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)