DraftKings to launch DK Horse on Churchill Downs platform

Churchill Downs’ TwinSpires will provide deposit wagering technology to DraftKings.

US.- Churchill Downs Incorporated (CDI) and DraftKings have announced a multi-year agreement that will allow the latter to provide pari-mutuel wagering on horse racing. CDI’s online horse racing wagering platform TwinSpires will provide deposit wagering technology to DraftKings, which will launch DK Horse in May 2023.

DK Horse will require customers to deposit funds separately from that of the DraftKings Sportsbook, casino and daily fantasy sports apps. It will launch ahead of the 149th running of the Kentucky Derby, initially in 21 states, pending regulatory approval.

CDI will provide DraftKings with pari-mutuel wagering rights to its horse racing content, including the Kentucky Oaks and Kentucky Derby. It will also secure additional horse racing content.

Jason Robins, CEO and chairman of DraftKings, said: “We are excited to collaborate with Churchill Downs Incorporated, not only to give our existing customers an opportunity to engage with pari-mutuel horse wagering, but also to acquire new customers efficiently during marquee horse racing moments. Due to the structure of the agreement, we expect this new product offering to be immediately profitable.”

Bill Carstanjen, CEO of CDI, added: “We believe the depth and quality of our online offering through TwinSpires is unmatched in horse racing. We are excited to establish this relationship with DraftKings and to deliver a full end-to-end white label ADW solution that will introduce their significant base of sports betting customers to horse racing wagering.”

Earlier this year, Churchill Downs Incorporated announced that the company had completed its purchase of Ellis Park Racing & Gaming in Henderson, Kentucky for $79m. More recently, the New York State Gaming Commission has unanimously approved a casino licence for CDI’s Del Lago Resort and Casino in Tyre, which CDI bought as part of its buyout of Peninsula Pacific Entertainment (P2E).

The del Lago Resort and Casino in Waterloo features a 96,000 square foot casino with approximately 1,700 slot machines, 80 table games, a 205-room hotel, a 6,000 square foot sportsbook area, a 2,400-seat entertainment venue and a 7,200 square foot outdoor event venue.