DraftKings Launches Prediction Markets Platform

While the country wrestles with the concept of wagering on prediction markets, the availability of prediction market providers is increasing. DraftKings has officially added its name to a growing list of prominent providers.

Currently, DraftKings rules as the nation's leading sports betting provider, also providing quality online casino services. It makes sense that the company would seek a leadership position within the prediction market community.

DraftKings is running its prediction market operations out of a company called CME Group, the platform’s first exchange partner. Presumably, there will be other partners added on in the near future. This is another strategic part of the online gambling market, fitting perfectly with the company's recent acquisition of Railbird Technologies Inc., including the rollout of the Railbird Exchange LLC. DraftKings management stated that these moves are intended to expand its offerings, to drive future innovation, and increase long-term profitability.

In putting all these pieces into place, DraftKings CEO Corey Gottlieb stated the company is well-positioned to do battle with the competition in the future. It's noteworthy that the company already has strong strategic alliances with ESPN and NBCUniversal, creating a material advantage over competitors. All of this is targeted towards giving customers what they want now and well into the future.

A Focus on Responsible Gambling

As DraftKings increases its coverage of online and retail betting sources, the company has introduced its new Responsible Trading program. This program has been developed to educate and increase awareness of the pitfalls of gambling addiction.

The DraftKings Predictions platform includes tools that support responsible play by allowing customers to self-exclude, set deposit limits, and establish temporary cooling-off periods. Available through the DraftKings app, this program far exceeds what other online gambling providers have put in place to date.

Incentives for Joining the Prediction Market Community

Anyone who has ever experienced online gambling through DraftKings is aware that the operator is a big proponent of offering bonus incentives. True to form, the company has created a promotion that targets new prediction market customers.

According to the website, new customers will receive a $25 trade bonus on their first prediction market trade. Winners will get immediate access to only the net winnings created by the bonus. They will also be given several ways to enter a special drawing for a chance to win $1 million in cash.

What are Prediction Markets

Imagine for a moment that you want to wager on who will become the next President of the United States. With the Academy Awards coming next month, you might want to wager on which movie will win Best Picture. Perhaps you fancy yourself to be a good stock market prognosticator. These are all examples of the wagering markets on which you could place prediction wagers. Clearly, the possibilities are endless.

For now, these markets are available in 38 states. It's worth noting that several states are looking at either banning or regulating such activities. It's a new online betting option that is sure to get plenty of scrutiny from state legislators across the nation.