DraftKings’ casino jackpots soared to $11.73 million in the month of May, with several states registering the highest payouts. With the company’s operations present across different states, Pennsylvania actually led the way, producing the most jackpot winners.

15 People Win Multiple Jackpots from DraftKings Casino in May

A total of 15 jackpots were won, with the most jackpot winners coming from Pennsylvania’s corner. Five winners were able to draw six-figure wins, including two seven-figure wins across a variety of games. Players won the following paydays in the Keystone State in May:

• Phoenix Fa– $1,130,005.24
• 10,001 Nights Megaways – $1,113,257.45
• Assassin Moon – $892,013.68
• Ultimate Fire Link Olvera Street – $767,164.55
• Divine Riches Diana – $706,666.36

Yet, a player from New Jersey took the biscuit, winning the month’s highest prize from DraftKings jackpots. The player won on Atomic Meltdown, bagging $1,504,527.85 in the process. The second largest jackpot scored in the Garden State was on Double Fancy 7s, $847,451.54.

A third jackpot dropped in the state on Fortune Coin, although arguably far more modest – only $445,443.54. DraftKings also saw four jackpots drop in Michigan, where a lucky player won $794,441.25 from Cleopatra. Three other players scored on Ultra Blazing Fire Link, Blackjack 4 Live, and 10,000 Wonders 10K Ways bringing home $576,163.80, $499,553.21, and $415,009.51 respectively.

Two players also won in West Virginia, bringing home American Treasures ($471,061.99) and Cash Falls Pirate’s Trove ($356,380.65). Another big jackpot dropped in Ontario, where a player bagged $311,131.62 from DraftKings Multihand Blackjack.

DraftKings is habitually running the numbers of its big winners, in a bid to raise awareness for its products and properties, but also to demonstrate its generosity. This is not the biggest month DraftKings has on record paying jackpots, but it comes close to one of its busiest.

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DraftKings, the famous North American sports betting operator, has launched its online sports betting platform in North Carolina starting on March 11 after having secured a written designation agreement with NASCAR earlier this year.

The respective written designation agreement was necessary for the sports betting operator in order to be allowed to offer its services in the state of North Carolina. The launch marks an important moment for DraftKings as the operator now has its sports betting service available in 27 American states. Moreover, the sports betting website is also available in Ontario, the most populous province in Canada.

North Carolina is a very important state when it comes to sports because it is the home state of most of the NASCAR industry and it also has high-profile professional teams in all the major North American leagues: the National Football League (NFL), the National Basketball Association (NBA) and the National Hockey League (NHL). Moreover, North Carolina has several universities competing at the Division-I level, attracting plenty of sports fans.

From now on eligible sports fans in the state will be able to place their bets on the DraftKings online sportsbook, which provides a wide range of markets and offerings, including same-game parlays, in-game betting and special odds boosts.

DraftKings underlined that its sportsbook platform in North Carolina is “safe and regulated”, offering plenty of customer protections like deposit and time limits, full access to responsible gaming resources and self-exclusion features. Moreover, DraftKings offers the new “My Stat Sheet” feature, which shows punters the exact amount of time they spent on the sports betting website and also the total amount of deposits made.

Ceremonial First Bet

The launch of legalized mobile sports betting in North Carolina is a memorable occasion and sports fans in the state will most likely remember it for quite some time as Greg Olsen, the legendary Carolina Panthers player, was designated to place a ceremonial first bet.

The event was hosted by the NASCAR Hall of Fame in Charlotte and along with Greg Olsen it benefitted from the participation of Zack Hawkins, a North Carolina State Representative Zack Hawkins, and Jeremy Elbaum, the Chief Commercial Officer of DraftKings.

DraftKings started out in 2012 and it was founded by Jason Robins, Matt Kalish and Paul Liberman. The company is headquartered in Boston and it offers online sports betting services and daily fantasy sports products.

Source: “DraftKings Set to Launch Mobile Sports Betting in North Carolina on March 11“, DraftKings. March 7, 2024.

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The leading North American sports betting and iGaming operator, DraftKings, released its latest financial report. On Thursday, the company disclosed details regarding its performance for the fourth quarter and fiscal year 2023, highlighting a significant increase in revenue.

DraftKings’ latest unaudited report reveals that its revenue for 2023 hit $3.67 billion. This result, compared to the $2.24 billion figure posted for the fiscal 2022 shows an increase of nearly 64% year-over-year.

Besides year-over-year, the company posted exceptional results during the fourth quarter as well. In Q4 2023, DraftKings’ revenue soared to $1.23 billion. A comparison to the $855 million reported for the same period in 2022 shows an increase of $376 million or 44%.

