DraftKings wants to see more parlli..parle..parlays

If you’re a gambler looking to add yet another subscription to your monthly credit card bill, DraftKings wants to have a chat. The gambling company recently launched a $20/month subscription service in New York designed to provide paying customers a boost in odds – but only when it comes to parlays.

• For example, a two-leg parlay receives a 10% boost, a six-leg parlay gets a 50% boost, and an 11-leg parlay receives the maximum 100% boost.
• The maximum bet eligible is $25.

Quick reminder: A parlay is a series of connected bets (legs), where the payout is dependent on all of those wagers winning together. If any of the bets in the parlay lose, the entire parlay loses (aka no payout).

In the know: With the subscription – a first for sportsbooks – DraftKings could be looking to help offset taxes in New York, after reversing course in August on its plan to add taxes to customer payouts. Sports wagering taxes in the Empire State stand at 51%, tied with New Hampshire for the highest rate.

😍 Gambling companies <3 parlays. On both DraftKings’ Q1 and Q2 2024 earnings calls, CEO and chairman Jason Robins revealed the company is explicitly working to increase parlay adoption, as well as the average number of parlay legs. Parlays are a profitable and growing area for sportsbooks, ESPN reports.