DraftKings and FanDuel Gear Up for Super Bowl Showdown

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DraftKings and FanDuel Gear Up for the Super Bowl with New Betting Options

With the Super Bowl approaching, major betting platforms DraftKings and FanDuel are set to capitalize on the event with innovative betting options in states where traditional sports betting is not available. This year marks the first time both companies will offer prediction market services during the Super Bowl, reaching a broader audience in key states like California and Texas.

DraftKings has launched its prediction markets in 17 states as of December, while FanDuel has done so in 18 states. These platforms have partnered with CME Group to introduce new types of bets including parlays, sometimes referred to as combos. These offerings are already available on platforms like Calhi and Crypto.com, indicating a competitive market for such services.

These betting options come as a strategic move, particularly with the unique timing of the Super Bowl, to attract new users who might not typically engage in sports betting. Last year's Super Bowl saw player prop bets and parlays comprising 50 to 60% of all wagers, a substantial increase compared to five years preceding.

The success of same-game parlays has notably contributed to FanDuel's profitability, a strategy that other companies have started to emulate. As nous non-betting states continue to show potential for market growth, DraftKings and FanDuel are paving the way with their offerings, ensuring they remain competitive in the biggest game of the year. Initially, these services will feature prepackaged parlays, with more customizable options expected to follow soon.