DraftKings released a new subscription service this week catered to customers who are wanting higher parlay boosts. However, the sportsbook’s new “plus” service is currently available to only New York residents.
DraftKings subscription service will give subscribers unlimited “Stepped Up” boost tokens to use on parlays, same-game parlays
Anyone outside the market cannot access the new service. The company did not mention any other eligibility requirements. Although subscribers pay $20 monthly, the sportsbook is giving away a free trial with a special code.
“We are excited to present select, eligible customers in New York with the opportunity to try DraftKings Sportsbook Plus – a premium subscription service that offers participants up to a 100% profit boost on all winning parlays. The subscription service was designed to offer our customers an enhanced fan experience, creating more excitement and value to our extensive parlay offering,” A DraftKings spokesperson told SportsCasting.
The service gives subscribers unlimited “Stepped Up” boost tokens to use on parlays and same-game parlays. The maximum wager is $25, and the max boost is 100% on 11 or more legs.
The tokens provide the following boosts for winning parlays:
- 2 legs: 10%
- 3 legs: 20%
- 4 legs: 30%
- 5 legs: 40 %
- 6 legs: 50%
- 7 legs: 60%
- 8 legs: 70%
- 9 legs: 80%
- 10 legs: 90%
- 11 or more legs: 100%
Revenue generated from subscription costs will not be subject to the same 51% tax rate in New York
DraftKings emphasized the importance of improving its parlay system in the past. Company executives said in a letter to investors in November that the multi-leg bet handles continue to improve. This is resulting in better hold percentages.
“Notably, our NFL parlay handle mix is pacing more than 500 basis points ahead of the 2023-2024 season,” DraftKings said in the letter. “We also expanded our in-house Same Game Parlay offering to more than 50 new NBA markets.”
According to multiple reports, the revenue derived from these subscription costs will not be subjected to the same 51% sports betting tax rate DraftKings currently pays in New York.
DraftKings previously debuted its “progressive parlay” in November 2023. Similar to traditional parlays, progressive parlays allow bettors to choose multiple selections for a single wager.
Additionally, gamblers can make over/under picks for three to 12 legs and pit them against the house. Unlike other parlays, the bettor can still win money if one of the legs doesn’t hit.
