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NEWS 20 May 2019

DraftKings exec addresses industry debate: We encourage competition

By Tim Poole

Greg Karamitis, SVP of Fantasy Sports at DraftKings, speaks exclusively to Gambling Insider about the daily fantasy sports (DFS) operator’s new Arena Football League (AFL) product.

With industry analysts already asking if DraftKings and FanDuel can be caught in the US sports betting market, we also asked the exec for his take on one of the industry's current hot topics.

What makes DraftKings’ new product stand out in the market?

DraftKings is the first and only platform to offer AFL DFS contests. With the AFL expanding its presence from four to six teams in 2019, DraftKings’ data capabilities will source game and player information at every moment of play for fans to leverage in their daily fantasy selections. Customers can enjoy special DraftKings Classic and Showdown modes for AFL contests, constructing line-ups of six players while staying within a $50,000 salary cap range and designating a “captain” slot granting one player a bonus multiplier. Classic contests will require selecting players from more than one game, while Showdown contests must include players from each team.

Of the 12 different DFS categories DraftKings now offers, which attracts the most consumer activity and provides the most revenue?

The NFL category generates the greatest number of individual DFS consumers; that said, we see extremely strong user engagement across a number of core sports, particularly NFL, MLB, NBA and golf.

How heavily does fantasy feature in DraftKings' long-term plans; do you see sports betting taking over as the main vertical in the future?

Fantasy sports and traditional sports wagering have co-existed since fantasy sports was invented. Daily fantasy currently remains our core product and we will continue innovating and iterating on our platform through new sports and new ways to play a sport. We are confident over time DraftKings Sportsbook will be available in more states as legislative and regulatory initiatives develop. 

How are resources within the product department split between fantasy and sports betting?

Our fantasy and sports betting teams are fluid, with many of our employees refining and revamping both offerings. That said, we do have specific resources devoted to each of these distinct verticals, as well.

What do you make of industry analysts already raising the issue of whether the rest of the market can catch DraftKings and FanDuel in sports betting?

We encourage competition as it is beneficial for DraftKings as well as the entire market; it spurs innovation, which ultimately leads to a better customer experience.

RELATED TAGS: Online | Sports Betting | Industry
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