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November 17, 2020

DraftKings Reports 3rd Quarter Results… What Does This Mean For NJ Sportsbooks?

Marco Cerino November 17, 2020
draftkings q3 reports

Gaming operator DraftKings reported $133 million in third-quarter 2020 revenue Friday. Their quarterly earnings report also increased revenue guidance for the current fiscal year and 2021.

This is the first full quarter that the company has spent as publicly traded, following the April IPO. 

DraftKings Q3 Reports

DraftKings Sportsbook capitalized on the return of major North American sports in July, nearly doubling their revenue from Q3 2019 of $67 million. The company revised the 2020 revenue projections, previously at $500 to $540 million, to $540 to $600 million. They also introduced 2021 revenue projections of $750 to $850 million. 

“The resumption of major sports such as the NBA, MLB and the NHL in the third quarter, as well as the start of the NFL season, generated tremendous customer engagement,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board, in a statement.

“In addition to our year-over-year pro forma revenue growth of 42%, DraftKings recorded an increase in monthly unique payers of 64% to over 1 million, demonstrating the effectiveness of our data-driven sales and marketing approach. Our product offerings and scalable platform provide a distinctive and personalized experience for customers across the ten states where we operate mobile sports betting today, and we look forward to entering additional jurisdictions at the earliest opportunity.”

While DraftKings has built their brand on daily fantasy and sports betting in NJ, more of the revenue comes from online casinos.

On top of the sports betting world… for now

The company took the top spot in gross gaming revenue for iGaming in the very competitive New Jersey market, while placing second in Pennsylvania and West Virginia. They are planning to expand the DraftKings casino to Michigan when that market launches in early 2021.

DraftKings is now available in 10 states with 20 percent of the US population in the footprint, with three more states approving sports betting via referendum earlier this month. During the presentation, the company mentioned the possibility to join a newly privatized market in the province of Ontario for iGaming and sports betting.

While the company has shown revenue growth, there is one notable concern. In the report, the company listed $203 million in sales and marketing expenses for the quarter, nearly four times higher than last year’s $58 million for Q3.

DraftKings has spent significant money to create partnerships with major league franchises, athletes, and organizations to draw business. The company also ran major promotions for the opening weekends of the NFL season. 

Q4 will be very interesting for DraftKings and other sports betting companies. The prolonged NBA and NHL seasons in the summer will prevent most games from happening this fall. College football has seen multiple games moved and teams opt-out of playing, while the NFL has largely avoided major disruptions from the coronavirus.

The Ivy League’s announcement Thursday to not play a winter schedule might not be the only one from mid-majors in college basketball. Despite the lack of a regular schedule, New Jersey announced a record in October with over $800 million in handle Friday. 

Everyone’s A Winner This Month In The Golden Nugget 7th Anniversary Race

Barbara Nathan November 17, 2020
golden nugget 7th anniversary

November 2020 is a very special month at Golden Nugget Online Casino.

It marks the 7th anniversary of the launch of legalized online gambling in New Jersey, and to celebrate the occasion, the leading NJ gambling website, Golden Nugget, is pulling out all of the stops.

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Of course, one of the highlights is the month-long November race. But this is no ordinary race because once again, Everyone’s a Winner!

If you have participated in the Golden Nugget races every month this year, the phrase “Everyone’s a Winner” is already getting to be a familiar refrain. In March, June, and as recently as September, Golden Nugget extended the same offer.

Now, in November, for the fourth time this year, you get the golden opportunity to participate in a race, where not just the top players but everyone entering is a winner!

If you haven’t yet opted-in to join the fun and collect your share of the prize pool, what are you waiting for?

Everyone’s A Winner Golden Gala 7th Anniversary November Race

Whether you have participated in other Everyone’s Winner Races at Golden Nugget Online Casino or not, you owe it to yourself to enter the even more spectacular November race. Golden Nugget is celebrating seven sensational years with the biggest monthly race of all time. It’s an incredible $177K+ giveaway!

All of the top 20 prizes are guaranteed, and in addition, all eligible players will be awarded a piece of the 7th-anniversary prize pool.

How the Golden Nugget November 7th Anniversary “Everyone’s A Winner” race works

The November race started on November 1 and continues all month long through November 30. Nearly halfway through the month, ordinarily, I would tell players who haven’t yet entered that month’s race, that it’s probably too late to start. Many players who have been steadily racking up points from day 1 will be so far ahead on the leaderboard that catching up would be nearly impossible.

