DraftKings CEO Jason Robins discusses the current state of inflation in the economy and the effect that it’s having on his business and the sport-gaming industry as a whole. Robins joined Yahoo Finance Live on Aug 5, 2022.
JASON ROBINS: A vast majority of our customers are, you know, small dollar bettors that are going to be placing bets of, you know, $5.00, $6.00 on a game. And it's a great bang for your buck, right? They get hours and hours of enjoyment. So it tends to be something that's quite sticky during periods of really any macroeconomic condition.
We certainly have some higher end bettors, too. And you know, I imagine some of them are seeing their portfolios down. But I don't think prices at the pump are really affecting their lifestyle as much. So I think it's the makeup of the customer base more than anything. And that's always historically been true of gaming, as you noted.
So we're always cautious. We're always not taking anything for granted. But so far, everything we're seeing is consistent with what has been common knowledge about gaming that really under any macroeconomic conditions, it's a very steady cohort of customers.