DraftKings, Churchill Downs Teaming Up
As the sports betting industry continues to grow throughout the United States, and in the Midwest, the horse race betting industry has sort of been forgotten. Some of the biggest operators in the industry don’t even offer this type of betting, but at least one company will be changing that soon.
DraftKings has announced that it will soon launch a horse race betting app, joining a growing list of other operators that offer a similar option. There are some horse race options currently available at DraftKings, but they are found under the free-to-play section.
Horse racing itself is no longer as popular as it once was, but that’s not the case in the Midwest. The state of Kentucky is still a leader in horse racing, and Churchill Downs is going to play a role in this new launch.
DraftKings got its start as a daily fantasy sports operator, but has since become a leader in the sports betting industry. While some of its top competitors have already started offering horse race betting, DraftKings has stuck with what made them popular.
With nearly all of the states in the Midwest now having legal sports betting, you can expect DraftKings to target this part of the country with this launch. It will still take some time before DK Horse is available, but it’s going to be launching at a perfect time.
Churchill Downs Playing a Part
Churchill Downs Inc. is the company that owns the Churchill Downs race track, which is the site of the Kentucky Derby. Churchill Downs actually just left the sports betting industry as it pulled its TwinSpires app off of the market.
DraftKings and Churchill Downs have struck a deal, and the company with plenty of experience is helping to design the new app. The Kentucky Derby is set to take place in May 2023, and this new DK Horse app will be available before the major event.
This is going to start out as a separate app, and customers will have to register for a new account and deposit money. Eventually, customers will be able to access all of the features across the entirety of DraftKings platforms.
At Attempt to Catch FanDuel
Perhaps one reason that DraftKings has decided to get into horse race betting is the fact that it continues to trail FanDuel in terms of online market share. It’s a tall task to ask DraftKings to catch up, as FanDuel has racked up nearly 47% of the online market share in 2022.
DraftKings checks in with more than 20% through the first 10 months of 2022, but they are starting to get a push from BetMGM. These three titans are battling it out, and most are available in all Midwest states with legal sports betting.
DraftKings is also preparing for a sports betting launch in Ohio, which will take place on January 1.