DraftKings is a digital sports betting and online casino company. Its two core products are Sportsbook (online sports betting) and iGaming (online casino), which together account for about 93% of revenue. In Sportsbook, users bet on sporting events at fixed odds and DraftKings earns revenue through "hold" — the difference between wagers collected and payouts. The NFL and NBA are the most popular sports on the platform. Live (in-play) betting accounts for over 50% of Sportsbook handle, and parlay bets — where users combine multiple outcomes into a single wager — are a key product because they carry a structurally higher hold rate. In iGaming, DraftKings offers blackjack, roulette, slots, and other games, earning revenue through the statistical house advantage. DraftKings sells direct-to-consumer via its mobile app and website, and uses data science to cross-sell users across product lines. Beyond these core products, DraftKings operates Daily Fantasy Sports, a digital lottery courier app (Jackpocket), and a new prediction markets platform (DraftKings Predictions). Profitability improves as states mature — new state launches require heavy upfront marketing spend, but promo intensity normalizes over time as the ratio of new users to existing users declines. Key growth levers include geographic expansion of both Sportsbook and iGaming into new states, rising parlay mix (which structurally lifts hold rates), live betting product investment, and prediction markets, which are federally regulated and available nationwide — giving DraftKings access to large states like California and Texas where Sportsbook is not yet legal.