DraftKings is testing a subscription service to offset high New York taxes.

DraftKings is testing a subscription service to offset high New York taxes.
DraftKings is testing a subscription service to offset high New York taxes.
  • In an effort to reduce the impact of New York's high gaming taxes, DraftKings is currently testing a subscription service for a select group of customers.
  • Subscribers will get a boost in odds on all winning parlays.
  • DraftKings is the first sportsbook to offer a subscription service.

is upping the ante.

DraftKings Sportsbook+ is a new subscription service being tested by the sportsbook to increase odds for paying customers.

On Dec. 28, a $20 per month subscription service was launched for select customers in New York, offering up to a 100% profit boost on winning parlays. For instance, a two-leg parlay would receive a 10% boost, a six-leg parlay would receive a 50% boost, and an 11-leg parlay would get the full 100% boost. The maximum bet eligible is $25.

DraftKings has a strong testing ground in New York, one of the top-performing markets for online gaming.

New York has the highest sports wagering tax rate of 51%, which could be a potential area of interest for the company to help offset.

In August, DraftKings announced it was changing its stance and would no longer impose a tax on customers in states with multiple operators and a tax rate exceeding 20%.

Sportsbooks are seeing a profitable and growing area in parlays, where bettors wager on multiple events simultaneously. It seems that DraftKings is the first U.S. operator to launch a subscription service.

DraftKings stated that the subscription service was created to provide customers with a more thrilling and valuable experience through its extensive parlay offering.

The news was first reported by Sportico.

The company did not say how many users have signed up so far.

DraftKings is providing a free first month, followed by a subscription.

DraftKings is currently only offering its subscription in New York, but it may consider expanding to other states in the future.

by Jessica Golden

Business News