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This Week in Gambling: DraftKings said what about sports betting and players?

9 December 2021

This week's gambling news is a bit of a surprise, as the CEO of DraftKings has said that players who bet for profit are “not the kind of players” his company wants. What would prompt such a provocative statement? Well, his comments came amid discussion on New York's 51% sports betting tax, and how that tax could make it difficult for operators to be profitable in the state.

We all know that there will be a ridiculously high tax on New York mobile betting. And now, the CEO of DraftKings, Jason Robins, has made an interesting statement on the issue. It is being reported that Robins believes the 51% tax rate will not be a problem for the company. While speaking on the Canaccord Genuity 2021 Digital Gaming Summit virtual event, he plainly said that players who bet for profit are “not the kind of players” DraftKings wants.

What Robins seems to be saying is that the exorbitant tax rate set by the state will not a problem because DraftKings does not want players who will bet to win. But doesn’t every player making a bet hope to win? We understand that what Mr. Robins actually means is probably that DraftKings wants recreational players and not professional gamblers. However, that does not diminish the glaringly obvious undertones of his statement. That is: The only way DraftKings will be profitable in New York is to cater to and deal with novice players who consistently lose money.

So now, New York mobile betting seems like it will have to be an entertainment driven market focused on casual players. But how exactly will DraftKings and others accomplish that? Will the odds be so horrendous that no serious gamblers will participate? Will accounts be locked if a player wins too frequently? Will certain players be banned because they are deemed to be “professionals”? This could become a real sticky mess.



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This Week in Gambling: DraftKings said what about sports betting and players? is republished from Online.CasinoCity.com.