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DraftKings Inc. went public on Friday despite there being little in the way of any sports. So where do we go from here?
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Draftkings received a market value of more than $6 billion after going public through a blank-check company merger — a nontraditional route to becoming a public company for a very nontraditional company.
DraftKings DKNG, -6.55% launched in 2012 with a single, daily fantasy-sports product, which allowed enthusiasts to make bets on players’ performance in a range of sports. Something of a virtual gold rush followed for DraftKings and rival FanDuel. DraftKings gobbled up hundreds of millions in investments and spent big bucks on marketing partnerships with National Football League and others.
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- Someone put $10,000 on the Colts to win the Super Bowl, at 45/1
According to the William Hill Sportsbook, someone bet $10,000 on the Colts, at 45/1 odds. If the Colts win the Super Bowl, that’s a payout of $460,000.
The Colts have since signed quarterback Philip Rivers, traded for defensive tackle DeForest Buckner, and drafted running back Jonathan Taylor. Their odds have fallen to 25/1.
Other significant wagers were placed on the Bills at 35/1 ($6,000) and the Titans at 40/1 ($4,000). The bets will pay out $216,000 and $164,000, respectively.
- Ean Lamb, Gambling911.com
