The world of sports betting changed three years ago, and DraftKings wants to mark the occasion with a special offer.
The Iowa sportsbook is offering a $5.14 credit as part of its “Free To Bet Day” promotion. Friday’s date — 5/14 — marks the third anniversary of a Supreme Court decision to overturn PASPA, the 1992 Professional and Amateur Sports Protection Act.
The ruling paved the way for the legalization of sports betting in all 50 states.
DraftKings customers need to opt-in and claim their bonus bet on Friday to take advantage of the offer, however. It’s available to all DraftKings users.
Keep in mind:
- The bonus bet amount is not included in any returns or winnings.
- It’s not redeemable for cash. Customers can’t transfer or get a refund on the promotional credit.
- Customers get one qualifying bet per user.
Check with DraftKings for any additional details.
DraftKings promotion celebrates safer betting
Geoff Freeman was president and CEO of the American Gaming Association (AGA) when the Supreme Court overturned PASPA. He called the decision “a victory for the millions of Americans” who want to safely bet on sports.
Current AGA president and CEO Bill Miller called illegal, unregulated sportsbooks “predatory” a year ago:
“For decades, federal and state law enforcement entities and attorneys general from across the country allocated resources to combat illegal gambling operations and the illicit activities they beget. Together, we joined forces to advocate for the Supreme Court to overturn the failed federal ban and pave the way for more Americans than ever before to have safe, legal options to bet on sports.”
The AGA said US commercial gaming enjoyed its highest-grossing quarter ever to start 2021. Gaming revenue topped $11 billion. The total includes sports betting revenue, which accounts for $961 million of the total. The sports betting amount surpassed 2019’s full-year total of $909 million.
Casey Clark, the AGA’s senior vice president of strategic communications, told PlayIA:
“Three years after PASPA’s repeal, the growth of the legal sports betting market has been tremendous. Millions of Americans now have the ability to bet on the sports they love with the protections of the legal, regulated market. The growth of the legal market not only benefits consumers, but is also key to providing states with tax revenue benefits, while driving bettors away from the predatory offshore market.”
Other states are trying to catch up to Iowa
The AGA said seven states are still going through the legislative process to establish sports betting. The organization says 100 million Americans have access to sports betting now:
- Twenty-six states, plus the District of Columbia, have joined Nevada in legalizing and regulating sports betting.
- Americans have legally wagered over $52 billion on sporting events, generating upwards of $500 million in tax revenue.
- If the seven states come on board, an estimated 124 million American adults will be able to place a legal sports bet in their home state. Most of the emerging states hope to have sportsbooks in place by football season.
Iowa became the 11th state to allow sports wagering. Bettors could place their first bets on Aug. 15, 2019. Since then, Iowa has officially generated $101.1 million in revenue, according to the Iowa Racing and Gaming Commission.