DraftKings has launched a new subscription service called DraftKings Sportsbook+, which debuted in New York.
DraftKings introduced the new service at the end of December. Priced at $20 per month, the service offers “stepped-up” odds boosts on all parlays.
On its website, DraftKings said its new “plus” service is only available to “select customers” who are physically located in the state of New York.
The service gives players boosted returns on parlays where individual legs are -500 or narrower.
For two-leg parlays, DraftKings increases profits by 10%, while larger parlays with 11 or more legs can see profits double.
“The subscription service was designed to offer our customers an enhanced fan experience, creating more excitement and value to our extensive parlay offering,” DraftKings said in a statement.
The company did not specify other eligibility requirements or when DraftKings Sportsbook+ might expand beyond New York.
Increasing parlay adoption
The launch of the service aligns with DraftKings’ ongoing goal of increasing parlay adoption and boosting the average number of legs per parlay.
DraftKings’ “progressive parlay” product, introduced in December 2023, also supports this initiative by allowing bettors to receive payouts even if some picks within a parlay fail.
Industry analysts have noted that the rise of parlay-style betting continues to be a major driver of sportsbook revenue.
With the subscription service, DraftKings may also be looking to counterbalance New York’s high sports wagering taxes, which stand at 51%, the highest in the country.
In August, DraftKings reversed a decision to impose a winnings surcharge on customers in high-tax states after its main rival Flutter-owned FanDuel ruled out introducing a similar charge.
The scheme would have charged a “nominal” fee on customer winnings in states with a sports betting tax rate above 20% of GGR.