Robins: ‘We want to be known as innovative’
The DraftKings CEO affirmed the current sports betting market, noting its quality products compared to predictions markets.
Key Points
- Robins offered a comparison between what companies like DraftKings have to offer sports wagering players and what they can access with predictions market activities
- He is confident predictions markets will not gain an edge over regulated sports betting
This week at G2E’s 25th anniversary conference, DraftKings CEO Jason Robins weighed in on the topic of predictions markets and if they could potentially affect the current US sports betting industry during a keynote address.
What sports betting markets have to offer customers is “so much stronger” than what prediction markets can do, Robins said.
“We are so much more tightly regulated than any other place you can spend your money in the world,” the CEO said.
When asked if predictions betting could possibly gain an edge over regulated sports wagering, Robins was confident the sports betting market would prevail.
Robins commented, “I just don’t see a world where people are going to prefer that (predictions markets).”
However, Robins said he wanted to pass on the question of where he lands on the issue of whether sweepstakes casinos and predictions markets should be illegal.
When the topic turned to legal sports betting and if he is concerned the market could go away because of illegal activity, Robins said this possibility was dubious.
He cited the current trends and how sports betting is legal in many states around the US.
Good to know: Since the US Supreme Court overturned PASPA more than seven years ago, 39 states have legalized sports wagering
Along with discussing current betting trends around the United States, Robins shared some company updates and the forward focus for DraftKings.
According to Robins, live betting “has been a huge thing” for the company. However, DraftKings aims to continue growing withing the market.
“We want to be known as innovative,” Robins said.
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