For people new to sports betting, negotiating the sheer amount of data in order to figure out a bet can be a challenge. So, DraftKings Sportsbook has unveiled DraftKings Sportsbook Pools to take some of the mystery out of the process.
Instead of having to deduce meaning from odds and point spreads, players will merely select answers from a list of potential outcomes. Those potential outcomes could come from a single game or a series of them.
The winners will be the players who select the most outcomes correctly. Then, everyone will monitor the events as they unfold in real-time.
A press release from the company compares the new product to the traditional office pool. DraftKings want players to have “a more casual alternative” to bona fide sports betting.
“Millions of Americans have been playing in sports pools for years with their friends and coworkers, said Matt Kalish, DraftKings’ chief revenue officer and co-founder. “now, one of the most popular ways that fans can get ‘skin in the game’ is live on DraftKings Sportsbook.”
DraftKings is starting Pools off with a bang
The inaugural contest for this new product is a doozy. DraftKings is putting more than $200,000 in cash prizes up for the prizepool.
The game costs $20 to play. The first game will be a simple bit of prediction about the outcomes of all 13 NFL games this weekend (and Monday night).
The prizepool will divide and award shares according to the number of correct predictions that players make. DraftKings will award players according to the following schedule:
- 11 correct answers – 20 percent of the prizepool
- 12 correct answers – 30 percent of the prizepool
- 13 correct answers – 50 percent of the prizepool
That means that players who get all 13 games correctly will share at least $100,000. For a $20 risk, any of these outcomes is a remarkable return on the investment.
Obviously, NFL games don’t always turn out like they are supposed to do so. However, players who have a knack for the NFL should be drooling about the possibilities on this contest.
DraftKings continues to lead New Jersey both in revenue and innovation
Purists might suggest that DraftKings Sportsbook Pools will water down the product that DraftKings is offering. However, the sportsbook’s management likely isn’t very concerned, given how things have gone so far.
Overall, that DraftKings number accounts for roughly two-thirds of the New Jersey online sports betting market. So, site management probably isn’t worried about perception as much as continuing to innovate and appeal to larger crowds.
Since the site debuted in August, DraftKings has always offered one of the more creative and forward-thinking interfaces on the market. Its Kambi-designed site has two features in particular that mostly separate DraftKings Sportsbook from the crowd.
The first of these features is its betting carousel. When players log into their account on a mobile device, the app presents them with a customized rotation of betting selections.
This rotation derives from the player’s own betting habits, history, and stated preferences. So, each player’s experience on the app is tailored exactly to their needs and desires.
The other feature is nothing short of revolutionary. DraftKings offers players a live ticket system.
This system allows players to cash out their open tickets before the selected contest has even concluded. Players can choose a reduced payout if they want to hedge against the possibility of a last-second loss or a comeback victory by the other team.
Alternatively, parlay players can cash out their tickets if they’ve won some of their legs but feel nervous about the ones to come. On DraftKings, parlay players don’t necessarily have to win all of their selections to get paid on the bet – at least some of the payout, anyway.
So, a new product to appeal to the casual and novice sports bettor is in line with the company’s overall ethos of making sports betting easier on the customer. Given the company’s returns, it’s a wonder more sportsbooks aren’t trying to emulate this approach.