01:15 and it's notable because you have BetRivers,

01:18 you have Caesars, you have Fanatics,

01:19 and you have FanDuel that are signed up for it.

01:21 So you have some pretty big opponents of DraftKings

01:24 that are getting into it.

01:25 And Jason Robbins said, "Look, we're looking at it,

01:28 but we just had a whole bunch of other things to do."

01:31 He said, "There's no reason other than we had 10

01:33 other good things that beat it to the cut.

01:36 That's a good place to be, I think."

01:37 And he's right.

01:38 I mean, when you are doing as much as DraftKings

01:40 is doing behind the scenes now,

01:42 they're finally getting their business to turn a profit,

01:46 and now they're working on keeping that profit.

01:48 And they're really putting a lot of work

01:50 in behind the scenes.

01:51 And one of those things that they're working on

01:54 and about to roll it out are those progressive parlays.

01:57 Robbins, they were just announced

02:00 at the Investor Day last month.

02:02 Robbins says they're weeks away at this point.

02:04 And the progressive parlays are interesting.

02:07 If anyone's unfamiliar with them,

02:09 this will give you a chance to still win some legs

02:12 of your parlay, even if some others do not win.

02:17 It's a popular feature right now

02:19 with some of the daily fantasy sports companies

02:22 that are offering these prop-like DFS contests,

02:25 which are being banned in some states

02:27 because of how closely they mimic sports betting.

02:31 So DraftKings is coming out with it themselves.

02:35 I think that is probably gonna be something

02:39 that people go to DraftKings to check out

02:41 if they're not already using DraftKings.

02:44 And Jason said, "Look, it's great for us.

02:47 It gives customers a new way to bet

02:49 while they could still chase that big jackpot,

02:52 but there are a couple of consolation prizes

02:54 in there for them."

02:55 And he said, "And for the house, it's great

02:56 because parlays are always pretty good

02:59 when it comes to margin."

03:01 Another interesting thing he said,

03:04 we saw that Unibet is leaving North America

03:07 and he was asked about the operator landscape

03:09 and what it looks like for the smaller operators.

03:12 And Jason said that he thinks there's always going

03:15 to be other operators out there for choice.

03:18 But when you start to think about

03:19 some of these smaller companies

03:21 and they have to deal with the fact

03:24 that the bigger companies like a DraftKings

03:26 are investing more in their product,

03:28 they're seeing more cashflow,

03:30 they're getting better value out of their customers

03:32 and they're acquiring customers for cheaper.

03:35 He basically said, "It has a lot to deal with

03:37 for a smaller company,

03:39 especially if they aren't under the umbrella

03:41 of a larger company that can kind of carry those losses

03:44 for a little bit."

03:45 So yeah, on the DraftKings investor relations page,

03:48 obviously we have a story about it on Legal Sports Report,

03:51 but really interesting back and forth with Jason

03:53 to hear about a couple of things going on

03:54 with DraftKings right now.

03:56 (upbeat music)

03:58 (bells chiming)

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