{"id":268913,"date":"2023-04-14T20:50:58","date_gmt":"2023-04-15T01:50:58","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=268913"},"modified":"2023-04-14T20:50:58","modified_gmt":"2023-04-15T01:50:58","slug":"draftkings-wants-massachusetts-sports-betting-share-lead","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/","title":{"rendered":"DraftKings Aims for Market Share Crown in Massachusetts, Its Home State"},"content":{"rendered":"

Online sports betting recently debuted in Massachusetts. Not surprisingly, DraftKings (NASDAQ: DKNG) is aiming for the top market share in its home state.<\/p>\n

\"Massachusetts
DraftKings’ corporate office in Boston. The company is aiming for the top spot in market share in its home state. (Image: AP<\/em>)<\/figcaption><\/figure>\n

Founded 11 years ago in Boston, DraftKings is the largest publicly traded gaming company based in New England and the only one that calls Massachusetts home. Whether there\u2019s a material home field advantage for the operator in its home state remains to be seen, but internet search data indicate locals are perusing DraftKings more than rival FanDuel.<\/p>\n

We see some soft signs that things *could* be different in Massachusetts, DraftKings\u2019 home state,\u201d according to Eilers & Krejcik Gaming (EKG). \u201cGoogle search interest for DraftKings was significantly higher than FanDuel throughout the first month of Massachusetts sports betting.\u201d<\/p><\/blockquote>\n

The \u201cdifferent\u201d the research firm is referencing is the point that in nearly every state in which it offers online sports wagering, FanDuel is the market share king<\/a>. FanDuel controls more of the US mobile sports betting market than rivals DraftKings and BetMGM combined.<\/p>\n

DraftKings Spending Big in Massachusetts<\/h2>\n

While DraftKings is focusing on costs and profitability — moves that paved the way for a first-quarter rebound<\/a> in the stock — it\u2019s spending mightily to attract new customers in its home state.<\/p>\n

\n

EKG said current DraftKings bonuses in the largest New England state are as high $1,250 or five times what FanDuel is offering new clients.<\/p>\n<\/div>\n

\u201cThat\u2019s no surprise. We expect DraftKings to go hard after the number one spot in its home state,\u201d added the research firm.<\/strong><\/p>\n

DraftKings employs more than 2,000 people in Boston though that number could drift lower following a February announcement in which the company said it is trimming its headcount<\/a> by as much as 3.5%. The company\u2019s second-largest US office will be located in Las Vegas where it currently doesn\u2019t book bets.<\/p>\n

Home Field Advantage Doesn\u2019t Always Materialize<\/h2>\n

Other Massachusetts sportsbook operators may have home field advantages, too. Penn Entertainment\u2019s Barstool Sportsbook was born out of the operator\u2019s relationship and subsequent acquisition of Barstool Sports<\/em>, which like DraftKings, was started in Boston.<\/p>\n

Likewise Wynn Resorts runs Encore Boston Harbor and its WynnBET unit is operational in Massachusetts. So is BetMGM, which is half-owned by MGM Resorts International — the operator of MGM Springfield.<\/strong><\/p>\n

Casino operators with digital units are realizing benefits from those businesses, including luring active players to land-based casinos. Additionally, it\u2019s possible that BetMGM and WynnBET can leverage ties to brick-and-mortar gaming venues in Massachusetts for increased online client rolls.<\/p>\n

However, there are no direct correlations between operating casinos and online sports betting market share. FanDuel and DraftKings are tops in this segment and neither runs a land-based gaming venue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Online sports betting recently debuted in Massachusetts. Not surprisingly, DraftKings (NASDAQ: DKNG) is aiming for the top market share in its home state. Founded 11 years ago in Boston, DraftKings is the largest publicly traded gaming company based in New England and the only one that calls Massachusetts home. Whether there\u2019s a material home field […]<\/p>\n","protected":false},"author":46,"featured_media":214512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,20,1074],"tags":[81931,81906,80968],"acf":[],"yoast_head":"\nDraftKings Wants Massachusetts Sports Betting Share Lead<\/title>\n<meta name=\"description\" content=\"DraftKings eyes throne in Massachusetts sports betting market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DraftKings Wants Massachusetts Sports Betting Share Lead\" \/>\n<meta property=\"og:description\" content=\"DraftKings eyes throne in Massachusetts sports betting market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-15T01:50:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/ZW7URKVN3NFGTLTDK3UZMDUJPQ.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/\",\"url\":\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/\",\"name\":\"DraftKings Wants Massachusetts Sports Betting Share Lead\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/ZW7URKVN3NFGTLTDK3UZMDUJPQ.jpg\",\"datePublished\":\"2023-04-15T01:50:58+00:00\",\"dateModified\":\"2023-04-15T01:50:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"DraftKings eyes throne in Massachusetts sports betting market.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-wants-massachusetts-sports-betting-share-lead\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/ZW7URKVN3NFGTLTDK3UZMDUJPQ.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/ZW7URKVN3NFGTLTDK3UZMDUJPQ.jpg\",\"width\":1200,\"height\":800,\"caption\":\"DraftKings' corporate office in Boston. 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