DraftKings adds high-value offerings to the rewards program that seeks enhanced loyalty for the best in sports
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Sports betting giant DraftKings is expanding its rewards program with paid gifts. The company has added its 2025 Elite Reward Catalog Experience Rewards Catalog to its Royal Rewards program. Anyone who buys will get an opportunity to earn tourism and travel.
“As a customer-centric brand, we’re always looking for new ways to better serve our customers and Dynasty Rewards was created to deliver memorable, customizable experiences and rewarding opportunities for our players,” said DraftKings Vice President of Loyalty and Experience Chika Chandrashekar. “It’s important to us to provide our players with the best loyalty program, as well as the most rewarding offers and exclusive access they can’t find anywhere else.”
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For the company, this step is part of its aim to strengthen the credibility it has with its customers.
“For us, loyalty and a loyal fan is someone who enjoys our product,” Chandrashekar told Fox Business. “We really focus on responsible gaming, so with education and tools for responsible gaming, they have fun with DraftKings, they have a great brand relationship, and when they use DraftKings they’re rewarded for it.”
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In August, for the three months ended June 30, DraftKings reported revenue of $1.104 billion, an increase of $230 million, or 26%, compared to $875 million in the same period in 2023.
The increase in the company’s revenue in the second quarter of 2024 was mainly driven by healthy customer engagement, the successful acquisition of new customers, the expansion of the company’s Sportsbook product offering into new territories, a higher percentage of sportsbook holdings, and the impact of the Sportsbook acquisition. Jackpocket Inc., closed on May 22.
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“We acquired more new customers more successfully than we expected and saw continued healthy customer engagement in the second quarter,” said Jason Robins, DraftKings’ chief executive officer and co-founder.
“We will continue to capitalize on the healthy customer acquisition environment until 2024 which sets us to reach $900 million to $1.0 billion of Adjusted EBITDA by 2025. In addition, we plan to implement a gaming tax levy in high tax states. mobile betting game operators in January 1, 2025 which could drive annualized adjusted EBITDA.”
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