Legalized sports activities playing continues to comb the nation. This yr alone, 4 states have handed payments legalizing sports activities playing, becoming a member of 18 states (and Washington, D.C.) that already had playing legal guidelines on their books. After going public in April by means of a particular goal acquisition firm, or SPAC, to capitalize on this chance, DraftKings has risen greater than 375% this yr due to the return of sports activities and pent-up demand amongst sports activities followers. Though the variety of month-to-month distinctive payers might have dropped round 35% yr over yr final quarter, DraftKings has improved the monetization of every payer by 50%. Executing properly like that is key for DraftKings, as different large names in betting have seen the chance in sports activities playing and the market is changing into extra crowded. This may imply large promotional spending forward, however with $1.2 billion in money and no debt, DraftKings appears like an amazing guess.