DraftKings is a Boston, MA, daily fantasy sports contest provider. The company allows users to enter daily and weekly fantasy sports-related contests and win money based on individual player and team performances in major American sports including MLB, the NHL, the NFL, the NBA and the PGA, Premier League and UEFA Champions League soccer, NASCAR auto racing, Canadian Football League, Mixed Martial Arts (MMA), as well as American college football and college basketball. As of December 2015, DraftKings was under investigation by state and federal authorities in the United States following allegations that insiders were able to earn money on rival sites using player information. The FBI opened a related inquiry to better understand the business practices of daily fantasy sports companies. DraftKings was established in 2012 by Jason Robins, Matthew Kalish, and Paul Liberman, former VistaPrint executives. The company initially operated out of Liberman's house. The company's first product was a one-on-one baseball competition, launched to coincide with Major League Baseball’s opening day in 2012. DraftKings.co.uk officially launched as a mobile app for players in the UK to join and play. DraftKings is legal for anyone 18 or older in every state that allows season-long fantasy, with the exception of Nevada, which ordered daily fantasy sites to acquire a gaming license before resuming operation. DraftKings and all other DFS sites said in October 2015 that they had stopped operating there. DFS is also illegal or in murky legal territory in Arizona, Iowa, Louisiana, Montana and Washington. DraftKings also operates in Canada and has a license to operate in the United Kingdom, with a launch in the UK scheduled for some time in 2014.Although it allows contestants to win money on sporting events, the United States government does not consider it a form of gambling. Unlike season-long fantasy sites, DraftKings offers daily and weekly contests, giving contestants a chance to win instant cash prizes without a season-long commitment. DraftKings offers daily contests for the NFL, Major League Baseball, soccer (English Premier League and Major League Soccer), PGA Tour, NASCAR and UFC/MMA. College football, college basketball, NBA and NHL contests will be available when those seasons begin. Contestants can enter fantasy games with entry fees as low as 25 cents or as high as $10,000. The payouts for those contests depend on the entry fee, among other factors, and vary widely. Once you’re entered in a contest, you’ll be assigned a fixed salary cap of $50,000 to fill your lineup. Pick the players you want on your team and when you’re happy with your lineup, submit it. The better your selected team does, the more cash you’ll earn. Each sport has different lineup and scoring parameters, which can be found on the DraftKings website.
Founded in 2012, DraftKings has quickly risen to one of the two most-frequented sites in the industry. With an outstanding interface, particularly in the mobile genre, DraftKings is the destination for a lot of daily fantasy players, both veteran and novice. When playing on DraftKings, you’ll need to tailor your strategy to the specific sport you’re playing, conforming to optimize your lineups for DraftKings’ scoring and starting requirements. Even before doing that, however, it’s important to understand the site from a broader picture, including their league types, payout structures, and late swap feature. Inaddition to all of the standard head-to-heads, 50/50s, three-man leagues, GPPs, and so on, DraftKings also has a couple league types that aren’t as common in daily fantasy sports. One of those is a multiplier, also known as a booster. Many sites have double-ups and triple-ups, but DraftKings has boosters that allow you to quickly multiply your bankroll, including 5x and 10x boosters. Your strategy for multipliers needs to be fluid because the proper way to approach them depends on the payout structure. The lower the number of entrants who get paid in any particular league, the more upside you need to win. In a triple-up (or 3x booster), you don’t necessarily need a whole lot of upside. You can play a high-floor team much like what you’d play in a heads-up league and you’ll be good to go. The second type of league that’s unique to DraftKings is known as a “steps tournament.” Steps tourneys have four separate levels, or steps, and you can cash only if you win Step 4. Each level costs more and more to enter, but you can win entries into higher levels. On DraftKings, you can sub out any player for any other player whose game has not begun. This can have pretty significant effects on your strategy. The most obvious is that it’s easier to remove late scratches, which is probably why the feature was added.