DraftKings to roll out pari-mutuel horse wagering in partnership with TwinSpires
DK HORSE to launch ahead of 2023 Kentucky Derby on Churchill Downs-powered platform
DraftKings is developing a pari-mutuel horseracing product in tandem with Churchill Downs Incorporated (CDI) that will allow DraftKings users to wager on premier events such as the Kentucky Derby in 2023 and beyond.
The partnership with CDI will see its subsidiary, TwinSpires, provide its online horseracing wagering platform to DraftKings, which will leverage the technology to power a standalone pari-mutuel betting app, DK HORSE.
“We are excited to collaborate with Churchill Downs Incorporated, not only to give our existing customers an opportunity to engage with pari-mutuel horse wagering, but also to acquire new customers efficiently during marquee horseracing moments,” said DraftKings CEO Jason Robins.
DK HORSE, which will launch in the coming months, will debut as a standalone app, meaning existing DraftKings users – be it sportsbook, daily fantasy, or igaming – will be required to create a separate account for the horseracing product.
DraftKings intends to fold DK HORSE into its full product suite at some point in the future.
Powered by TwinSpires’ tech stack, DK HORSE will offer pari-mutuel wagering for all horseracing events owned or controlled by CDI, including the Kentucky Oaks and Kentucky Derby. CDI will also secure additional horseracing content on behalf of DraftKings.
“We believe the depth and quality of our online offering through TwinSpires is unmatched in horseracing,” said CDI CEO Bill Carstanjen.
“We are excited to establish this relationship with DraftKings and to deliver a full end-to-end white label ADW solution that will introduce their significant base of sports betting customers to horseracing wagering.”
Under the multi-year partnership with CDI, DraftKings will be able to offer DK HORSE to users in 21 states, pending regulatory approvals.