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DraftKings has launched a massive ad campaign to market its predictions market platform across large states where online sports betting is still illegal or limited. The campaign targets California, Texas, and Georgia, where sports betting is still illegal, as well as Florida, where sports betting is only legal under an exclusive compact with the Seminole Indians and Hard Rock Bet.
Get $200 in Bonuses Paid Over 21 Days
DraftKings is Now Available Nationwide
Browse Markets like Sports, Crypto, Tech & More
Get $200 in Bonuses Paid Over 21 Days
DraftKings is Now Available Nationwide
Browse Markets like Sports, Crypto, Tech & More
Strategic timing for user acquisition
Interestingly, the ad campaign kicked off exactly two weeks before the start of the NFL. The timing is strategic, as DraftKings is seeking to maximize user acquisition across these four states with huge populations. Notably, the ads market the prediction platforms as “Now Available” in each of the four states.
Indeed, the ads highlight an exclusive welcome bonus designed to entice potential users. New users get $200 in bonus credits after joining the platform and making an initial trade of at least $5. Notably, the bonus credits are non-withdrawable and can only be used to trade contracts across the available markets, including sports, pop culture, and financials.
While the campaign has focused on those four states, DraftKings Predictions is actually live across 48 states. However, contract types vary between different states, with 12 states featuring financial markets contracts only, 18 states and D.C. featuring non-sports contracts only, and 18 other states featuring all contracts, including sports and non-sports. Notably, users in California and Texas have access to the full catalogue, including sports contracts.
All set and ready
DraftKings has everything needed to run a prediction market platform without relying on third parties. Notably, it is the only sports betting operator to own all three key lawyers of prediction markets, including the brokerage, exchange, and market maker.
The proprietary exchange platform, DKeX, launched in June, allowing the platform to route trades through its own infrastructure. However, it is worth noting that volume on DKeX is still low, with the operator choosing to route most trades via Crypto.com and CME. It is expected that DraftKings will funnel more traffic to DKeX once the football season begins.
Aldrin Research first broke the news via a post on X, which reads, “New DraftKings state-specific ads went live in the past 24 hours across California, Florida, Georgia, and Texas, offering new customers $200 after a $5 first trade. The fine print explicitly mentions ‘Event Contract Trading is offered by DraftKings Predictions, a CFTC-registered Futures Commission Merchant and NFA member.’”
