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Legal
January 24, 2025
DraftKings Faces Legal Challenge over Alleged Player Exploitation
Leading US online sports wagering company DraftKings faces another class-action lawsuit. This newest legal challenge, filed in the Southern District of New York and spearheaded by Clara De Leon and Eric W. Mirsberger Jr., accuses DraftKings and its subsidiary Crown NY Gaming LLC of deceptive advertising and consumer manipulation. The Operator Allegedly Offered Misleading Bonuses […]
Business
January 16, 2025
Maryland Tax Rate Increase May Impact DraftKings, FanDuel
Amid plans for a tax hike in Maryland, two analysts explored the potential impact increasing the tax rate may have on the gambling sector. Proposal in Maryland Seeks to Raise Table Games and Betting Taxes Earlier this week, Gov. Wes Moore uncovered a new proposal calling for an increase in the tax rate on gambling […]
Sports
January 10, 2025
Delta Air Lines and DraftKings Announce Collaboration at CES 2025
Delta Air Lines and DraftKings have joined forces catching the eye of people in both the flight and betting worlds. Delta Air Lines Teams Up with DraftKings to Enhance In-Flight Entertainment Experience Delta CEO Ed Bastian broke the news during his main speech at CES 2025 in Las Vegas. Bastian stressed that Delta wants to […]
Legal
January 9, 2025
DraftKings Takes Heat Over “Free Bet” Promotional Language
DraftKings is now facing three class-action lawsuits filed against the company because of what is alleged to be unfair and misleading promotional practices. The lawsuits specifically name the language used by the sportsbook in describing its promotions. DraftKings “Risk-Free” Promotions Targeted in New Lawsuit Wordings such as “no sweat first bets” are seen as misleading […]
Business
January 7, 2025
M&A Activity Is on the Table for DraftKings in 2025, Deutsche Bank Says
Deutsche Bank analyst Carlo Santarelli has suggested that mergers and acquisitions would be a likely strategy for American betting powerhouse DraftKings in 2025. This comes amid suboptimal Wall Street projections for the company’s performance. DraftKings Might Struggle to Hit the Mark As reported by CDC Gaming Reports, Santarelli said that at the midpoint of DraftKings’ […]
Industry
January 6, 2025
DraftKings Unleashes New Subscription Service, Powers NY Bettors with Increased Odds
American sports betting juggernaut DraftKings has released a new service that would provide players with increased odds for parlay wagers. The bigger the parlay, the bigger the payout. DraftKings Sportsbook+ Hits The Big Apple The so-called DraftKings Sportsbook+ service launched in the state of New York earlier this week, allowing the company to bolster the […]
Business
January 6, 2025
DraftKings Hit by Q4 Losses, But Long-Term Growth Stays on Track
DraftKings, a big name in the US online sports betting and gaming scene, ran into some snags in the fourth quarter of 2024 because of unpredicted sports results. A January 2 note from JPMorgan analyst Joseph Greff pointed out that the company saw a big drop in revenue as betting favorites and multi-game parlays did […]
Business
January 2, 2025
DraftKings Shares Underperform amid Insider Selling
DraftKings Inc. had a tough December, with its shares falling 10.62% over the last month. This underperformance contrasts the broader market, with the Consumer Discretionary sector down just 0.11% and the S&P 500 Index up 0.4%. Retail investors are also unhappy due to 2024’s significant insider stock selling, which did not help DraftKinds’ shares. DraftKings […]
Legal
December 27, 2024
DraftKings Settles Dispute with Ex-Executive Over Fanatics Move
DraftKings has ended its legal fight with Michael Hermalyn, a former executive who faced accusations of breaking non-compete clauses and stealing trade secrets when he jumped ship to join Fanatics. The deal closes lawsuits filed in Massachusetts and California, which focused on Hermalyn’s switch to the competing company in early 2024. Hermalyn’s Transition to Fanatics […]
Legal
December 26, 2024
DraftKings Faces Legal Action over Alleged Unlawful Account Deactivations
DraftKings Inc., a prominent name in online sports betting, is now the target of a class-action lawsuit filed in the US District Court for the District of Massachusetts. Plaintiffs accuse the operator of allegedly defrauding customers by unlawfully deactivating user accounts and retaining their balances, potentially exposing a widespread issue within the company’s operations. The […]