DraftKings to Launch DK HORSE powered by CDI’s TwinSpires tech

DraftKings to Launch DK HORSE powered by CDI’s TwinSpires tech

DraftKings

A multi-year deal has been agreed upon to introduce pari-mutuel wagering on horse racing to the Boston-based online casino and sports betting operator DraftKings. The arrangement will be facilitated by Churchill Downs Incorporated (CDI).

The pari-mutuel wagering technology and content for the app will be provided by TwinSpires, which is owned and operated by CDI.

It is anticipated that DK HORSE will go live in May, prior to the 149th running of the Kentucky Derby.

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Application for Pari-Mutuel Horse Betting

In accordance with the terms of the agreement with CDI, CDI’s subsidiary and provider of an online platform for wagering on horse races, TwinSpires, will make available to DraftKings advance deposit wagering (ADW) technology. This will enable DraftKings to power the launch of its DK HORSE standalone app in the coming months.

The chief executive officer of CDI, Bill Carstanjen, highlighted the “depth and quality” of the service made available by TwinSpires as the characteristics that place the online horse racing wagering brand in a league of its own well above its rivals.

Establishing Full End-to-End White Label ADW Solution 

Carstanjen added that they are excited to establish this relationship with DraftKings and to deliver a full end-to-end white-label ADW solution that will introduce their significant base of sports betting customers to horse racing wagering. They are excited to deliver a full end-to-end white-label ADW solution that will introduce their significant base of sports betting customers to horse racing wagering.

The first rollout of the standalone branded app DK HORSE will not feature connectivity with the wallet that is associated with the DraftKings Sportsbook, Casino, and daily fantasy sports apps. This will allow qualified users at DraftKings to bet on horse racing. There will be an announcement made at a later time about integration with the DraftKings wallet.

DraftKings Chief Executive Officer Jason Robins expressed his excitement about the company’s upcoming collaboration with CDI, which will provide DraftKings customers with “an opportunity to engage with pari-mutuel horse wagering” while also allowing the company to create an additional channel of customer engagement “during marquee horse racing moments.”

Targeting Kentucky Derby 149

DK HORSE is scheduled to come online in 21 states in advance of the 149th running of the Kentucky Derby, which will take place in May 2023. This, of course, is contingent upon receiving all of the requisite regulatory clearances. The amount of money wagered in this year’s Kentucky Derby (148), which broke new records for the amount of money wagered, saw a double-digit rise over the prior year’s race.

Robins came to the conclusion that “according to the nature of the deal,” they anticipate this new product offering will be instantly lucrative.

Enhancing Betting Offering Via App

Pari-mutuel wagering rights to horse racing material that is owned or controlled by the racing and wagering operator will be provided to DraftKings by CDI under the terms of the agreement, and these rights will include the Kentucky Oaks and the Kentucky Derby. CDI will also procure new horse racing material for use on the app on behalf of DraftKings in order to enhance the offering that is provided by the app.

After a statement that some of the company’s customer accounts had been hacked and around $300,000 of client monies had been stolen, the share price of DraftKings plummeted by 11% in the days leading up to Thanksgiving. The operator said that the monies that were lost will be returned, and they assured the public that their systems had not been corrupted.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.