The company explained that the result comes after a “continued healthy customer engagement, efficient acquisition of new customers, the expansion of the Company’s Sportsbook product offering into new jurisdictions, and product innovation leading to increased parlay mix and thus higher structural sportsbook hold percentage.”

The fourth quarter marked an uptick in the number of monthly unique players (MUPs). The latest trading update reveals that DraftKings’ MUPs in Q4 increased by 37% year-over-year to 3.5 million. DraftKings said that this uptick highlights strong customer retention and acquisition rates for its iGaming and sportsbook products. Moreover, the company acknowledged that its expansion into new jurisdictions positively impacted the number of MUPs.

The Company Ends 2023 with Excellent Results

Jason Park, DraftKings’ chief financial officer, revealed that the latest results underline the company’s ongoing commitment to implementing operating efficiencies and delivering strong revenue growth. In light of the exceptional performance for the fourth quarter and the first six weeks of 2024, he confirmed that the company updated its revenue guidance.

Park explained: “We are raising the midpoint of our fiscal year 2024 revenue guidance range to $4.775 billion from $4.65 billion and the midpoint of our fiscal year 2024 Adjusted EBITDA guidance range to $460 million from $400 million.” Finally, the chief financial officer said DraftKings anticipates 2024 will be its first full year of positive adjusted EBITDA.

“DraftKings ended 2023 with excellent performance across customer acquisition, retention and engagement as well as structural sportsbook hold percentage despite the worst stretch of sport outcomes we have seen as a public company in the fourth quarter.“

Jason Robins, CEO at DraftKings

Jason Robins, DraftKings’ CEO, also highlighted the strong results posted by the company for the last quarter of 2023. He said that despite challenges related to the outcome of sports events, DraftKings demonstrated strong customer engagement and retention. Focusing on 2024, Robins predicted that the company would keep the focus on its customers while growing the reach of its products and delivering supreme services.

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On February 11, the “inventor” of Barstool Sports, Dave “El Presidente” Portnoy, used his social media to make the big announcement regarding the new multi-million-dollar partnership that his company and DraftKings have agreed upon.  

Portnoy, who is also the owner of #DDTG Global and a “Brick Watch Man” and “2-time bee sting survivor” as he describes himself on his X (former Twitter) account, officially confirmed that the two companies have completed the multi-year sports betting media partnership, a deal that was initially reported by Sportico in January. 

His X message said “We’re back to our roots. DK is once again the exclusive sports betting partner of Barstool Sports. The more things change, the more they stay the same.”

The Partnership, Completed at the End of the Super Bowl

The agreement could only be completed after the Super Bowl came to an end, with the Kansas City Chiefs edging the San Francisco 49ers. 

The reason was a non-compete clause that Barstool Sports had to respect. The clause referred to the closing of the company’s relationship with PENN Entertainment after the operator decided to give up on its Barstool Sportsbook in favor of a new partnership with ESPN.

PENN paid $1.5 billion to obtain the licensing rights for ESPN Bet. 

In August 2023, the most innovative provider of gaming entertainment in North America sold 100% of outstanding Barstool Sports shares to Portnoy after inking an agreement with ESPN to rebrand their current sportsbook while eliminating Barstool from the equation. 

Originally, PENN acquired a stake in Barstool in 2020, gaining complete control in February 2023 in a deal valued at $551 million that was paid over two tranches.

First on the List, a Free-Throw Challenge

The “multi-year monster deal with DraftKings,” as Portnoy called it, will first lead to the latter along with various other Barstool Sports personalities including Dave, Big Cat, Hank, Jersey Jerry, Steven Cheah, Rico Bo$co, Mark Titus, Brandon Walker, Big T, Kirk, and other Bullpen members from participating in a free-throw challenge.

The goal of the event has been set to 41 made free throws in a row, which is the National Basketball Association’s Record for most free throws in a row. 

The event will be commented on by PFT commenter Nick Turani and KB. During each new round, Portnoy and Dan will pick five participants to join them as a team and try to reach the 41 throws in a row. 

Each team member must complete at least two free throws and up to 10 free throws. Portnoy will need to hit the 15th, 30th, and 41st free throws. 

The group will start with 75 mulligans. Once all are used, the group will only receive one extra mulligan every three rounds.  

The challenge will be streamed live and incorporate a series of questions that viewers will need to answer based on what they think will happen during the stream.

Those viewers who answer the most questions correctly win a share of the set $100,000 prize pool.

