DraftKings tests a subscription service as it looks to offset high New York taxes

Subscription Service Launch - DraftKings is testing a new subscription service called DraftKings Sportsbook+ which offers paying customers enhanced odds on winning parlays [1] - The service costs $20 per month and launched on Dec 28 for select customers in New York [2] - The subscription provides up to a 100$25 [2] Market and Tax Considerations - New York is a strong testing ground for DraftKings as it is one of the top performing markets for online gaming [2] - Sports wagering taxes in New York are 51% tied with New Hampshire for the highest rate [3] - DraftKings previously announced it would add a small tax to customers in states with multiple operators and a tax rate over 20% but reversed course in August [3] Industry Impact and Strategy - DraftKings appears to be the first US operator to launch a subscription service in the sports betting industry [4] - Parlays are a profitable and growing area for sportsbooks [4] - The subscription service aims to enhance the fan experience by creating more excitement and value for parlay offerings [4] User Engagement and Expansion - DraftKings is offering the first month free with the subscription kicking in afterward [5] - The service is currently only available in New York but the company will consider expanding to other states [5]