DraftKings, Churchill Downs Betting On Horse Racing With New App

• DraftKings announced a multi-year agreement with Churchill Downs Incorporated
• The partnership will bring about a new online horse wagering platform in the U.S.
• DK HORSE will launch prior to the 149th running of the Kentucky Derby

Big news today for the sport of kings.

DraftKings and Churchill Downs Incorporated (CDI) today announced a multi-year agreement to bring pari-mutuel wagering on horse racing to the DraftKings brand. The agreement will see the launch of DK HORSE, a new standalone online horse wagering platform in the U.S., to allow eligible customers to bet on horse racing.

CDI’s subsidiary, TwinSpires, will provide advance deposit wagering to DraftKings.

DraftKings Betting On DK HORSE

DK HORSE will initially be available in 21 states, pending all necessary licensing and regulatory approval, and will launch prior to the 149th running of the Kentucky Derby on May 6, 2023.

The product will be a standalone app from the DraftKings sportsbook offerings.

“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,” said Jason Robins, CEO and Chairman of the Board of DraftKings, in a press release. “Due to the structure of the agreement, we expect this new product offering to be immediately profitable.”

Kentucky Derby and Beyond

Through the agreement, CDI will provide DraftKings with pari-mutuel rights to horse racing content that the company owns. This includes the Kentucky Derby and the Kentucky Oaks.

It will also provide and secure additional horse racing content for use on DK Horse.

Churchill Downs conducts thoroughbred racing during three race periods in the spring, summer, and fall.

“We believe the depth and quality of our online offering through TwinSpires is unmatched in horse racing,” said Bill Carstanjen, CEO of CDI, in a release. “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.”