- DraftKings will give its New Jersey sportsbook customers a free $5.14 bet.
- The promotion comes as DraftKings continues to lose market share to rival FanDuel.
- According to DraftKings, this will be an annual promotion.
ATLANTIC CITY, N.J. – Today is the one-year anniversary of the Supreme Court overturn of the Professional and Amateur Sports Protection Act (PASPA, 1992).
Since it was New Jersey’s legal challenge that led to the momentous decision, DraftKings is offering each of its Garden State customers a free bet.
The promotion is good for today only, and it gives each New Jersey bettor a $5.14 free bet. There are no rollover requirements for the free bet, save that bettors must wager the entire amount at once.
As a further promotion for DraftKings’ “Free to Bet Day,” 100 members will win $514 DK Dollars. Ten more users will win $5,140 DK Dollars.
DK Dollars are essentially “store credit” that sports bettors can use as part of their DraftKings balances. Customers cannot withdraw DK Dollars as real cash, but the funds are good for all wagers at the sportsbook.
In a press release, DraftKings cofounder and CEO Jason Robins explains his brand’s motivation behind the promo.
"Free to Bet Day is our way of saying 'thank you' to all our customers who have helped make DraftKings an integral part of American sports history and innovation, and with their passion and support we could not be more hopeful for what the future holds."
Of course, USAOnlineSportsbooks.com that’s not the only reason for the promotion. Though first to market in New Jersey in 2018, DraftKings has steadily lost market share to its chief rival, FanDuel.
In March, FanDuel generated $17.5 million in revenue, capturing 55 percent of the New Jersey market. DraftKings cleared just $7.3 million in the same month, which equates to just 23 percent of the market.
Nevertheless, if you’re in New Jersey and have been thinking about joining DraftKings, now is as good a time as any.
Of course, you could also wait a year. Free to Bet Day will be an annual promotion for DraftKings.