The logo of the sports betting company DraftKings is displayed on a smartphone screen.
Budrul Chukrut | Light rocket | Getty Images
DesignKings is raising the bar.
The sportsbook is testing a new subscription service called DraftKings Sportsbook+, designed to offer paying customers an increase in odds.
The $20-per-month subscription service quietly launched on December 28 for select customers in New York and offers participants an up to 100% profit boost when winning parlays. For example, a two-leg parlay gets a 10% boost, a six-leg parlay gets a 50% boost, and an eleven-leg parlay gets the full 100% boost. The maximum eligible bet is $25.
New York provides a strong testing ground for DraftKings as one of the best performing markets for online gaming.
The company could also try to help offset taxes in the Empire State. Sports betting taxes in New York are 51%, comparable to New Hampshire's highest rate.
In August, DraftKings announced it would change course after announcing it would impose a small tax on customers in states with multiple operators and a tax rate above 20%.
Others in the industry will be watching closely: DraftKings appears to be the first US operator to launch a subscription service. Parlays, where bettors bet on more than one event at a time, are a profitable and growing area for sportsbooks.
In a statement, DraftKings said the subscription service is designed to provide customers with an enhanced fan experience by “creating more excitement and value for our extensive parlay offering.”
The news was first reported by Sportico.
The company did not say how many users have signed up so far.
DraftKings offers the first month free, after which the subscription starts.
While the subscription is currently only available in New York, DraftKings said it will consider whether to offer the service in other states.