DraftKings CEO Jason Robins addressed the competition from ESPN Bet during his presentation at the third annual Craig-Hallum Online Gaming Conference, revealing that he is unfazed by their entry into the market. Robins sees ESPN Bet’s launch as a potential positive for the industry, believing that it could bring new innovation and talent to the market.

Despite ESPN Bet’s strong start with over a million app downloads in six days and record-breaking sportsbook downloads, Robins reiterated DraftKings’ position as one of the top two operators in North America alongside FanDuel. He maintained that DraftKings will continue to stick to their playbook and focus on building a great product, confident that the best product always wins in a competitive market.

Robins expressed surprise at how quickly DraftKings has become North America’s leading sportsbook and emphasized the strength of their product as the reason for their continued success. He is optimistic about the company’s prospects in the igaming sector, stating that it is a significant chunk of their revenues and a hidden gem that they intend to continue competing in.

In terms of financial performance, DraftKings saw a significant rise in revenue in Q3 but remains at a net loss for the year. However, the company’s greater operational efficiency suggests a stronger chance for net profitability in the future, with adjusted EBITDA loss reduced from the previous year.

Looking ahead, DraftKings is preparing to launch progressive parlays in the coming weeks, offering sports bettors the chance to win consolation prizes and providing a differentiated product to meet customer demand. The company also continues to expand its presence in the US, with mobile sports betting now live in 25 states and monthly unique players increasing significantly.

Overall, Robins’ outlook for DraftKings remains optimistic, as he believes that the company’s focus on building a great product and their consistent performance in a competitive market will continue to yield positive results.

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