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DraftKings Sports Betting Company

DraftKings was founded in 2012 by former Vistaprint employees Jason Robbins, Matthew Kalish, and Paul Lieberman. The company initially operated out of Lieberman’s home. The company’s first product was a one-on-one baseball competition, Which was launched in 2012 on the occasion of Major League Baseball’s Opening Day.

In April 2013, Major League Baseball invested in DraftKings, becoming the first American professional sports league to invest in daily fantasy sports. The investment was not disclosed at that time. DraftKings Inc. is an American gambling company based in Boston, Massachusetts. It offers sportsbook and daily fantasy sports (DFS) services.

The company originally launched in 2012 as a DFS provider, competing primarily with New York-based FanDuel. In May 2018, amid the widespread legalization of sports betting in the United States, DraftKings began expanding into online and retail sportsbooks to leverage its brand awareness and customer base.

DraftKings became a publicly traded company in April 2020 through a reverse merger with Bulgarian technology company SBTech and Diamond Eagle Acquisition Corp, a special purpose acquisition company. In May 2022, DraftKings acquired Golden Nugget Online Gaming. In February 2024, the company acquired lottery courier app Jackpocket for $750 million. In July 2024, DraftKings sold VSIN back to the Musburger family.

In September 2024, the company was fined $200,000 by the Securities and Exchange Commission (SEC) for violating regulation fair disclosure. That’s when the company’s PR team shared material, non-public information about revenue growth on CEO Jason Robbins’ personal LinkedIn and X (formerly Twitter) accounts ahead of the official earnings release.