DraftKings

Company History and Expansion

DraftKings was founded in 2012 by former Vistaprint employees Jason Robins, Matthew Kalish, and Paul Liberman, initially operating out of Liberman's house. The company's first product was a one-on-one daily fantasy baseball contest launched to coincide with Major League Baseball's 2012 opening day. Early growth was rapid, with the company reporting one million registered players and awarding $50 million in prizes by February 2014. A significant early milestone came in April 2013 when Major League Baseball became the first US professional sports league to invest in DraftKings. The company expanded through acquisitions, purchasing rival DraftStreet in July 2014 and the assets of competitor StarStreet in August 2014, which increased its user base by 50 percent.

DraftKings secured major partnerships with professional sports leagues, becoming the official daily fantasy sports partner of the National Hockey League in November 2014 and of Major League Baseball in April 2015. These deals included co-branded games and in-stadium advertising. The company also entered a high-profile three-year advertising deal with ESPN valued at $250 million in July 2015, though ESPN later backed out in February 2016 due to legal uncertainties surrounding daily fantasy sports. DraftKings began its international expansion in August 2015 by securing a license from the United Kingdom Gambling Commission, officially launching daily fantasy soccer there in February 2016. A proposed merger with rival FanDuel was announced in November 2016 but was called off in July 2017 after the US Federal Trade Commission moved to block it on antitrust grounds, arguing the combined entity would control 90 percent of the US daily fantasy sports market.

The landscape for DraftKings changed fundamentally in May 2018 when the US Supreme Court overturned the Professional and Amateur Sports Protection Act, allowing states to legalize sports betting. DraftKings launched its first legal online sportsbook in New Jersey in August 2018, marking its pivot from a pure fantasy sports company to a full-scale sports betting operator. To fuel further expansion, DraftKings became a publicly traded company in April 2020 through a reverse merger with special-purpose acquisition company Diamond Eagle Acquisition Corp and sports betting technology provider SBTech, in a deal valued at $3.3 billion. The company's shares began trading on the Nasdaq under the ticker symbol DKNG. Since going public, DraftKings has pursued an aggressive acquisition strategy, buying the Vegas Stats & Information Network media platform in March 2021, Golden Nugget Online Gaming in May 2022, and lottery courier app Jackpocket for $750 million in February 2024. DraftKings sold VSiN back to the Musburger family in July 2024.

Operations in Canada

DraftKings operates legally in the Canadian province of Ontario under agreements with its regulatory bodies. In Ontario, the company launched its online casino on May 18, 2022, following the province's regulated iGaming market going live in April 2022. The Ontario operation is licensed by the Alcohol and Gaming Commission of Ontario and iGaming Ontario. A single login provides access to DraftKings Casino, the sportsbook, and the DraftKings Rewards program. The company has announced its intent to launch in Alberta, pending final regulatory approval from the Alberta Gaming, Liquor and Cannabis Commission. DraftKings is not available in any other Canadian provinces or territories.

The DraftKings platform in Canada offers a full suite of betting products tailored to the local market. Canadian users have access to the sportsbook for wagering on major leagues like the NHL, NBA, MLB, and NFL, as well as Canadian football leagues and other sports. The online casino features thousands of games, including slots, table games, and live dealer options. DraftKings also integrates its daily fantasy sports product for eligible users. The legal age for gambling on the platform is 19 years or older in Ontario. The company emphasizes that its services are only for adults located within the legal jurisdiction of Ontario.

DraftKings Casino Ontario has a library of over 5,000 games, with a notable section of more than 170 titles marked as platform exclusives. The casino features an in-house progressive jackpot system called DraftKings Jackpots, which players can opt into for an additional small stake per spin. The platform is accessible via web browser and dedicated mobile apps, providing a consistent experience across devices. For sports bettors, the platform offers standard bets like moneylines, spreads, and totals, along with player props, same-game parlays, and live betting markets. The casino's exclusive games include original titles like Celtic Gold and popular live game shows such as Crazy Time.

Products and Betting Features

DraftKings provides a comprehensive ecosystem of betting and gaming products, primarily through its sportsbook, daily fantasy sports contests, and online casino. The sportsbook allows users to place wagers on a wide array of sporting events, from major North American leagues to international soccer, golf, tennis, and more. Key bet types include moneylines, point spreads, totals (over/under), parlays, and proposition bets on individual player performances. The platform is known for its extensive offering of player props and same-game parlays, which are popular for NFL and NBA games. DraftKings also offers live, in-play betting where odds update in real time during events, accompanied for some sports by live streaming video directly within the app.

The daily fantasy sports product, the company's original offering, allows users to assemble virtual teams of real players within a salary cap and compete in contests based on the statistical performance of those players in actual games. DraftKings also operates prediction markets through its DraftKings Predictions platform, launched in December 2025, which lets users trade contracts tied to the outcomes of sporting events and other real-world occurrences. The online casino, available in legal jurisdictions, features a vast library of digital games including slots, table games, and live dealer options from numerous software providers. The company runs frequent promotions like odds boosts and hosts contests such as NBA King of the Court, where players who wager on the top performer of the night split a jackpot of bonus bets.

