DraftKings and Churchill Downs Incorporated (CDI) announced a multi-year agreement to bring pari-mutuel gambling on horse racing to DraftKings.
CDI’s subsidiary and US horse betting platform, TwinSpires, will provide advance deposit wagering technology to the new DK HORSE app.
DK HORSE to launch ahead of 2023 Kentucky Derby
According to today’s press release, DraftKings will launch DK HORSE in the coming months. It will enable DraftKings players to bet on horse racing with a standalone branded app.
The initial launch of DK HORSE will require users to register and deposit funds separately from their one account, one wallet tethered to the DraftKings Sportsbook, DraftKings Casino and daily fantasy sports apps.
The companies’ plans regarding the DK HORSE integration will be announced later.
DK HORSE is expected to be available in 21 states, pending licensing and regulatory approvals. If everything goes smoothly, the app should launch before the 149th running of the Kentucky Derby in May 2023.
DraftKings expects new US horse betting app to be ‘immediately profitable’
Jason Robins, CEO and Chairman of the Board of DraftKings said:
“We are excited to collaborate with Churchill Downs Incorporated, not only to give our existing customers an opportunity to engage with pari-mutuel horse wagering but also to acquire new customers efficiently during marquee horse racing moments.
Due to the structure of the agreement, we expect this new product offering to be immediately profitable.”
CDI will give DraftKings pari-mutuel wagering rights to US horse betting content owned by CDI. Including the Kentucky Oaks and Kentucky Derby. On behalf of DraftKings, CDI will secure additional horse racing content for use on DK Horse.
Bill Carstanjen, CEO of Churchill Downs Incorporated said:
“We believe the depth and quality of our online offering through TwinSpires is unmatched in horse racing. We 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.”
Caesars Racebook launched on Nov. 1
Earlier this month, Caesars Entertainment launched its horse racing betting app, Caesars Racebook.
To do so, the online gambling giant partnered with NYRA Bets LLC. NYRA Bets is the official online gambling platform of the New York Racing Association.
The app went live just in time for the 2022 Breeders’ Cup (Nov. 4 – Nov. 5) in:
- North Dakota