The logo of sports betting provider DraftKings is displayed on a smartphone screen.
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DraftKings raises the stakes.
The sports betting operator is testing a new subscription service called DraftKings Sportsbook+ that will offer paying customers an increase in odds.
The $20 per month subscription service quietly launched to select customers in New York on December 28, offering participants up to a 100% increase in winnings on winning combinations. For example, a two-legged battle would receive a 10% boost, a six-legged battle would receive a 50% boost, and an 11-legged battle would receive the full 100% boost. The maximum bet allowed is $25.
New York offers DraftKings a strong testing ground as one of the top performing markets for online gaming.
The company could also try to offset taxes in the Empire State. The sports betting tax in New York is 51%, tied with New Hampshire for the highest.
In August, DraftKings announced a U-turn after saying it would impose a small tax on customers in states with multiple operators and a tax rate above 20%.
Others in the industry will be watching closely. DraftKings appears to be the first US operator to launch a subscription service. Parlays, where bettors bet on more than one event at a time, are a profitable and growing area of sports betting.
In a statement, DraftKings said the subscription service is designed to provide customers with an enhanced fan experience by “adding more excitement and value to our extensive parlay offering.”
The news was first reported by Sportico.
The company did not say how many users have registered so far.
DraftKings offers the first month free, after which the subscription begins.
While the subscription is currently only available in New York, DraftKings said it will consider offering the service in other states.
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