- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
DraftKings CEO Weighs in on Trading vs Gambling Argument
DraftKings CEO Johnson Robins has discussed the potential of mobile betting, the Robinhood saga, and pent-up demand for sports with CNBC’s Power Launch host.
Robins Says Trading and Gambling Are Different Products
Last week, DraftKings CEO Johnson Robins spoke to CNBC’s Power Lunch and discussed whether the recent trading saga with GameStop has made more people inclined to equate trading with gambling. In essence, the host asked whether Robins saw Robinhood as a competitor.
“I don’t see them as a competitor,” Robins responded right away. Robins did acknowledge that there are similar dynamics, but only to the extent where personal use outweighed intended purpose.
If someone treats trading like a form of gambling, this is not inherent proof that trading is gambling. “We don’t see it as competition,” the CEO reiterated, arguing that trading and gambling are two completely separate products.
Robins also took a question about whether the pandemic had driven stronger-than-usual results and whether the fact that people had disposable income and few entertainment options had contributed to DraftKings’ recent buoyancy in terms of finances.
The chief executive explained that this had been factored in and that at the most recent earnings call, everyone did exercise a bit of conservatism in terms of guidance and outlook for the next financial year.
Pinpointing the Growth Dynamics in Sports Gambling
“There may be some softening of the tailwind,” Robins said and continued to explain that it was hard to determine what drove the momentum. He said that the company and the industry, in general, had taught how to optimize and market what he called a “hard-marketing product.”
And yes, Robins did say that his company and he acknowledged that a “good chunk of it was coming from this pent-up demand with no sports in Q2,” and of course, acknowledging that leisurely expenditures such as dining out and traveling had gone down.
The host did ask another interesting question touching on mobile sports’ nature and citing Illinois’ recent expansion to remote, mobile signup as a guiding point. She specifically asked Robins what his advice would be to states that are only now considering the legalization of sports betting – some 20 according to the host – about the potential of mobile betting.
“The vast majority of the betting handle is generated on mobile,” Robins said, even before the pandemic. States are now noticing that, and every state that is now considering sports betting acknowledge the importance of bringing mobile products online, Robins added.
Related Topics:
Mike made his mark on the industry at a young age, consulting for companies that would later become regulators. As one of the lead editor of Gambling News, he dedicates his weekdays to this project, aiming to educate the masses on the latest developments in the gambling circuit. His expertise and passion for the industry make him an invaluable asset to our team.
Previous Article
Business
February 28, 2021
FAI Executive Jonathan Hill Rules Out Gambling Sponsorships
Next Article
Business
February 28, 2021
UpickTrade Dropped as Vegas Golden Knights Predictions Partner
Must Read
Business
September 12, 2025
Webis Holdings Forms Strategic Partnership with XST Capital Group
Business
September 12, 2025
Flutter Names Stefan Bomhard Non-Executive Director
More Articles
Industry
September 18, 2025
Canadians Less Likely than Americans to Bet on Sports, Study Shows
Casino
September 18, 2025
Wynn UAE Casino to Feature Crypto Payments & More
Poker
September 18, 2025
Kalshi Secures Daniel Negreanu as Its New Brand Ambassador
Casino
September 18, 2025
Poker Palace in North Las Vegas to Open Its Doors Again in 2026
Casino
September 18, 2025
Times Square Casino Plan Falls Through Due to Broadway Opposition
Casino
September 18, 2025
Tourist in Las Vegas Shot by a Security Guard Armed Without Authorization
Casino
September 18, 2025
Ex-Gregg Township Official Jailed for $533K Gambling Embezzlement
Sports
September 17, 2025
Missouri Is Bracing for Sports Gambling – And Addiction
Casino
September 17, 2025
Melco Plans Private Hospital at Macau’s Studio City
Casino
September 17, 2025
New Jersey Takes Steps Toward Tougher Responsible Gambling Rules
Casino
September 17, 2025
Las Vegas Starts Big Sales Push to Fight Tourism Slump
Lottery
September 17, 2025
$600K Monopoly Winner in NC Gets “Best Birthday Present Ever”
Casino
September 17, 2025
SGLA and SPGA Merge to Create “Clear and Consistent Voice”