DraftKings Launches New “Pick6” Fantasy Sports Contest in Standalone App

Grant Mitchell
By:
Grant Mitchell
12/07/2023
Industry
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Highlights

  • DraftKings became the national leader in sports betting in August
  • Pick6” has users compete against the player base, not the house
  • DraftKings is also expected to launch progressive parlays this week

DraftKings unveiled its new and highly anticipated “Pick6” fantasy sports game Wednesday, an over/under style of betting similar to what is found on PrizePicks and Underdog.

The new game format requires users to make two-six selections of “More” or “Less” on a player prop. Customers compete against other DraftKings users and can win a piece of a prize pool with every Pick6 contest they enter.

Pick6 is already live in six states: Maryland, Minnesota, Oklahoma, South Carolina, Tennessee and Wisconsin.

A new innovation 

DraftKings is one of the top online sports betting platforms in America. Research firm Eilers & Krejcik Gaming found that it overtook FanDuel as the top sports betting provider in America back in August, though it still trails in overall online gross gaming revenue.

Pick6 is a standalone app, meaning that it won’t exist within the regular DraftKings mobile app.

Where Pick6 differs from other similar fantasy platforms is that users will compete in a peer-to-peer system. Every submission becomes part of a contest against the player base instead of a one-on-one wager against the house.

As a result, bet slips don’t come outfitted with parlay odds. Winnings will be determined by how other participating customers perform, and what the total prize pool is for a specific contest.

“At every touch point within this product, I have context with how I’m doing relative to other people in a contest,” Corey Gottlieb, DraftKings Chief Product Officer, said to Sports Betting Dime. “It has very transparent, upfront information about pricing and guaranteed prizes. I understand what I’m playing for at every step as I build out my lineup, and I have constant access to how I’m tracking relative to the prizes of the contest and other users.”

Once users have submitted their picks, they can track them in the “My Picks” section. They will also be able to edit their picks, view the contest breakdown, find information on the estimated prize payouts, and track performances in real-time. 

Customers are allowed to enter more than one Pick6 contest to increase their chance of winning.

Creating a new lane 

Daily Fantasy Sports operators have been put under the microscope in several states, including New York and Florida, among others. 

Controversy arose since several platforms offered fixed payouts for a certain number of correct picks, raising debate over whether they should be classified as games of skill.

Creating a product that distinctly sets itself apart from games offered by companies such as PrizePicks and Underdog was a primary goal of DraftKings during the build phase, said Gottlieb.

“There’s a real consciousness on our part around which product is a sports betting product and which product is a fantasy product, where they will live in our product ecosystem, and what states they’ll be allowed in based on what category they qualify as,” said Gottlieb. “And our There are two different mechanics in-market that we think will be attractive to customers and really engaging for our users. But one is a sportsbook product and the other is a fantasy product. And we’re going to launch them as such.”

DraftKings CEO Jason Robins introduced the new feature during the company’s investor day on Nov. 14. He also spoke about progressive parlays, which are expected to launch later this week.

Progressive parlays will similarly ask users to pick “More” or “Less” for 3-12 props. Those bets will compete against the house in a more traditional sports betting format, and the product will reside within the DraftKings Sportsbook app.

Progressive parlays differ from conventional parlays as they’ll still result in winnings if only one leg misses, though the payouts will be lower than usual.

Grant is a sports and sports betting journalist who prides himself in his up-to-the-minute reporting on the latest events in the industry. A member of Virginia Tech’s 2021 graduating class, he has quickly put together an impressive portfolio since moving to the professional world full-time. Grant’s favorite sports to cover are basketball and both types of football (American and soccer), and he is pushing written, audio, and video content. He has been employed by companies as highly regarded as Forbes and continues on a great trajectory in the industry. When he’s not on the clock, you can find Grant at the gym, looking for adventures, or hanging out with his family.