DraftKings vs Caesars - Which Sportsbook is Better?
The American online sports betting industry is filled with a lot of giant sportsbooks, all competing outright for the huge market share available across states where online sports betting is legal in the country. Consequently, bettors around the country have a wide range of wagering options, and operators are doing a great job satisfying them all. We take a closer look at two of them in a comparative analysis.
In the United States, DraftKings and Caesars are among the largest sportsbook operators. It is easy to rank among the top sportsbooks across several states in which both online sports betting brands operate, as both brands have excelled across the nation. The two brands have a great record investing heavily in promotions in order to attract new bettors across the country as well as loyalty bonuses to keep existing users happy and loyal to their betting platforms.
DraftKings
In the United States, DraftKings is arguably the largest online sports betting brand in the country after it became famous for its Daily Fantasy Sports contests. Founded in 2012 by Jason Robin, Matthew Kalish, and Paul Liberman, all former Vistaprint employees, the sportsbook operator is now regarded as one of the industry's titans. As the most widely available sportsbook in the United States, DraftKings, which was once powered by Kambi, operates with legal approval in 19 states across the country. Alongside running an online casino, DraftKings also operates a NFT marketplace, which helps it further establish its brand as a household name.
During the year 2020, DraftKings was listed on the New York Stock Exchange after a reverse merger with SBTech, a Bulgarian white-label sportsbook provider, and Diamond Eagle Acquisition Corp, a special-purpose acquisition firm. A deal worth approximately $1.6 billion in stocks was made between the company and Golden Nugget Online later in 2021. It later attempted to buy Entain, a company that owns 50% of BetMGM, in a deal for $22.4 billion in 2021, but that deal collapsed due to some complicated business. DraftKings continues to offer Daily Fantasy Sports contests across the country, even though it operates its sportsbooks platform in a few states where sports betting is legal.
Caesars
In the county's online sports betting industry, Caesars is without any doubt a household name. The Sportsbook is an online betting arm of Nevada-based Caesars Entertainment which has years of experience in the gaming and hospitality industry. Caesars is among the first sportsbook operators in the United States and has since expanded widely across the country. The company has operated retail casinos for years within the State of Nevada and decided to divest into online sport betting after the Supreme Court ruling on PASPA. With years of experience only in retail gambling, It however needed the expertise of a company well rooted in the online sports betting and casinos, and there William Hill came in.
Caesars acquired leading British online betting company William Hill in April 2020 for $3.7 billion. The deal represents one of the biggest acquisitions in the fast growing American online sport betting industry. The deal immediately elevated Caesars as one of the biggest sports betting brands in the United States. The takeover involved both online and land-based properties of William Hill all over the world. The company is however thought not to hold any interest in the non-US assets of William. This therefore led to the sale of William Hill's assets outside the United States to international gambling company 888 holdings for $3 billion. Caesars has since then solidified its place as a top player in the American online betting industry.
Comparison of DraftKings and Caesars
In Comparing the two sportsbooks, we'll examine the areas where they've excelled and the areas where they need improvement. There are a variety of categories that will be contested between the two heavyweights, including welcome offers, sports available, deposits and withdrawals, live betting, mobile apps, geographical coverage, and loyalty programs. A final verdict will be delivered on which sportsbooks wins the battle in each category.
Welcome Offers
Caesar offers its new customers a welcome bonus in the form of risk-free bets. Offering the biggest welcome bonus in the country, Caesars sportsbook provides a bet insurance worth up to $1,250 to its new users on the first bet after sign-up. A refund is facilitated by Caesars to the user if the bet ends up in a loss. New users are also granted 1,000 Tier Credits and 1,000 Reward Credits by Caesars. DraftKings offers its new users a "bet $5, win $150" bonus when they register an account. The sportsbook grants a welcome offer of $150 in free bets to the new users after they place a bet of $5 on any sporting event in a pre-game moneyline provided the bet is won. The free bets come in six $25 bets that have to be used up within seven days.
Winner: Caesars
Available Sports
There are a whole lot of sports to wager on currently on DraftKings and Caesars Sportsbook. The two sportsbook brands cover major sports as well as competitions in comprehensive details. They both offer the option to wager a good number of sporting events across several countries around the world. However, DraftKings covers a little more sports and a fairly broader selection for bettors which gives it an edge over Caesars.
Winner: DraftKings
Deposit and Withdrawal
DraftKings and Caesars both offer bettors eight options to deposit funds into their account, this include online banking, debit and credit cards, eChecks, PayPal, etc. Caesar's minimum deposit is quite higher when compared to other sportsbooks in the country with the least of $20. DraftKings on the other hand allows gamblers to fund their account with a minimum of $5. Caesars withdrawals are paid out within 72 hours and it's often completed between a day or two. DraftKings withdrawals on the other hand are also processed within the 3-5 days, but they are sometimes faster and users get to receive their money earlier.
