- During a Q&A with fans, DraftKings CEO Jason Robins expressed his interest in accepting Bitcoin as a deposit method.
- Robins states that state regulators determine what currency can and cannot be accepted.
- Wyoming has regulations for sportsbooks accepting cryptocurrencies.
BOSTON – DraftKings CEO Jason Robins was recently doing a Q&A with fans via Public.com and was asked how he felt about Bitcoin being used to bet on sports.
The CEO expressed interest in the possibility but explained that DraftKings is limited by states' regulations when it comes to determining what they can and cannot accept as currency.
None of the states that DraftKings operates in allow sportsbooks to accept Bitcoin, but the growing interest from the companies CEO could indicate DraftKings' next moves.
DraftKings Wants Bitcoin
Currently, sportsbooks that accept Bitcoin are mostly limited to international online sportsbooks as US regulated operations have to follow varying legislation.
The only state with a regulated market that allows sportsbooks to accept Bitcoin is Wyoming, which DraftKings currently does not operate in. The sportsbook could be tempted to enter the young market, however, as the CEO seems very interested in the potential future of cryptocurrencies.
During the Q&A, Robins was asked his opinion on the crypto market and if DraftKings would ever accept Bitcoin as a form of payment.
“I think cryptocurrency is really interesting and will likely transform some entire industries and portions of others,” said Robins. “We’ve looked into how we might utilize this form of payment, right now, we’re not able to offer it on our products. The payment methods we can accept are determined by the individual state regulators and, as of now, crypto is not an approved payment type in any of the states where we’re live.”
Cryptocurrencies have continued to grow in popularity in recent years, so it makes sense for regulated sportsbooks to be interested in accepting the likes of Bitcoin.
In addition to Wyoming, North Carolina has presented SB 688 which would allow sportsbooks to accept crypto as payments. Additionally, Texas lawmakers have pushed HB 2070 which would not only launch legal sports betting, but also allow operators to accept cryptocurrencies.
Should this trend spread to other major markets, DraftKings could very well see a market they are in currently begin accepting Bitcoin or simply launch in a market that does.