DraftKings(NASDAQ: DKNG), the online sports and sports fantasy gambling company that debuted as a public company on April 24, 2020, says it is looking at in-game betting as its 'No. 1 focus from a product perspective.' In an interview with Barron's, CEO Jason Robins said there is opportunity in the U.S., noting that 'in-game is about 75% of the revenues at sports books' in the U.K.

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Robins discussed how real time in-game betting is popular in the U.K.'s English Premier soccer league for such things as which player will be issued the next yellow card. He believes that a sport like major league baseball in the U.S. is even more suited to this type of betting, since there are stoppages as a normal course of play.

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Robins told Barron's that 'prop bets,' which are specific in-game event wagers unrelated to the outcome of the game, are gaining in popularity. He said it's gotten so popular that tennis fans are even betting on every point. U.S. viewers who watched last weekend's charity golf event with Tiger Woods, Peyton Manning, Phil Mickelson, and Tom Brady saw DraftKings' odds for who would win each hole shown on the screen.

1 day ago  Jason Robins, DraftKings Inc. Chief executive officer, discusses sports betting ahead of the Super Bowl with Bloomberg's Caroline Hyde, Romaine Bostick and Taylor Riggs on. DraftKings Flash Bet: A New Kind of Live Betting. Live, in-game betting has exploded in popularity, with some bookmakers now suggesting it makes up most of their business. And what’s not to love? Placing bets on events as they unfold in real time is simply more exciting than only doing so before the game begins.

DraftKings stock has been on an upswing recently as some analysts have announced higher price targets. Sports betting has been legalized in only 18 U.S. states so far, so there is room to grow. And even though sporting events have virtually come to a halt in an attempt to stop the spread of COVID-19, Robins believes his company is still well positioned.

Even with the uncertainty brought on by the pandemic, Robins is sticking with his company's prior estimates for 2021, saying, 'we're expecting the sports calendar to be full enough for us to achieve those numbers.'

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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One of the largest single wagers in Super Bowl betting history, $3.4 million on the Tampa Bay Buccaneers to cover the 3.5-point spread, was placed with DraftKings in Colorado on Wednesday night.

DraftKings said Thursday morning that Jim “Mattress Mack” McIngvale wagered $3.46 million on the Bucs to cover against the favored Kansas City Chiefs.

“Tampa Bay is loaded with talent on both sides of the ball and led by the greatest football player of all time in Tom Brady, so I’m betting big on the Bucs who have overcome tough matchups throughout this postseason,” McIngvale said.

“The NFL has only seen eight instances of back-to-back champions and none in the past 16 years, so I like my chances going into Super Bowl LV for this trend to continue. DraftKings has been amazing; providing a safe, legal and fantastic customer experience.”

The 69-year-old McIngvale owns and operates Gallery Furniture.

McIngvale flew into Colorado Springs and placed the wager via DraftKings mobile from the airport, the sportsbook said. He placed a $3.5 million bet on the Houston Astros to win the World Series in 2019.

“Mack has been a great customer and is someone we have history with after taking his sizeable wager on the Astros to win the World Series a couple seasons ago. For Super Bowl LV, Mack is handicapping the game out of pure belief that the Buccaneers can either win or at least cover the spread,” Johnny Avello, director of race and bookmaking at DraftKings said.

“We are not strangers to taking significant action, particularly on one of the biggest sports events in the country. Looking at the way we have booked the Super Bowl so far, bettors are laying 3 on the Chiefs and taking the Buccaneers at +3.5 as fans try to get the best possible line.”

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FanDuel moved the over-under from 56 to 55 on Wednesday as the Sunday evening forecast turned from sunshine to a 75 percent chance of heavy rain and thunderstorms.

PointsBet revealed Thursday morning that more than 70 percent of all bets are being placed on the Chiefs.

Draftkings Sportsbook Odds

–Field Level Media