The demand for sports betting has existed for decades in the United States, but it has traditionally been confined to the black market and Nevada, the only state where sports betting is legal. That all changed on May 14, 2018, when the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA), effectively legalizing sports betting in the United States – as long as a state government allows for it. The removal of regulations have opened up a new market (and created a huge opportunity) for companies like DraftKings. Jason Robins, CEO of DraftKings, joins the podcast to talk about the evolution of his company and why a deep understanding of customers is the key to leading in the new era of legalized sports betting.
Listen to this podcast episode to learn:
• How DraftKings is managing its transformation from a daily fantasy sports provider to a sports betting and online gaming company
• How the culture, regulations, and attitudes around sports betting have changed in the United States
• Why the most impactful insights emerge from a combination of listening to customers and data analysis
• How legalizing a market that was once in the shadows helps create more transparency and responsible practices
• The business value of “not being fully prepared,” and why entrepreneurs should expect to waste their first marketing dollars
• What lies ahead for DraftKings and the industry