Posted on: January 3, 2025, 04:25h.
Last updated on: January 3, 2025, 04:54h.
DraftKings users can now buy better parlay odds via a new $20 per month subscription service, first reported by Sportico.
Max 100% Boost
Called DraftKings Sportsbook+, launched only in New York at this point, the subscription offers “Unlimited ‘Stepped Up’ Boost Tokens” 30 minutes from the time you subscribe that can be applied to parlays and same game parlays. Participants will get a maximum 100% profit boost on winning parlays (11 or more legs).
DraftKings is the first sportsbook to offer a subscription service. According to news reports the service was launched quietly in New York on Dec. 28.
High New York Taxes
In a statement, the company said:
The subscription service was designed to offer our customers an enhanced fan experience, creating more excitement and value to our extensive parlay offering.”
As reported in September, DraftKings CEO Jason Robins said he would be looking at alternate avenues to get around jurisdictions with high sports betting taxes – like New York for example, with a tax rate of 51%.
In August, DraftKings had proposed implementing a tax on winning bets in states with high tax rates but in two weeks abandoned the idea.
Massive Expansion in Popularity of Parlays
No word from DraftKings on a rollout of the subscription offering in other states. In the end, bettors can make longer shot wagers potentially more lucrative. Parlay bets are also a rapidly expanding area of profitability for sportsbooks, thanks in part to aggressive advertising by sportsbooks like DraftKings, FanDuel and BetMGM.
According to Flutter Entertainment, the company that owns FanDuel, over 262 million ‘Same Game’ bets were made globally in the last quarter of 2023 across Flutter’s key brands – almost 75% more than in the same period in 2022.