But in a race like this one where everyone’s a winner, you can start anytime. As in all of the Golden Nugget races, the more you play, the more you win. But even if you only play minimally, a share of the prize pool is guaranteed.

On the other hand, if you’re a dedicated racer and have been accumulating lots of points on a daily basis all month long, be sure to check the leaderboard to see where you stand in relation to the other participants. Depending on where you finish at the end of the month, you could qualify for two prizes. Besides the same secondary bonus money prize that everyone in the race gets just for participating, if your final leaderboard standing for the month places you in the top 20, you also win a bigger prize!

Furthermore, as always, every point you earn this month will count not only towards this month’s total but also counts 200% towards your accumulated points all year long in the Million Dollar Race!

How to participate in the Golden Nugget November ‘Everyone’s A Winner” race

If you have already opted-in to the November race, just continue what you’re already doing–playing your favorite games and making deposits as often as you can. Or if you have yet to start, it’s not too late. But first, here’s what you need to do:

  • Log into your GoldenNuggetCasino.com account, the sooner the better.
  • Go to Available Bonuses and opt into the November 2020 Everyone’s A Winner Race.
  • Make a single deposit of $20 or more.
  • Start playing!

How to earn leaderboard points on the November race 

Check the table below, which describes the two ways you can earn leaderboard points. One way is simply playing your favorite online casino games and/or making sports bets. However, slot play will earn you points 5x as fast as other wagers. The other even faster way to earn leaderboard points is to make deposits of $50 or more.

In order to qualify for a prize, you only need to earn a minimum of 50 leaderboard points during the course of the month. Obviously, you will need to earn many, many times that number of points to finish in the top 20 and win one of the major prizes. But the good news is that because this is a promotion where everyone’s a winner, even if you’re a very small player, you won’t leave empty-handed.

How much can you win the Golden Nugget November race?

All of the prizes in the November race are in the form of bonus money credited to the player’s account.

In that respect, it would appear that this race is no different from the other monthly races. But, actually, there’s a big difference. Not only is Golden Nugget awarding two sets of prizes, but in honor of the casino’s seventh anniversary, it is offering its biggest monthly prize pool yet!

So far this year, the guaranteed prize pool in the monthly races has ranged from a fixed $60,000 to $100,000+. But in November, for the first time in history, the total prize pool opened at a whopping $150,000, and Golden Nugget is guaranteeing a final prize pool of at least  $177,000. The prize pool will be capped at $180,000.

$150,000 is already a tremendous amount of money to be given away in a single promotion, but there is no way the actual prize pool won’t wind up being substantially more by the end of the month. In fact, much like a progressive jackpot on a slot game keeps growing and growing, the Golden Nugget November race total prize pool will keep growing and growing every day.

But the difference, of course, is that instead of being a, one winner takes all proposition, everyone who participates and meets the minimum eligibility requirements will win something.

Here is how Golden Nugget will keep adding more money to the prize pool:

  • Each day when one or more players win $20K or more, Golden Nugget will add another $200 to the prize pool.
  • Each day when no player wins at least $20K, Golden Nugget will add $1,000 to the prize pool.

How the prizes in the Golden Nugget November race will be decided

Upon first glance, the distribution of prizes in the regular monthly races might look better due to the huge number of leaderboard prizes. Even finishing as low as in 500th place on the leaderboard (and in some races as low as 750th place) would still qualify you for a prize. But even so, many participants won’t win anything, and the bottom-rung prizes, especially considering the huge amount wagered to get a place on the leaderboard at all, are tiny.

In my opinion, the “Everyone is a Winner” offer is a much better deal. Only the top 20 participants win a leaderboard prize, but all of those prizes are substantial. Also, even after all of the top prizes are accounted for, there’s still a ton of money remaining in the prize pool, and that gets divvied up equally to everybody!

Top prizes for the top 20 players

It’s still way too soon to say exactly what the final prize pool will amount to because that figure won’t be known until the promotion is over. Therefore, the amounts shown in the table below for the first through 20th place finishers are only the minimum amounts each player can win. The top 20 winners might receive considerably more. All prizes will be in the form of a guaranteed free play bonus.

