DraftKings, one of the nation’s premier sports betting providers, announced its intentions to launch in North Carolina on Thursday in its second-quarter earnings news release.
In the release, DraftKings laid out the path ahead for its expansion of online sports betting in the US:
“Kentucky, North Carolina, Vermont, and Puerto Rico have authorized mobile sports betting and collectively represent approximately 6% of the U.S. population,” the news release said. “DraftKings expects to launch its Sportsbook product in Kentucky on September 28, 2023, as well as in North Carolina, Vermont, and Puerto Rico, in each case pending licensure and regulatory approvals as well as securing market access in North Carolina and Vermont.”
The launch window for North Carolina sports betting runs from Jan. 8 to June 14, 2024. The North Carolina Lottery Commission, the regulator of the industry, is in the early stages of setting up licensure parameters for companies such as DraftKings.
DraftKings Q2 key notes
During the second quarter of 2023, the sportsbook giant reported revenue of $875 million, an 88% increase from the $466 million in revenue earned for Q2 in 2022.
DraftKings shared that this was largely due to its “healthy customer retention and engagement, efficient acquisition of new customers, product innovation leading to increased parlay mix and thus higher hold percentage, and improved promotional intensity.”
Jason Robins, DraftKings’ chief executive officer, shared that “DraftKings produced outstanding results for the second quarter of 2023. We grew revenue at an impressive year-over-year rate, captured additional [gross gaming revenue] share in a cost-effective manner, and maintained our focus on operational efficiency.”
Robins also shared in the DraftKings news release his look ahead to Kentucky’s launch, stating, “We are excited by the additional product features and functionality that we are introducing leading into football season and also look forward to another successful online sportsbook launch in Kentucky this fall pending licensure and regulatory approvals.”
DraftKings Customer Numbers
- Monthly unique players in Q2 were about 2.1 million per month, a 44% increase from the second quarter of 2022.
- The average revenue per unique player in Q2 was $137, a 33% increase from that statistic in Q2 of 2022.
The news release cited expansion of products in online sports betting and online gaming, as well as strong player retention, as reasons for the unique player growth in Q2 2023. It also indicated that higher hold rates and lower promotional spending led to increased revenue growth in 2023.
Expanding DraftKings’ footprint into North Carolina and beyond
DraftKings’ legal operating footprint covers 44% of the US, which could be over 50% by 2024. The sportsbook operator intends to launch in Kentucky on Sept. 28. Their intentions to apply for licensure in North Carolina, Vermont and Puerto Rico will also give them access to an additional “6% of the U.S. population.”
As one of the top operators in the American sportsbook marketplace, future North Carolina bettors should be pleased to know that DraftKings plans to come to the Tar Heel state. Not only does DraftKings have some of the most competitive odds, but they are known for being one of the top operators for sportsbook promotions (Stay informed about the latest sports betting offers in our best NC sportsbook promos guide). DraftKings has also increased its footprint in NASCAR, in which NCSharp expects North Carolina to be a sports-betting leader.
That combined with its world-class customer service and operating platform makes DraftKings’ availability at the NC sports betting launch an excellent option for North Carolina bettors.
Image Credit: Charles Krupa / AP photo