Draft Kings, casinos gear up for Super Bowl sports betting debut - Southern Business Review

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Friday, February 1, 2019

Draft Kings, casinos gear up for Super Bowl sports betting debut


DraftKings expects to see a record volume of bets for Sunday's Super Bowl LIII, now that sports betting is legal in eight states, Jason Robins, CEO of the fantasy sports platform, told CNBC.


"Not surprisingly, it's the biggest day of the year for us," he said Friday on "Closing Bell." "I've heard people estimate there could be over $100 million bet in New Jersey on the Super Bowl this year, which would be amazing."


One establishment taking advantage of the nascent industry, which was cleared for states to legalize it after a 2018 U.S. Supreme Court ruling, is Borgata Hotel Casino & Spa in Atlantic City, New Jersey. Super Bowl Sunday has been a quiet day for the casino in the past, but Borgata Sportsbook President and COO Marcus Glover told CNBC it will be different this time around.

"We have reservations throughout the weekend," he said Friday on "The Exchange."



Glover projects that millions of dollars will be wagered on the casino's book when the New England Patriots face the Los Angeles Rams in Atlanta. The house will take a 5 percent cut of the volume-based wagers, and Borgata anticipates benefiting from "ancillary revenue," Glover said.


New Jersey and Nevada are among the states to have legalized sports betting since the Supreme Court case. Robins predicts that as many as 10 more states will move to authorize the activity sometime this year.


"The momentum is real, and I think you're going to see a lot of movement again this year," he said.


Super Bowl LIII will kick off at 6:30 p.m. ET Sunday.