Elsewhere, DraftKings executives Jason Robins, Paul Liberman, and Stanton Dodge sold close to $78.8 million worth of stock before the release of the company’s fourth quarter and 2023 results. 

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Michael Z. Hermalyn, Fanatics VIP president and former SVP of growth at DraftKings, was temporarily prohibited from disclosing any sensitive information obtained from his former employer to his new employer. The temporary restraining order was issued on Thursday and while it restricted Hermalyn from using any confidential information or soliciting with DraftKings employees or clients, he was not prohibited from working at Fanatics.

Last week, Hermalyn, filed a lawsuit against his former employer. In his legal claim, the executive challenged a non-compete policy he signed off on with DraftKings. Hermalyn alleged that the policy was overly restrictive and unenforceable for California where he currently resides. The legal action was filed after he resigned from the leading betting and gaming operator.

Responding to the claim, DraftKings alleged that its former employee conspired with his new employer, agreeing to obtain insider information. Allegedly, this information was related to the upcoming Super Bowl and contained marketing plans that may benefit Fanatics and negatively impact DraftKings. Not unexpectedly, Fanatics VIP denied those allegations, labeling them “false and fabricated,” as well as “wrong and disappointing.”

Hermalyn’s Defense Denies Wrongdoing

The latest part of the legal saga effectively restricts Hermalyn from sharing any confidential information with Fanatics. The order came from US District Judge Julia Kobick after an hour-long hearing in Boston, Massachusetts. Justifying her decision, the Judge explained that there was sufficient evidence for the need for such a temporary restraining order, adding that she wanted “to preserve the status quo until more of the facts can be determined,” as announced by The Boston Globe.

Under the order, Hermalyn was also directed to return any confidential information belonging to DraftKings within three days and submit in written form details regarding any confidential information belonging to the company that may have been disclosed to third parties.

During the latest hearing, Hermalyn’s defense layer, Russell Beck, rejected claims of any wrongdoing. He added that his client returned all computer equipment belonging to his former employer. The temporary restraining order is likely to remain in effect through April when a hearing for DraftKings is scheduled.

“We are pleased that the judge granted a temporary restraining order in favor of DraftKings ordering Mr. Hermalyn not to solicit DraftKings employees or customers, and not to use any confidential company information,“

explains a spokesperson for DraftKings

A spokesperson for DraftKings revealed that the company is pleased with the recently granted temporary restraining order for Hermalyn. They acknowledged the importance of the order that would prevent the former employee from using any confidential information or soliciting with DraftKings’ current customers or employees.

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A former DraftKings executive is challenging non-compete agreements he signed with his employer. The legal case, filed by Michael Z. Hermalyn, Fanatics VIP’s president and former senior vice president of growth at DraftKings, was filed Thursday. In his lawsuit, the executive argues that the non-compete policies he agreed to with his former employer are unenforceable and overly restrictive in California.

Hermalyn initially joined DraftKings back in September 2020. His former employer learned about the lawsuit shortly after he submitted his resignation recently. Per Hermalyn’s non-compete agreement with DraftKings, he is not allowed to engage in employment within the gaming and betting vertical, an industry where he spent nearly two decades, a report released by Daily Journal reveals.

Additionally, Hermalyn is prohibited from working in gaming and fantasy sports along with other related industries or communicating with former co-workers or clients under a 12-month non-compete clause in his contract. Ultimately, the plaintiff anticipates a court’s decision that would enable him to void the aforementioned non-compete clauses, allowing him to engage in further employment in the sector.

“These sweeping provisions purport to prohibit Mr Hermalyn from being employed in the betting and gaming space in which he has worked for 16 years, from engaging in any work pertaining to fantasy sports, betting and gaming, and other various industries, and from communicating with his former clients and co-workers,“

reads the lawsuit filed by Michael Hermalyn

Supporting his statement that the non-compete clause is unenforceable, Hermalyn explained that before filing the lawsuit, he relocated his domicile to Los Angeles, California, where he entered into a rental agreement for an apartment and purchased a car. Moreover, Hermalyn said he plans to relocate his children to Los Angeles.

The Betting and Gaming Giant Responds to the Lawsuit

The leading betting and gaming company argued that Hermalyn’s lawsuit wasn’t filed properly in California. DraftKings cited a clause in the former employee’s contract where he agreed that a Massachusetts court would be in charge of litigation of disputes.

As a result, the gambling operator moved the case to the federal court, the US District Court for the Central District of California. In its response to Hermalyn’s legal claim, DraftKings asked the court to deny the plaintiff’s request. Moreover, the operator disputed the former employee’s “factual allegations.”