DraftKings incorporates several social and user-experience features to engage its customer base. Users can share bets with friends, tail the bets of other users, and participate in community events via platforms like Discord. In June 2025, DraftKings introduced a My Budget Builder tool, allowing players to set personal betting limits as a responsible gambling measure. The platform's features are designed to cater to both novice and experienced bettors, with pre-built parlay options for major events and a user interface that simplifies bet placement. The core products available to users include the following list of major offerings.

• Sportsbook: Wagering on live sports via moneylines, spreads, totals, props, and parlays.
• Daily Fantasy Sports (DFS): Salary-cap style contests based on real player performance.
• Online Casino: Digital slots, table games, live dealer games, and exclusive titles.
• Prediction Markets (DraftKings Predictions): Trading contracts on event outcomes.
• Live Betting & Streaming: In-play wagering with live odds and integrated video streams.
• Social Features: Bet sharing, tailing, and community voting on promotions.

Partnerships and Market Position

DraftKings has cemented its market position through strategic partnerships with major sports leagues, teams, and media companies. Its early deals with the NHL and MLB as an official daily fantasy partner were groundbreaking. The company's relationship with ESPN has been particularly significant, evolving from a $250 million advertising deal in 2015 to a comprehensive partnership announced in November 2025, making DraftKings the official sports betting and odds provider for ESPN's platforms effective December 1, 2025. This agreement followed ESPN's decision to unwind its previous partnership with Penn Entertainment on ESPN Bet. DraftKings has also invested in content, agreeing in 2021 to pay at least $50 million over three years to distribute a sports and pop-culture podcast hosted by Dan Le Batard.

As of December 2025, DraftKings Sportsbook is legally operational in 26 US states and the District of Columbia, in addition to its presence in Ontario, Canada. The company was a founding operator in several newly legalized markets, including North Carolina in early 2024. DraftKings is widely considered one of the market share leaders in the US online sports betting economy alongside FanDuel. The company's financial scale is substantial, reporting revenue of $1.39 billion for the fourth quarter of 2024, a 13 percent year-over-year increase, though it also reported a net loss of $200 million for that quarter. The table below outlines some of its key historical partnerships.

Legal and Regulatory Challenges

DraftKings has faced numerous legal and regulatory challenges throughout its history. In October 2015, the company was scrutinized after an employee inadvertently released data and won a large sum on a rival site, prompting an inquiry by the New York attorney general. DraftKings and FanDuel each paid $1.3 million in 2017 to settle with the Massachusetts Attorney General over allegations of unfair and deceptive practices prior to 2016. The company's 2020 reverse merger brought attention to its technology partner SBTech, with a short-seller report alleging SBTech had historical ties to organized crime in Bulgaria. In May 2016, the Idaho attorney general banned DraftKings from operating in the state, calling it illegal gambling.

More recently, DraftKings has been the subject of several lawsuits and regulatory actions. In December 2024, a lawsuit was filed by the family of a gambler alleging DraftKings encouraged a known problem gambler's addiction, leading to losses over $900,000. That same month, a class action in New York alleged the company unlawfully shared users' personal information with third parties via the Facebook pixel tracking tool. Another class action in Massachusetts alleged DraftKings fraudulently closed user accounts and withheld balances. In April 2025, the city of Baltimore sued DraftKings and FanDuel, alleging deceptive practices that targeted vulnerable gamblers. A class action was also filed in Pennsylvania in May 2025 citing deceptive promotions.

Regulatory bodies have also taken action. In September 2023, DraftKings suspended credit card payments following penalties from the Massachusetts Gaming Commission for violations in 2023 and 2024. The US Securities and Exchange Commission fined DraftKings $200,000 in September 2024 for violating fair disclosure rules after material information was shared on the CEO's social media before an official earnings release. In July 2026, a former DraftKings sports trader was criminally charged in Nevada over an alleged betting scheme. A 2026 investigative report by ProPublica found that DraftKings' platform encouraged compulsive gambling behaviour. In July 2026, DraftKings filed a lawsuit to halt a city of Philadelphia investigation into its sportsbook and online casino.

Corporate and Political Activity

DraftKings engages actively in political lobbying and campaign finance to influence gambling legislation. In 2024, the company spent $420,000 on political lobbying. It donated $502,000 to Donald Trump's 2025 inaugural committee. As part of its structured political strategy, DraftKings established a corporate political action committee, DraftKings PAC, in June 2025, filing with the Federal Election Commission to support state and federal candidates aligned with its business interests. By August 2026, the organization had spent $34.8 million in the 2026 United States elections, primarily contributing to the pro-gambling super PAC Win for America. This significant spending highlights the company's focus on shaping a regulatory environment favourable to the expansion of legal sports betting and iGaming.

