DraftKings launches Sportsbook+ subscription service in New York

DraftKings has introduced a new subscription-based service, DraftKings Sportsbook+, in New York, offering bettors enhanced odds on parlay bets. Priced at $20 per month, the service targets select eligible customers and aims to enhance the betting experience while driving higher-margin wagers for the company.  

Subscribers to Sportsbook+ gain access to "stepped-up" odds boosts on parlays where individual legs have odds of -500 or narrower. The profit boost starts at 10% for two-leg parlays and increases to 100% for parlays with 11 or more legs, effectively doubling the potential payout. Additionally, users can enjoy unlimited boosts, a feature uncommon in U.S. sports betting.  

“The subscription service was designed to offer our customers an enhanced fan experience, creating more excitement and value to our extensive parlay offering,” DraftKings said in a statement.  

The service aligns with DraftKings’ broader strategy to increase the adoption of parlay bets, which require all legs to hit for a payout but deliver higher profit margins for the sportsbook. CEO Jason Robins has previously emphasized the company’s focus on growing its parlay mix and average leg count.  

“Certainly, we feel like there’s a ton of room to increase our parlay mix and increase our average leg count still. The team is very focused on that,” Robins said during a Q2 earnings call.  

DraftKings has already seen success with similar initiatives, such as the progressive parlay product launched in December 2023, which offers partial payouts if some picks miss.

“Structural sportsbook hold percentages increased year-over-year as customers continued to enjoy our parlay offerings,” CFO Alan Ellingson noted during the company’s Q3 call.  

Odds boosts are also seen as a critical tool for customer retention, helping reduce churn and build loyalty. By offering unlimited boosts, Sportsbook+ seeks to strengthen DraftKings' competitive edge in an increasingly crowded market.