Recently, a young adult who engaged in cyber fraud against DraftKings dating back to 2022 was sentenced to 18 months in prison. The sentence came after the 19-year-old male pleaded guilty.

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Joseph Garrison, one of the youths who staged cyber fraud involving DraftKings Sportsbook accounts in 2022, has pleaded guilty, accepting an 18-month prison sentence.

The 19-year-old was involved in a credential surfing attack. Along with other conspirators Garrison exploited system vulnerabilities to steal $600,000 from DraftKings users whose credentials had been stolen in other data breaches.

In total, over 1,600 sports betting accounts were affected. Garrison allegedly bragged to friends about the cyberattack, telling them that “fraud is fun.”

The cyberattack not only hurt many victims but also undermined confidence in DraftKings’ ability to protect its customers. As a result, the young man had to receive a sentence that reflected the caliber of the crime. According to attorney Damian Williams, “The sentencing underscores the urgent need for vigilance and the critical importance of our collective efforts in combating cyber threats and safeguarding digital integrity.”

Garrison Will Spend 3 Years on Supervised Release

As mentioned, Garrison is set to serve 18 months in prison. Following that, he will spend three years on supervised release.

In addition to his time in prison, Garrison will have to pay $1.3 million in restitution and $175,000 in forfeiture.

The DraftKings incident, however, is not the only time Garrison has been involved in legal trouble. The young man currently has a legal matter in Wisconsin where he allegedly used Bitcoin to pay another party that would call in several bomb threats to his school.

Two of Garrison’s Co-Conspirators Were Arraigned

In the meantime, Nathan Austad and Kamerin Stokes, two of Garrison’s alleged conspirators, were just arrested and arraigned. The latter allegedly paid Garrison to gain access to DraftKings Sportsbook accounts and then re-sold them online.

Austad, on the other hand, leveraged artificial intelligence to promote a shop of stolen user accounts. In addition to that, he allegedly managed cryptocurrency wallets that received approximately $465,000 in proceeds from credential-stuffing attacks and the sale of compromised data.

As a result of their alleged participation in the conspiracy, the two youths risk up to 20 years in prison.

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Basketball powerhouse LeBron James is joining DraftKings’ team as a talent ambassador, the American betting operator announced. While best known for his basketball prowess, King James’ partnership with the gambling juggernaut will actually be centered on football.

According to the announcement, the multi-year agreement will see the Los Angeles Lakers star participate in a variety of football activations centered on select key tentpole events. This latest football venture will see James, who is prohibited from discussing the NBA under the terms of his agreement, leverage his understanding of the professional sports sector as a whole.

James is, admittedly, no stranger to football himself. Prior to his foray into the world of professional basketball, the King played football for two years for St. Vincent-St. Mary High School in Akron, Ohio.

A Union of the Crowns

LeBron James commented on his new venture on X, where he shared a promotional photo of himself under DraftKings’ signature crown. Using emoji, he implied that this is a partnership between kings and added:

Football season just got A LOT more fun. Let’s go!

LeBron James

Meanwhile, Jason Robins, DraftKings’ board chair, welcomed the basketball star to the DraftKings family. Robins lauded King James as “one of the most influential athletes of all time” and said that the current deal is an “absolute honor and privilege” for his team.

Robins added that he cannot wait to work with such an outstanding athlete who reflects the operator’s love for sports.

We look forward to working with a passionate sports fan who shares the same competitive mindset that echoes throughout the walls at DraftKings, while delivering exciting engagement opportunities to our customers and his loyal fanbase for years to come.

Jason Robins, chair, DraftKings

Other Fresh DraftKings News

LeBron James isn’t the only new addition to the DraftKings family. A few days ago, the gambling giant also added the experienced Marie Donoghue as its new chief business and growth officer. In her new role, Donoghue was tasked with overseeing different internal processes and leveraging her extensive experience to help DraftKings grow.

An earlier report, meanwhile, implied that a tie-up between DraftKings and Barstool Sports is in the works. People familiar with the matter implied that this deal is set to be a game-changer.

In other news, two individuals were just indicted for participation in a recent cyberattack on DraftKings. If convicted, they could face up to 20 years in prison.

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Two individuals, Nathan Austad, 19, of Farmington, Minnesota, and Kamerin Stokes, 21, of Memphis, Tennessee, have been indicted for their roles in the November 2022 DraftKings cyberattack. They allegedly misused the illegally obtained data for personal gain, selling confidential information and inflicting damage on the operator and its clients. Joseph Garrison, a third co-conspirator, has already pleaded guilty.

