With the Kentucky Derby only a few weeks away, DraftKings has announced the launch of DK Horse, its first-ever horse betting app. The app will launch operations in 12 states, with further expansion to come during the Kentucky Derby in May 2023.
Thanks to the newly released app, DraftKings customers can now enjoy unrestricted access to pari-mutuel horse race wagering in eligible states. It is noteworthy that the DK Horse app is available through a partnership between DraftKings and Churchill Downs Incorporated.
The latter company is one of the foremost players in the US Horse racing industry. Through the official collaboration, Churchill Downs Incorporated will license its horse racing content and pari-mutuel rights to DraftKings.
Both companies flagged off their partnership back in November 2022 with a multi-year agreement that also involved TwinSpires, a subsidiary of Churchill Downs. TwinSpires had the obligation to provide its deposit wagering technology to be incorporated into DK Horse.
DraftKings Keeps Growing by Adding DK Horse
DraftKings is quite famous for its daily fantasy games and sports betting products. However, the emergence of DK Horse presents a new gambling market for the operator to tap into. Unlike regular sports wagering, which involves payout on fixed odds, parimutuel betting payout depends on the total amount wagered by every gambler. In essence, the odds for each bet are quite flexible.
The positive prospects for a pari-mutuel horse betting app owned by DraftKings are enormous. First, DraftKings will finally step up as a main competitor to FanDuel and BetMGM, both operators that have long-operated horse racing platforms. Through DK Horse, DraftKings will also tap into its large pool of 2.6 million active customers across its sportsbook and online casino operations.
Speaking about the new development, Jason Robins, CEO and Chairman of the Board of DraftKings, said:
“Together with Churchill Downs Incorporated, an industry leader with a deep-rooted history in horse racing, we will deliver an innovative, mobile customer experience. Our goal is to provide our customers with best-in-class sports and gaming products, and we expect DK Horse to provide a fun and new way to engage with renowned races like the upcoming Run for the Roses.”
Through the app, players will have access to wager on reputable horse races like the Kentucky Derby & Oaks. In addition, handicap races and live streaming of races will be available on the DK Horse app.
Guide to Navigating the DK Horse Betting App
One of the major features of the DK Horse is that it offers customers a guide detailing upcoming races and the different wagering options. Interestingly, DK Horse will be separate from the DraftKings Sportsbook.
In essence, players will need to download an independent app from the Google Play Store or Apple App Store on their respective devices. Unfortunately, bettors will not be able to link funds from their DraftKings Casino, Daily Fantasy, or Sportsbook apps under the “one account, one wallet” platform.
So, customers will have to deposit funds into new DK Horse accounts. New players can get to enjoy a $50 bet match bonus on settled bets of at least $50 within the first seven days of creating an account.
As a member of the American Gaming Association, DraftKings has assured customers and regulators of its commitment to the AGA’s responsible gaming campaign. The Have A Game Plan.® Bet Responsibly™ campaign seeks to teach players about responsible gaming practices like using only licensed operators and creating a budget for gambling.
DraftKings also stressed that the DK Horse will contribute to enabling players to create and innovate through its S.E.R.V.E.S. program. Many commentators believe that the DK Horse is timely, and with the Kentucky Derby drawing closer, the horse betting app can be properly tested. The Kentucky Derby is expected to attract at least $200 million worth of bets.
