DraftKings CEO moots crypto payments

Sports betting giant DraftKings’ CEO Jason Robins has said he is confident of the integration of crypto payments into the sports betting and eco gaming system.

He said he expected payments will be accepted in crypto for fantasy contests and betting soon.

Discussing the intehgration of crypto and sports betting on the most recent episode of Decrypt’s gm podcast, Robins said: “Certainly people want it. Certainly, within the marketplace, we should be able to do that, so we’re working towards it.”

However, new ventures don’t come without hurdles and Robins sees a rocky road ahead with the regulatory framework surrounding companies accepting crypto payments.

DraftKings, alongside several sports betting operators are bound by state-by-state legalisation; currently more than 30 states are have  legalized sports betting.

“Different products in different states might be more likely to be doable earlier, and some may be out of our control”, Robins continued.

He added: “There are protections that people don’t necessarily have in the crypto space that we think is important. We feel like, in order to introduce something like that to our platform, we need to go a little bit beyond maybe where some others in the market have gone because there’s an expectation from our customer that we do so.”

The CEO said that using crypto as an incentive could entice and welcome new sports bettors. DraftKings has been dabbling in the crypto space over the past year and isn’t waiting for just crypto payments to appear in sportsbooks.

Last year, DraftKings launched its NFT marketplace on Tom Brady’s NFT and blockchain platform, Autograph. Alongside this, a CryptoPunk NFT was also offered as a prize for a fantasy golf contest, and at the Nasdaq bell-ringing ceremony in June, the company’s three co-founders wore all wore CryptoPunk T-shirts when ringing the opening bell.

This definitely isn’t the company’s first rodeo when it comes to crypto, but if today is yours, then why not try your luck recreationally with some of our most trusted gaming sites: Cloudbet, FortuneJack or Sportsbet.io.

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Updated: 05/26/2022 — 17:00