DraftKings adding extra juice to winning bets in 2025 for some states

[Crusherrr]

If it hasn't been abundantly clear already, let it be said that most people who work in DK's corporate office have never actually placed a wager in their lives.

Let it also be said that they don't even want to HIRE someone who's been on the other side to advise them.

[dhristov211]

Let it also be said that they don't even want to HIRE someone who's been on the other side to advise them.

It's because they can pay lobbyists and bend the laws each and every way they would like to.

Why consult sharp players, if A) DK isn't interested in sharp action and B) DK is interested in average players who want entertainment and will do the same thing, year after year, like alcoholics, and just get cirrhosis lose...?

[tennelson55]

"BetRivers became the first operator to publicly declare it will not be implementing a tax surcharge on winning sports bets, just four days after DraftKings revealed its new plan to do so across four states in 2025.3 days ago"

DK controls the market...

[str]

DK controls the market...

The people actually control the market in almost everything but are not aware of it.
Interest rates, food prices, you name it. Supply and Demand. Demand runs it all and the people are those that control it.
Divide and conquer.

[Optional]

I suspect DK might have thought they were shaming the states bumping up tax to an unreasonable level.

Not really working that way if it was the plan.

[jobie]

Will be interesting to see if FD will copy the ill advised DK surcharge. FD's parent Flutter announces their earnings today and presumably any equity research analyst worth their weight will address the question at the earnings call later today.

[texhooper]

DraftKings has announced they are no longer doing this. Praise Jesus in the Heavens above

[Optional]

DraftKings has announced they are no longer doing this. Praise Jesus in the Heavens above

CEO stepped on CFO?

[texhooper]

CEO stepped on CFO?

Who knows. It was wildly unpopular so not super surprising, but honestly I’m kinda surprised they didn’t at least try it out in those four states and see what happened.


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">DraftKings Statement on Gaming Tax Surcharge <a href="https://t.co/cucbsQJIVD">pic.twitter.com/cucbsQJIVD</a></p>&mdash; DraftKings News (@DraftKingsNews) <a href="https://twitter.com/DraftKingsNews/status/1823480779206480300?ref_src=twsrc%5Etfw" >August 13, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

[stevenash]

CEO stepped on CFO?

I think so.

DK is Jason Robins vision, he created it.
You would think Robins would have the final say in all matters.

[Reload]

Didn’t take long for DK to reverse course on this idea. They thought they were big time enough to change where the bar was and it’s not going to happen. Rest of the industry spoke loud and clear.

[BOA12]

The people actually control the market in almost everything but are not aware of it.
Interest rates, food prices, you name it. Supply and Demand. Demand runs it all and the people are those that control it.
Divide and conquer.

This.

[Optional]

Start at the 21 min mark'

[kyhawk]

I think the majority of their players are newbies who don't give a fuk and play parlays.

Not a place to play for sharp players at anytime anyway.

[dens105]

With the amount of revenue they make they could of easily offset it and remain competitive in their offerings.... greed hits fast but not for long.

[Optional]

With the amount of revenue they make they could of easily offset it and remain competitive in their offerings.... greed hits fast but not for long.

Draftkings had an operating loss of over 800 million for 2023.

They spent $1600 in marketing per new customer.

Fanduel loses even more.

Any book trying to operate a sustainable model is blasted out of the water.