DraftKings CEO: Crypto Casino and Sports Betting To Play Big Role

DraftKings CEO: Crypto Casino and Sports Betting To Play Big Role

The Chief Executive Officer of DraftKings, Jason Robinson, is certain that cryptocurrencies will play an increasingly important part in the ecosystem of online casinos and sports betting. 

DraftKings has not waited for events to catch up to it and is already blazing a path with its dedicated DraftKings Marketplace, which is built on non-fungible tokens.

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Crypto Betting at Sportsbooks

The platform was established with the assistance of Autograph, a blockchain platform that Tom Brady owns. In general, DraftKings is known to be engaged in the cryptocurrency and NFT sector, as seen by their CryptoPunk NFT prize, drawings, T-shirts, and other items. But now Robins is talking business, and he has stated that DraftKings may start taking cryptocurrency directly for bets as well as payments.

He is certain that people want it. In an interview for the Decrypt General Management podcast, the executive said that they see a great deal of potential in the area. He said that the market circumstances necessary to make this happen were already there and that DraftKings is working diligently to actualize this potential. 

He also stated that the market prerequisites were already in place. That does not mean that everything will go off without a hitch, however. Robins is well aware that governmental regulations will continue to provide obstacles in the way of its plans. 

Even though a majority of states in the United States already have legislation in place to regulate and legalize sports betting, not all of those states allow cryptocurrency wagers. The government of Wyoming just established a bill that makes it possible to wager using cryptocurrency. However, it does not seem that any sportsbook has implemented this option as of yet.

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Obstacles to Navigate

But Robins is cognizant of the fact that there are other obstacles included inside, such as the possibility that individuals are too inexperienced and unsure about the operation of cryptocurrencies to begin with. 

They would need to be led and progressively exposed to the crypto sports gambling sector in order to get to the point where they comprehend the market a little bit better. 

Even so, the chief executive is of the opinion that centralization, in and of itself, would not be a negative development. If you want to get more players interested in crypto betting, you may need to take a more centralized approach. 

This would not only make the process of getting started easier, but it would also inspire faith in the regulators who would be more receptive to the notion. In any case, a regulation on the level of each individual state would finally set the limitations of what constitutes legal sports betting, and Wyoming is a clear example that this might be done now.

 

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.