DraftKings officially launched more than a decade ago, and the company broke into the daily fantasy sports industry. It wasn’t long before it became a leader in that industry, and the company has continued to grow and branch out since that time.
This company is now one of the leaders in the online casino industry as well, and it continues to seek out new opportunities when they are available. The most recent news from the company has nothing to do with sports betting or casinos, but it will allow it to become a bigger threat in the iGaming industry.
The company recently announced that it agreed to purchase Jackpocket for $750 million, and this was a massive move. Jackpocket is a lottery courier service, and DraftKings is excited about the potential of this new venture.
DraftKings issued a statement after this purchase was complete, and it is clear that they are going to explore the potential of a lottery courier service. Jackpocket might not be a big name to everyone in the lottery business, but that is soon going to change.
No Major Changes
DraftKings has bought out or taken over other iGaming companies over the past decade, and most of those now operate under the DraftKings name. That is especially true when it comes to sports betting as many smaller sportsbooks now offer betting through DraftKings.
That is not going to be taking place this time around though as the branding and app are all going to be staying the same. While the name Jackpocket is not going away at all, it is now going to have the backing to become a much bigger threat.
New Jersey is one of the states where DraftKings has a massive following, and Jackpocket is a big name to residents of that state. Those that want to get into the lottery are able to use Jackpocket in order to purchase lottery tickets without ever leaving the couch.
It’s unclear how DraftKings is going to integrate this new product into the sports betting or iGaming industry, but the company clearly has some big plans. There is some massive earning potential in the lottery as it consistently brings in more revenue than the other iGaming options.
Jackpocket was Growing
This sale does come at a very strange time for Jackpocket as it just started to feel like the company was gaining a following. That is what attracted DraftKings to the app, and Jackpocket was more than happy to make the move.
Jackpocket officially went live in New Jersey in February of 2024, but there was a successful soft launch in November 2023. DratKings is going to focus on the app in New Jersey, but there are plans to take it to other parts of the country as well.
One thing that will make this a possibility is that DraftKings has market access in more than 30 different states around the country. This move could end up impacting lottery retailers throughout the country, but it will boost the overall lottery revenue numbers.
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