DraftKings Launches Sportsbook in Tennessee

DraftKings Sportsbook has established a strong presence in both Tennessee and Arizona, where it was among the first to launch following the legalization of sports betting in each state. Tennessee is notable for offering only mobile sports betting, while Arizona's market has expanded with numerous online sportsbooks since its launch. Investors in DraftKings Inc. are currently engaging with new options contracts, particularly focusing on a put contract that presents a potential discount on stock purchases. As the company prepares for its third-quarter earnings, analysts are cautious due to unexpected bettor wins impacting operator revenues during the NFL season. Despite short-term challenges, there is optimism about the long-term prospects of the sports betting market. Additionally, DraftKings is gearing up for the 2024 World Wide Technology Championship, offering insights for fantasy sports lineup creation.