However, every player who finishes in the top 20 should be very pleased with their windfall. The player who finishes the month in 1st place is guaranteed to win at least $25,000 bonus money, while the player who finishes in 20th place is guaranteed to win at least $500 bonus money.

Distribution of the Top 20 Prizes

 

Leaderboard Rank

Minimum Prize

1

$25,000

2

$15,000

3

$12,500

4

$10,000

5

$9,000

6

$8,000

7

$7,000

8

$6,000

9

$5,000

10

$4,000

11

$3,000

12

$2,500

13

$2,000

14

$1,750

15

$1,500

16

$1,250

17

$1,000

18

$750

19

$650

20

$500

Distribution of additional prizes

After determining and subtracting from the total prize pool all of the prizes for the top 20 finishers, Golden Nugget will distribute equal amounts of the remainder to the same 20 players and every other eligible participating player. These secondary prizes will also be in the form of free bonus play.

Clearing the bonus

All of the prizes in this promotion will be awarded and credited to players’ accounts by 5 p.m. on Wednesday, December 2. Because both the leaderboard prizes and the secondary prizes are in the form of bonus money rather than cash, no withdrawals will be permitted until the bonus has been cleared.

However, the additional wagering requirements are very minimal, so it shouldn’t take long at all. To get started, you will need to choose either a casino bonus or a sports bonus. You must pick one or the other, and once you do, your choice is final.

 You have up to seven days to complete the wagering.

Casino bonus

If you pick the casino bonus, you can clear it with any game you wish. However, the amount you need to wager depends on the type of game. We recommend clearing the bonus with slots. As long as you avoid the 21 slots that Golden Nugget classifies as “excluded games,” you’re golden. You only have to wager the bonus 1x. In other words, the casino is footing the cost of the wager, not you. There is no further risk to your bankroll whatsoever.

However, rather than just pick any slot at random, click on the “i” tab accompanying the game beforehand and select a game with a higher than average return to player (an RTP of 96 percent or higher). This won’t guarantee a winning outcome, but you’ll have a better shot.

Otherwise, if you clear the bonus with video poker, blackjack, roulette, or other table games, the wagering requirement jumps to 4x the bonus. If you play any of the excluded slots, you will have to wager the bonus 5x.

Sports bonus

The sports bonus is another no-risk bonus with a wagering requirement of just 1x the bonus.

Golden Nugget Weekly Missions and yearlong Million Dollar Race

Besides the 12 monthly races, don’t overlook the Weekly Missions. And for high-end players only, the Golden Nugget Million Dollar Race offers the biggest prizes of all. Only the top 50 players for the entire year can reap the rewards, but what a way to start 2021! See the Promotions section of the Golden Nugget website for the complete details on these other exciting opportunities to win. 

Other 7th Anniversary offers

Because it’s Golden Nugget Online Casino’s lucky 7th anniversary, the November Everyone’s a Winner race is just one of many special promotions you will want to wrap your greedy hands around.

Although the sweepstakes to celebrate Golden Nugget Online Casino’s 777th online slot, Golden Nugget Stepper, has ended, surely you will still want to check out this exciting new Golden Nugget exclusive with a maximum prize of $503,975.

Meanwhile, all of these other special promotions are still ongoing:

  • Golden Offers

Every Mon.-Thurs. in November, scratch to reveal special daily promotions.

  • Boosted Weekends

Guaranteed deposit match every weekend

  • Golden Games $10,000 Giveaway

 Play signature games to earn your share.

Coming soon.

  • All-Star Games of the Week

Opportunity to earn double points

  • Holiday Spins

Black Friday & Cyber Monday Exclusive Free Spins Offers

Coming soon.

The bottom line: The Golden Nugget November 2020 7th Anniversary Celebration is not to be missed

Every month I write an article here on NJ Gambling Websites describing that month’s race at Golden Nugget Online Casino. Most of these articles include a caveat on the need to be careful and not let the lure of big money tempt you into wagering more than you can afford.

But while the races where the only way to win a prize is to rank high on the leaderboard are clearly not for everyone, this race where everyone’s a winner is indeed for everybody, whatever size player you are. And the same can be said for the other special promotions that Golden Nugget is offering this month.

So if you’re a Golden Nugget Online Casino player, be sure to log into your account often and take part in the monthlong 7th Anniversary Celebration.

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