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DraftKings CEO Jason Robins has confirmed that the gambling operator is considering adding cryptocurrency payments. The news broke following a fourth-quarter earnings call in mid-February.
“It’s certainly something we’re looking at,” he said. “It’s also getting regulators comfortable with it. They’re usually cautious around crypto. There are only a handful of states open to it at the moment, but if it grows to a larger number of states, it’s something we’d take a longer look at.”
A host of cryptocurrencies are transitioning into the iGaming world. Bitcoin, Ethereum, Tether, and others deliver payments quickly, safely, and without fees. The use of blockchain technology enables greater transparency between operators and bettors.
Why crypto could be the way forward for DraftKings
Based on a report from PYMNTS Intelligence, crypto appeals because of its almost instant payments, reduced costs, and enhanced transparency. Such characteristics are in keeping with DraftKings’ aim of improving the user experience.
President Donald Trump is working to clarify the legal situation regarding cryptocurrency. Should regulation in this area become clearer, DraftKings could be one of multiple betting operators to add crypto payment options.
Another important goal for DraftKings this year is to improve its live betting options. This follows the purchases of Simplebet, Mustard Golf, and Sports IQ Analytics. Live betting is popular, particularly among younger, tech-savvy players. Partnering with leading broadcasters to provide live streaming will boost DraftKings’ service.
Robins spoke of his desire to integrate particular company values:
“For instance, Jackpocket, the No. 1 digital lottery courier app, has proven to be an efficient acquisition channel for the DraftKings ecosystem. The app recently cracked the top 5 in the entertainment category of the App Store when the Mega Millions jackpot reached $1.2 billion. In 2025, we believe Jackpocket is positioned to benefit from larger prizes, more states, and an expanded product offering that includes scratcher games.”
FinTech improvements mean that instant transactions and no processing fees make it possible for players to bet in real-time. While not discussed in the recent DraftKings call, a PYMNTS report made it clear how useful instant payments can be. This is because almost 70% of recreational players select instant payouts when available.
How DraftKings has gone from strength to strength
DraftKings’ numbers continue to grow. Their fourth-quarter revenue was up 13% from last year, reaching $1.39 billion. Over 12 months, revenue totalled $4.8 billion, up a massive 30%. This was achieved thanks to over 3 million new members, taking their customer base to over 10 million. The remainder of 2025 and 2026 are expected to be big for DraftKings.
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“My confidence begins with the year we had in 2024,” Robins said. “DraftKings is at the epicenter of a megatrend. We continued to efficiently acquire and engage customers, expand structural sportsbook hold percentage, and optimize promotional reinvestment in fiscal year 2024, while we simultaneously experienced customer-friendly sport outcomes. Looking ahead to 2025 and beyond, I am excited to further enhance our customer economics through new initiatives such as extending our lead in live betting and advancing cross sell efforts to and from new verticals.”
