March Madness was a huge payday for legal online sportsbooks—but even more so for illegal platforms, which attracted $4.3 billion in bets [Yahoo! Finance]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance
wagers, according to new data from gambling market intelligence firm Yield Sec. Ever since the Supreme Court legalized sports gambling in 2018 , sportsbooks such as DraftKings and Caesars have raced into the $120 billion domestic market But illegal bets still dwarf gambling on licensed platforms. Yield Sec's study shows that almost twice as much money—$4.3 billion—was wagered on the March Madness tournament illegally. “If you can control this and run this business correctly, substantial good can flow from it. The problem is when it's not run correctly, and [we've seen] how badly things can go, then there's irresponsible gaming,” Yield Sec CEO Ismail Vali told Fortune. Legal sports betting generated around $2 billion in tax revenue nationwide last year, per Census data . But when consumers place bets illegally, states miss out on tax revenue they would have earned from bets placed through licensed operators. Online advertising makes it easier for illegal operators to target con
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- DraftKings (DKNG) to Report Q1 Earnings: What's in Store? [Yahoo! Finance]Yahoo! Finance
- DraftKings Inc. (NASDAQ: DKNG) had its price target raised by analysts at Susquehanna from $54.00 to $56.00. They now have a "positive" rating on the stock.MarketBeat
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- Business Insider logo [Business Insider]Business Insider
DKNG
Earnings
- 2/15/24 - Beat
DKNG
Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- DKNG's page on the SEC website