PDFS September 20, 2015
Draftkings popularity has reached an all-time high and it’s hard not to turn on the TV without seeing one of their ads. With all this airtime and so many people checking out their website, there’s bound to be many questions left unanswered. Here we attempt to answer all of your Draftkings questions from the common to the obscure. This is Q and A on our sponsored site Draftkings.com:
Are Draftkings Winnings Taxed?
Yes, just like everything in life you will have to pay taxes on your fantasy sports winnings. If you make $600 or more in a given calendar year Draftkings will issue you a 1099 tax form which you will be required to submit come tax time.
Does Draftkings Pay Real Money?
Yes, Draftkings fantasy contests are for real cash prizes. Those commercials with the guys holding the big checks, those are indeed actual real winnings upwards of $2 Million for some lucky players. When you win a contest at Draftkings they will deposit the prize money into your account almost immediately after the contest has ended. From there you have the option to withdraw it either by using Paypal or by requesting a mailed check to the address you have specified in your account.
Does Draftkings Have An App?
Draftkings has an app for both the Apple iPhone and Android devices. Both apps are highly rated and we personally have tested it out on both an apple iPhone and iPad. The app is very well designed and easy to use and is our main method of drafting Draftkings lineups.
You can get the Draftkings Apple app here
You can get the Draftkings Android app here.
Does Draftkings Have Tennis?
Not yet. We have wondered who would be the first major DFS site to add tennis to their list of contests and at this time no one has jumped on board. It seems like fantasy tennis would be a perfect fit for daily fantasy and an easy point system to develop. I guess the big question is whether there will be enough popularity and demand for it in the future. We will wait and see.
Does Draftkings Have Horse Racing?
No. One of the few sports you cannot play on Draftkings is horse racing and we don’t see them offering it anytime in the near future. One site where you can play both daily fantasy sports and bet on horse racing is BetAmerica.com. While DK doesn’t offer actual fantasy horse racing they do have amazing VIP prize trips to major horse raceing events like the Kentucky Derby, Preakness Stakes and Breeders Cup. You can win trips to see these events in VIP style by playing at Draftkings.
How Do I Get A DraftKings Free Ticket?
Draftkings offer a free cash entry ticket when you click on our links and make your first deposit. Once you make a deposit your account will be credited with the entry ticket which can be used in any sports contest for the pre-determined entry fee amount. Usually, it is for a $3 entry fee contest. Use our sponsored link to get ticket.
Go to Draftkings now.
How Draftkings Makes Money?
Pretty simple actually, Draftkings takes a rake or percentage of all entry fees for their contests. They use a tiered rake system that can be anywhere from 10% to around 5%. Usually the higher the entry fee the lower the rake they take. Once they take their cut the rest goes into the prize pool for the players. Your buddies likely run their office pools the same way and take something off the top for administration fees or to sign your league up online. With Draftkings, it’s on a tad bigger scale considering the company has reached a “unicorn” valuation in 2015.
Is Draftkings Gambling?
No. Short and simple according to the law of the land right now it is not. The Unlawful Internet Gambling Enforcement Act of 2006 declares fantasy sports a game of skill and therefore sites like Draftkings.com are 100% legal. The debate rages on whether this needs to be re-addressed by many in government (they smell money in other words) and we will see what happens in the future. For the record, we believe fantasy sports is absolutely a game of skill unlike I don’t know the lottery which, by the way, the government happily endorses.
Is Draftkings Free?
Sure you can absolutely play daily fantasy sports on DK for nothing at all. They have many free contests every day and are one of the better sites at offering large prize pools for them. For instance, during football season they have offered free customer appreciation contests for $100K in total prizes and $10K as a top prize. So you could technically not deposit a penny and walk away with $10,000. These contests are some of the hardest to win, however because they tend to have huge amount entries. Everyone loves a free contest after all.
Is Draftkings a Public Company?
At the time of this post, no not yet. This is bound to change very soon we expect DK to offer an IPO sometime in 2016. In a recent interview on CNBC in September of 2015, CEO Jason Robins stated they are in active conversation with bankers about a strategy including the possibility of an IPO.
Is Draftkings a Scam?
The inevitable question that always arises about any product or service when it seems to good to be true. I’m sorry to disappoint any conspiracy theories out there, but Draftkings is not a scam. It’s a legitimate company that offers daily fantasy sports for real money. We are pretty confident leagues like Major League Baseball, National Hockey League and major companies like 21st Century Fox, Kraft Group and ESPN would not invest or partner with a company unless they felt 100% confident in its legitimacy. That’s not to say it’s easy to win money at DK and everyone will be a winner, of course not. It’s hard to win large sums of money competing against hundreds of thousands of players, but it is possible.
Is Draftkings Worth it?
I guess that depends on what you mean by worth it. If you are a fantasy sports fanatic and can’t get enough then yes we would say you would likely enjoy the chance to play fantasy sports every day for large sums of money. If you are hoping to find answers to life’s biggest questions then no daily fantasy sports will likely not bring much value to your life. In all seriousness if you put in the time to learn the game and develop solid strategies then you have a shot at some decent cash and could potentially make a career out of it. However, like most things in life it ain’t going to come easy so be smart with your bankroll.
What Sports Does Draftkings Have?
They have one of the best offerings of sports contests in DFS, they are:
Who Can Play There?
To play fantasy contests at DK the following rules apply:
- You have to be 18 or older to play fantasy contests for money at Draftkings (19 in Alabama and Nebraska).
- You have to be a resident of the United States or Canada
You can not play if you are from the following states – Arizona, Hawaii, Iowa, Louisana, Mississippi, Montana, Nevada, Washington
Players from the UK will be able to play at the following website: DraftKings UK
For a full breakdown of Draftkings including rules, scoring and cashier see our Draftkings Review.
We have been around since the very early days of DFS and have seen many sites rise and fall. Our team of Daily Fantasy Sports players and industry insiders look to provide the ultimate online DFS resource.
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