Jason Robins

Jason Robins co-founded DraftKings in 2012 as a daily fantasy sports platform and has led its transformation into one of America's two dominant online sports betting and iGaming companies. The 2018 US Supreme Court decision striking down the federal ban on sports betting (PASPA) opened the door for state-by-state legalization, creating an entirely new industry that is expected to exceed $30 billion in annual revenue. DraftKings operates as the #2 US sportsbook behind FanDuel (owned by Flutter Entertainment), with market share in the mid-20% range. The company offers mobile sports betting in 25+ states and iGaming (online casino) in select states where it is legal — notably Michigan, New Jersey, Pennsylvania, and Connecticut. iGaming, though available in fewer states, is actually more profitable per customer than sports betting due to higher hold percentages. Robins has invested heavily in technology (DraftKings rebuilt its own in-house technology stack after initially relying on third-party platforms), customer acquisition (aggressive promotional spending that has gradually moderated), and product innovation (same-game parlays, live betting, casino integration). Key stock drivers include state legalization progress (particularly large states like Texas, California, Florida for sports betting and new states for iGaming), customer acquisition costs, hold rate improvements, promotional spending moderation, iGaming expansion, competitive dynamics with FanDuel and BetMGM, regulatory developments, and the path to sustained positive free cash flow.