Internally, DraftKings has made several executive and strategic moves to guide its growth. Retired NBA legend Michael Jordan became an investor and special advisor to the board in September 2020, lending his brand and business acumen to the company. To manage its expansion and regulatory hurdles, DraftKings secured a $500 million loan in late 2024. The company also continues to acquire complementary businesses, announcing a deal to acquire predictions platform Railbird in October 2025. These activities reflect a corporate strategy focused on vertical integration, market dominance, and operating within the complex patchwork of gambling laws across North America. The company's major corporate milestones and acquisitions include the following key events.

• April 2013: Receives investment from Major League Baseball.
• July 2015: Secures $300 million funding round led by Fox Sports.
• April 2020: Completes reverse merger, begins trading as DKNG on Nasdaq.
• March 2021: Acquires Vegas Stats & Information Network (VSiN).
• May 2022: Acquires Golden Nugget Online Gaming.
• February 2024: Acquires lottery app Jackpocket for $750 million.
• July 2024: Sells VSiN back to the Musburger family.
• October 2025: Announces deal to acquire predictions platform Railbird.
• December 2025: Officially launches DraftKings Predictions platform.

Questions about DraftKings

Is DraftKings legal in Canada?

Yes, DraftKings operates legally in the Canadian province of Ontario. Its online casino and sportsbook launched in Ontario on May 18, 2022, under licenses from the Alcohol and Gaming Commission of Ontario and iGaming Ontario. The company has announced its intent to launch in Alberta, pending final approval from the Alberta Gaming, Liquor and Cannabis Commission. DraftKings is not available in any other Canadian provinces or territories. Users must be physically located within Ontario to place wagers.

What is the DraftKings promo code for new users?

As of November 2026, no specific promo code is required for new users to claim DraftKings' welcome offer. The standard promotion for new sportsbook users is a bet-and-get offer where, after signing up and making a deposit, a user who spends $5 or more receives $200 in bonus bets paid out incrementally over 21 days. Users who claim this offer receive a complimentary three-month subscription to NBA League Pass on DraftKings. This offer is subject to eligibility restrictions, is void in Canada for users outside licensed provinces, and is only available to adults aged 21 or older in most US states (18+ in some jurisdictions).

What sports can I bet on with DraftKings in Canada?

DraftKings Sportsbook in Canada offers betting markets on a wide variety of sports. This includes major North American professional leagues like the National Hockey League, National Basketball Association, Major League Baseball, and National Football League. The platform also covers soccer, golf, tennis, and major tournaments. For Canadian users, there is coverage of domestic leagues such as the Canadian Football League. Bettors can find standard wager types like moneylines, point spreads, and totals, as well as player proposition bets, same-game parlays, and live in-play betting options for many events.

Does DraftKings have a casino in Ontario?

Yes, DraftKings operates a full online casino in Ontario. It launched on May 18, 2022, and is accessible with the same login as the sportsbook. The casino library features over 5,000 games, including a large selection of slots, digital table games like blackjack and roulette, and live dealer games from providers like Evolution. A standout feature is the Exclusives section, which contains more than 170 games developed specifically for DraftKings, such as the slot Celtic Gold and live game show Crazy Time. The casino also runs an in-house progressive jackpot system called DraftKings Jackpots, which players can opt into for an additional stake per game.

What are DraftKings NHL odds like?

DraftKings is a major book for NHL betting, offering comprehensive markets for regular season games, playoffs, and the Stanley Cup. Odds are presented for moneyline (straight-up winner), puck line (spread), and game totals (over/under on goals scored). The platform also provides a deep menu of player props, allowing bets on individual player points, shots on goal, and goaltender saves. For major NHL events like the Winter Classic or the Stanley Cup Final, DraftKings often creates special pre-built parlay options and offers odds boosts. The quality of its NHL odds is generally competitive with other leading sportsbooks, and live betting is available for games in progress.

What responsible gambling tools does DraftKings offer?

DraftKings provides several tools and features to promote responsible gambling. In June 2025, the company introduced My Budget Builder, a feature that allows players to set personal betting limits on deposits, losses, or time spent. The platform also allows users to self-exclude or take a time-out from their accounts. In response to regulatory pressure, DraftKings suspended the use of credit cards as a payment method in September 2023. The company's terms prohibit play by individuals with a gambling problem, and it provides links to provincial problem gambling helplines. However, the company has also faced lawsuits and a 2026 investigative report alleging its platform encouraged compulsive behaviour.

Sources and further reading

• DraftKings (Wikipedia)
• DraftKings Promo Code: $200 in Bonuses, NBA League Pass for New ... (cbssports.com)
• DraftKings Sportsbook Review 2026: Social Features & Parlays (thelines.com)
• DraftKings Sportsbook Review November 2026 (sportsbookreview.com)
• Draftkings Canada Review 2026 | Draftkings Alberta & Ontario (canadasportsbetting.ca)
• DraftKings Ontario Review 2026 | 170 Casino Exclusives (casino.ca)

Checked by the Nosy Mag desk. Last updated 2026-11-10.