The FBI Presented Substantial Evidence

Austad and Stokes, arrested on 29 January, face charges including conspiracy to commit computer intrusion, unauthorized access to a computer, wire fraud, wire fraud conspiracy, and aggravated identity fraud. If convicted, they could face up to 20 years in prison. Their attack targeted roughly 60,000 DraftKinds accounts, gaining illegal access via other data breaches.

The attackers used various tactics, including registering new payment methods, to withdraw funds from victim accounts. They also sold access to the compromised accounts in bulk through underground shops, some of which they directly controlled. Stokes reportedly purchased access to accounts in bulk from Joseph Garrison, a third co-conspirator, amounting to over $125,000 in total value, and sold them via his online shop. 

Stokes advertised the compromised accounts on his shop through Instagram, contributing to the FBI’s investigation into the case. Authorities highlighted Austad’s use of artificial intelligence image generation tools to create images promoting his shop of stolen user accounts. Additionally, he managed cryptocurrency wallets that received approximately $465,000 in proceeds from credential-stuffing attacks and the sale of compromised data.

Gambling Operators Must Swiftly Adapt to Such Threats

Joseph Garrison, a core member of the hacking group, was indicted on 18 May 2023 for his involvement in the scheme. Garrison had already surrendered and pleaded guilty in November, awaiting sentencing on 1 February. Austad, Stokes, Garrison, and other collaborators are estimated to have collectively stolen about $600,000 from approximately 1,600 victim accounts.

DraftKings has reimbursed all the stolen money from customers, noting that the security of clients’ personal and financial information was vital to the company. The operator is another high-profile victim of cyberattacks and has taken extensive measures to prevent similar occurrences. Such attacks can have more than just a financial cost, damaging the company’s reputation.

Cyberattacks are growing increasingly more sophisticated, targeting all manner of businesses and posing a great risk to economic security.

FBI Assistant Director in Charge James Smith

This incident highlights the ongoing threats and challenges for online platforms, especially those in the gambling and fantasy sports sectors. Credential stuffing attacks remain a significant risk, emphasizing the need for robust security measures and user education to prevent unauthorized access to accounts. Hopefully, more operators will take notice of this case and take preemptive action, ensuring the safety of their customers.

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Ahead of Super Bowl LVIII, one of the most anticipated football events across the United States, TUMS, an antiacid brand, joined forces with DraftKings, the leading betting and gaming operator, for the launch of TUMS Prop Bites, a new free-to-play game. The game, described as a “first-of-its-kind platform where fans can make their free food picks and see how they stack up against the rest of the nation,” offers a chance for lucky players to win a share of a $10,000 prize pool.

Players of TUMS Prop Bites can try their luck and pick which foods are at the heart of America’s hearts and stomachs. The free-to-play game launched earlier this week and will be available through February 11, 2024, the date that marks the start of Super Bowl LVIII, also known as the Big Game. Bettors and sports fans alike who would want to try their luck can do so before kickoff. Once the Super Bowl starts, the TUMS Prop Bites will close.

To ensure more entertainment for Super Bowl and football fans, DraftKings and TUMS organized a kicking-off Big Game Weekend. The duo agreed to host the TUMS Prop Bites Food Casino at Circa Stadium Swim in Las Vegas.

The exciting event will take place on February 9, 2024, between 12 PM and 6 PM and will feature Desus Nice, the famous comedian. Guests who attend the event will be able to participate in games for free which would grant them a shot at winning different prizes.

Besides participating in the TUMS Prop Bites Food Casino, the famous comedian was designated as the Official TUMS Prop Bites Tipster. He will engage in different social media activations and digital content, ahead of the Big Game.

The Game Promises Exceptional Experiences for Sports and Food Fans Alike

Jay Danahy, DraftKings’ head of brand partnerships and operations, spoke about the importance of the Super Bowl for the company every year. He added that DraftKings is thrilled to team up with TUMS and release TUMS Prop Bites, a free-to-play game that lets “food fans get in on the competitive action on game day and leading up to it.” Last but not least, Danahy pointed out: “Food is a key part of the Big Game experience for fans watching at home and TUMS Prop Bites creates an authentic extension of what DraftKings is all about, providing customers with more ways to engage with the events they love.”

Jissan Cherian, TUMS’ senior director, digestive health, was similarly thrilled regarding the new collaboration with DraftKings. He said that the new game offers another form of entertainment for football fans, in addition to their favorite foods. Finally, Cherian reminded that TUMS helps fans by offering relief from heartburn.

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