DraftKings has been offering both fantasy sports betting and real-event wagers since 2012. Sports betting enthusiasts can enjoy this transparent platform.
But when does DraftKings report earnings? Read on to answer this question and learn why DraftKings may not be as amazing as you think.
What Is DraftKings?
DraftKings is an online sportsbook with over seven million users. Gamblers can go onto the website and place bets on a wide range of teams, players, and sporting events. They also offer betting on fantasy events.
Players then get an automatic payout when they win money from this massive sportsbook. The platform itself brings in over a billion dollars worth of revenue annually.
When Does DraftKings Report Earnings?
Keeping up with DraftKings’ worth may sound like a daunting task, but they report earnings regularly. Earnings calls take place every three months so that you can keep up with their quarterly financials.
On February 16th, 2024, DraftKings will provide a report of the financials between September and December 2023. The reports always look back on the previous three months. As of early February, the most recent report (released in December) shows their revenue increased by 12.9%.
When looking at reports, you can get a lot of information. You can see the revenue for the three months being analyzed ($789.96 million as of the most recent figures). You can also see things like net income, net profit margin, cost of revenue, and cash on hand.
Is It a Profitable Sportsbook?
DraftKings makes a lot of money in the form of quarterly revenue. However, its net income was down by $283.1 million last quarter, meaning that it is not performing as well as it previously did.
DraftKings also is less profitable for individual gamblers than it could be. This is because they are still working on becoming a more lucrative company.
They’re trying to grow, so they take a cut of all wagers on both fantasy sports and real events. This cut is usually about 10%, though it could be higher for some players depending on the events they wager on. Additionally, multiple winners need to split the remaining 90% amongst themselves so that no one will turn too big a profit.
What Sets AcePerHead Above DraftKings?
Players prefer AcePerHead sportsbook sites over DraftKings because they have the potential to win more. While our bookies can and should take a vig to ensure consistent profit, it doesn’t need to be as high as 10%. Players will enjoy this as well as speedier customer service, a secure and mobile-ready sportsbook interface, and one-click Bitcoin betting.
As an agent, you will also be able to grow more by not using a big site like DraftKings. You can personalize the service you offer and build a brand to make a name for yourself within the industry. This identity will become more well-known and draw in bettors who prefer your personal interaction and human touch.
How to Start a Great Online Sportsbook
A great online sportsbook can be a fun business to run. Click here to find out how to start the best online sportsbook that attracts new clients.
Would you like to earn over $100k per year in sports betting? If so, starting the best sportsbook can help.
The sports betting industry is constantly growing, allowing both players and bookmakers to build wealth. However, despite being easier to get into, gambling is much riskier than owning a sportsbook.
To ensure you find as much success as possible, Ace Per Head will outline the main steps you need to go through to start your sportsbook. Keep reading for all of the information you need!
Set a Flexible Budget
Anyone who wants to start an online sportsbook must begin the process by setting a budget. To do so, you will need to consider various factors to get the best results, and if you currently have income, setting one will be much easier.
The simplest way to set a budget is to consider the amount you have saved and the amount you keep from your income after paying necessary expenses. If you don’t have much money already, you should start saving to prevent restricting yourself.
One of the best things about owning a sportsbook is that you won’t need to spend much after setting it up. However, initial costs can be quite expensive, especially if you want more types of features.
Because of this, expect to spend at least a few thousand dollars to get things running. As you gain more players, you will also pay more due to the pay per head model, but you will also earn more.
Search for Sportsbook Providers
After setting a budget, you can then search for affordable sportsbook providers that offer everything you need. Sportsbook providers create the software you will use to manage your platform.
Unlike many sportsbook providers, those offering pay-per-head services, like Ace Per Head, are much more affordable for beginners. When working with them, you will only pay for the number of players that actively use your platform, instead of paying large flat rates.
The last thing to do is set goals to help you create a long-term business plan for your sportsbook.
Some of the main things to determine are what you will offer on your platform, what you expect to accomplish in the first year, and how you intend to satisfy customers.
You can set as many goals as you’d like but try to be as realistic as possible. You should also set both short- and long-term goals to find consistent success after launching your platform.
Starting the best pay per head sportsbook can be done by anyone, especially if you use this advice. When you’re ready to kick things off, Ace Per Head will be here to ensure that everything is done properly.
By using our services, you can take advantage of numerous tools that make sportsbook management simple. You also don’t need a huge budget, so our services can help you become a bookie agent quickly.
Run a Profitable Sportsbook Today
So, when does DraftKings report earnings? Fairly frequently, but this doesn’t make them automatically profitable.
Now that you know all about the DraftKings sportsbook, it’s time to reach those betting online. AcePerHead will help you set up a fully custom, user-friendly sportsbook that you can manage anywhere. Create your package today for one week of free services each month for life.