BOSTON, September 1, 2026, 17:17 EDT
- DraftKings ended the session at $23.44, falling 3.5%, with 8.23 million shares traded.
- Placing a $5 initial wager grants $200 in non-cashable bonus bets distributed across 21 days.
- Sales and marketing expenses climbed 38.3% in the second quarter, while revenue declined by 5%.
- The $200 offer amounts to 1.52 times the most recent quarterly revenue per monthly subscriber.
DraftKings shares dropped 3.5% on Tuesday after a $200 sportsbook promotion renewed scrutiny on acquisition costs. The offer is aimed at attracting new football-season registrations.
The face value of the offer is 1.52 times DraftKings’ most recent average revenue per monthly payer, increasing the threshold for payback.
New customers at DraftKings Inc. NASDAQ:DKNG must place an initial bet of $5 or more. A total of $200 in bonus bets is awarded over 21 days DraftKings promotion terms.
The payout is distributed as $50 every seven days. Each payment remains valid for seven days, with the wager not counting towards potential earnings independently verified offer details.
Sportsbook acquisition offer
Offer available September 1, 2026
Payback test: $200 equals 1.52× second-quarter ARPMUP of $132.
Face value is not DraftKings’ accounting cost. Bonus bets are nonwithdrawable and exclude the stake from winnings. Sources: DraftKings and Covers.
DraftKings closed regular trading at $23.44, a decline of 85 cents. Trading volume totaled 8.23 million shares Yahoo Finance market data.
The stock rebounded to $23.55 as of 17:09 EDT, still 3.0% lower than its Monday close of $24.29.
DraftKings share price, regular session through aftermarket
USD per share · as of
Selected five-minute observations; regular close and volume from Yahoo Finance. Aftermarket quotes can be thin.
The most recent quarter highlights the importance of promotion efficiency. Revenue declined by 5% to $1.443 billion, even though sports consumer volume increased by 15% second-quarter results.
The number of monthly unique payers increased by 9% to reach 3.6 million. Average revenue per payer declined 13% to $132, impacted by promotions and results that favored bettors.
Sales and marketing expenses rose 38.3% to $322.5 million. Cost of revenue increased to 61.8% of sales, a gain of 5.3 percentage points DraftKings Form 10-Q.
Acquisition pressure in the second quarter
Q2 2026 compared with Q2 2025
+38.3%
+5.3 pts
−12.6%
Sources: SEC filing and company results.
Chief Financial Officer Alan Ellingson stated the company’s core operations are still expected to deliver “approximately $1 billion of Adjusted EBITDA” this year. Spending on Predictions has lowered overall guidance.
DraftKings reiterated its revenue forecast for 2026, projecting between $6.5 billion and $6.9 billion. The company’s adjusted EBITDA guidance stays at a range of $700 million to $900 million.
The sportsbook serves 27 states, Washington, D.C., and Puerto Rico, reaching approximately 53% of the U.S. population.
As a result, investors should distinguish between the headline bonus amount and the cost to acquire it. Final returns are influenced by retention rates, frequency of wagers, and sportsbook hold.
Risks: Unexpected bettor-friendly outcomes may reduce hold. Increased state tax rates, intense promotional activity and weaker retention may also pressure margins.
The offer ends at 23:59 EDT on September 20. The upcoming football season will be the next measure of customer returns.
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