DraftKings to Launch Shared Wallet for Betting in 2024

Watch DraftKings to Launch Shared Wallet for Betting in 2024 - SportsGrid on Dailymotion

Transcript

00:00What is this the latest on this shared wallet?

00:06I know that you have brought it up before.

00:07We probably should explain people what that could potentially mean for

00:10people who are betting on horse racing and especially doing it on

00:14draft Kings.

00:14They may not be used to that.

00:15Yeah, for sure.

00:17Craig and what the shared wallet is it allows you to deposit once and

00:22use the same funds across all three of the the main verticals that the

00:27sports books in, you know, obviously where it's legal that they offer.

00:32So sports betting horse racing and online casino DraftKings has been

00:37working on that shared wallet technology for for over a year now based

00:42on my conversations with with the DraftKings executives over the last

00:46several weeks and months and they plan to roll that out in the first

00:49half of next year spring to early summer.

00:53I was told that that shared wallet will be rolled out across the

00:57DraftKings properties.

00:58FanDuel is the only online sports book to offer that shared wallet right

01:04now across its sports betting and horse racing platforms.

01:08And we've seen just how successful that extra bit of technology has

01:13been for FanDuel.

01:14They touted record number of dollars bet through the Triple Crown with

01:20the Kentucky Derby, Preakness and the Belmont legal sports betting in

01:26Kentucky certainly helped elevate and boost those handle figures that

01:31we saw with the Kentucky Derby.

01:32So DraftKings now is planning to to roll that out in the first six

01:39months of next year.

01:41DraftKings did tell me that they were the most popular app, the most

01:45downloaded app on Kentucky Derby Day.

01:47They made a heavy investment with the New York Racing Association to

01:51sponsor a couple of races up here this past summer, which they told me

01:56provided a big boost in handle.

01:58They didn't give me any exact dollar amounts, but they did say that that

02:03promotional effort that marketing effort did pay dividends for them.

02:07So they're expecting this shared wallet that ease of use deposit once and

02:12have that ability to use the same funds across all of the different

02:14verticals.

02:15They do expect that to be a big boost in business and in handle across

02:20those platforms for them.

02:22And we'll see that in the next six or nine months.