DraftKings has launched a $20-per-month subscription service, allowing users to access improved parlay odds. The new service, first reported by Sportico, offers bettors a significant edge.

Maximum 100% Boost on Parlays

The subscription, called DraftKings Sportsbook+, is currently available exclusively in New York. Subscribers receive unlimited “Stepped Up” Boost Tokens, which become accessible within 30 minutes of subscribing. These tokens can be applied to parlays and same-game parlays, providing a potential maximum profit boost of 100% for winning parlays with 11 or more legs.

A First in Sports Betting

DraftKings is the first sportsbook to introduce a subscription-based offering. Quietly launched on December 28, the service aims to enhance user experience and increase value for parlay enthusiasts.

Addressing High Tax Rates

The launch may also signal DraftKings’ strategy to navigate high-tax jurisdictions like New York, where sportsbooks face a staggering 51% tax rate. CEO Jason Robins previously hinted at exploring alternative revenue models in states with hefty tax burdens.

In 2023, DraftKings briefly floated the idea of taxing winning bets in high-tax states but abandoned the proposal after backlash.

Parlay Popularity on the Rise

DraftKings has not announced plans to roll out the service in other states, but it highlights the growing popularity of parlay bets. These wagers, often considered long shots, have become highly profitable for sportsbooks, thanks to heavy marketing from major operators like DraftKings, FanDuel, and BetMGM.

According to Flutter Entertainment, the parent company of FanDuel, more than 262 million same-game bets were placed globally in Q4 2023, a 75% increase compared to the same period in 2022.

The new subscription offering could further capitalize on this trend, giving bettors a chance to enhance their winnings while adding to DraftKings’ revenue streams.

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