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DraftKings CEO Explains How It's Tackling Legal Sports Gambling

I've always felt in the long term, you'll have sports betting available in the U.S.. It just made sense to me given how it's done in so many other parts so the world: Australia, Europe and so on. So when the Supreme Court made the decision they did, it was obviously a huge accelerant. "Legalization is only part one; each state then has to issue regulations and then licenses, so it could be six months to a year between a law getting passed and getting up and running. In New Jersey's case, since they were the state that went to the Supreme Court, they were very motivated and working on this beforehand. West Virginia, for example, is granting reciprocity with Jersey instead of building their own regulations and licensing process, which can be lengthy and costly to administer. I'm hoping that a lot of other states take that same approach, which will make things a lot faster or easier for everyone. And it could play to our advantage because not everyone is as prepared as we are to operate in this multi-state, multi-regulatory environment environment. Assuming that the trend continues toward legalization in more states, what kinds of opportunities are you forecasting -- for DraftKings, and for other companies looking to capitalize on the new market?  "For us, we're a consumer-facing product so I think there are things people forget about -- March Madness brackets, Super Bowl squares -- that prior to this type of legislation you couldn't do online for money.

For the original version including any supplementary images or video, visit https://www.thestreet.com/technology/draftkings-ceo-explains-how-it-ll-tackle-legal-sports-betting-14714871

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