DraftKings Hits the Lottery with the $750 Million Acquisition of Jackpocket
Once upon a time, DraftKings was a straightforward daily fantasy sports service in front of an unexplored boom. It developed into a major player in legal sports betting before entering the iGaming market, firstly with online casinos in New Jersey.
The business has now expanded its offering to include lotteries.
DraftKings just revealed in a press release that it had reached a deal to pay an astounding $750 million to purchase Jackpocket, which is regarded as the country’s top lottery courier service provider.
DraftKings’ CEO and co-founder, Jason Robins, said in a statement that the company is thrilled to join the quickly expanding US digital lottery market by acquiring Jackpocket.
He continued by saying that this deal will bring significant value to DraftKings, much like how the daily fantasy sports database gave DraftKings an edge in OSB and iGaming by offering customers another unique product to enjoy and increasing overall marketing efficiency.
The Purchase of Jackpocket Will Strengthen DraftKings’ Already Robust User Base
The Jackpocket NJ lottery app may already be well-known to many residents of New Jersey. It allows you to buy tickets for draw games like Powerball and Mega Millions without going to a New Jersey Lottery store.
According to the news announcement, DraftKings projects that by integrating Jackpocket into its portfolio, the platform would bring in an additional $260 million to $340 million by the end of its fiscal year 2026.
According to the press release, Jackpocket CEO Peter Sullivan said that the company will be able to provide significant value to its clientele in conjunction with DraftKings as it pursues its goal of developing a more practical, enjoyable, and responsible method for people to play the lotto.