Winner: Caesars
Live Betting
DraftKings and Caesars both offer bettors in the United States a comprehensive live betting section on their platform. Live betting on both sportsbooks are pretty easy to navigate by bettors and the lines are updated regularly by the two operators to meet the current situation. DraftKings has more coverage of sports and event in-play, but live betting is a little faster on Caesars which enables bettors to make precise betting decisions in the earliest time. Caesars' live stream is however not available on its app. The two sportsbooks also offer live streaming of games in the country's top sports leagues like MLB, NHL, NBA, etc. Caesars recently became the first American sportsbook to live stream an NFL game. Finally, the Sportsbooks also allow users to cash-out during live betting.
Winner: DraftKings
Mobile App
Already operating a functional betting website, DraftKings and Caesars provides users a sport betting app which is available on Android and iOS. The DraftKings mobile app is rated 4.8 on both Google Play and Apple App Store. Caesars on the other hand has an average user rating of 4.3 on Google Play and 4.6 on the Apple App Store. The DraftKings app has an edge over Caesars', as it records more positive reviews from users across the country. The DraftKings app is light, fast and very easy to navigate. Caesars doesn't bring many features into their mobile app, it doesn't have a bet-editor and offers no live streaming.
Winner: DraftKings
Geographical Coverage
DraftKings and Caesars are widely available to bettors in several states where sports betting is legal across the country. DraftKings is live for sport betting in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, Washington, West Virginia and Wyoming. Caesars sportsbook is available online to bettors located in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Nevada, Pennsylvania, Tennessee, Virginia, Washington DC, West Virginia and Wyoming. Both Sportsbooks will be launching in Ohio on January 1, 2023.
Winner: DraftKings
Loyalty Programs
DraftKings and Caesars currently operate loyalty programs for bettors devoted to their platform. Users earn points for placing bets on sporting events and casino games on both sportsbooks. DraftKings Dynasty Rewards and Caesars Reward Program can be traded for free bet credit and other bonuses. Users get to earn points the more they wager on the two platforms but Caesars have an edge in terms of usage. Once users have gathered enough reward credit on Caesars, they can simply trade them for a couple of cool benefits including luxury dining, sports game tickets and a whole lot more.
Winner: Caesars
DraftKings vs Caesars FAQs
Are Both DraftKings and Caesars Legal?
DraftKings and Ceasars are duly licensed sportsbook operators in the United States. The two sportsbooks operate legally in a couple of states where online sports betting is allowed around the country. Both Sportsbooks also have a brilliant record of operating within legal limits across all states they operate in.
Who owns DraftKings and Caesars?
DraftKings became a publicly traded company after a reverse merger occurred with Bulgaria-based SBTech and Diamond Eagle Acquisition Corp. Caesars sportsbook on the other hand is completely owned by Caesars Entertainment which is formerly known as Eldorado Resorts, inc.
When did DraftKings and Caesars kick-started operations?
DraftKings commenced operation in 2012 as a Daily Fantasy Sports contest provider in the United States and moved on to online sports betting after the declaration of PASPA as illegal by the Supreme Court. Caesars has operated within Nevada for a long time as PASPA prescribed but expanded business outside the state in 2018 after the Supreme Court ruling.
Who Pays Out Faster - DraftKings or Caesars?
DraftKings withdrawals are processed within 3-5 business days in which the request is made. Caesars sportsbooks on the other hand processes withdrawals within 72 hours, and in most cases, it is completed within a day or two. Caesars clearly offers a much faster withdrawal than DraftKings.
Is Live Betting Available on DraftKings and Caesars?
Live Betting is available to bettors in both DraftKings and Caesars. Users of the two sportsbooks can get to wager on ongoing sports events across several sports and competitions. Live games can also be streamed on the two online sport betting platforms to get real-time updates.
Which Sportsbook has the Wider Coverage - DraftKings or Caesars?
DraftKings and Caesars sportsbooks both have one of the widest coverage in the country. They are both available in almost an equal number of territories across the United States. DraftKings is available to bettors in 19 states of the federation while Caesars operates in 17 states and the District of Columbia.
What is the Legal Betting Age on DraftKings and Caesars?
In the United States, It's the duty of the regulatory body to determine who is legally allowed to place bets and not the sportsbooks. However, most states where sport betting is legal allow individuals who are 21 years or older to bet. This is exactly what the two sportsbooks have adhered to.
Do DraftKings and Caesars Operate a Mobile App?
Both DraftKings and Caesars provide users a high-end mobile app for sports betting. The betting apps are available to users on both the iOS and Android operating systems. The two mobile apps offer a supreme betting experience on the palms of users as they are both equipped with all features available on the sportsbooks' websites
Do DraftKings and Caesars Offer Different Ways to Deposit?
DraftKings and Caesars both offer users across the United States eight different methods to deposit funds into their account. Then method includes online banking, PayPal, eCheck, Play+, etc. Deposits reflect instantly on both sportsbooks when there are no technical issues with the preferred method of deposit.
Where are DraftKings and Caesars headquartered?
Both DraftKings and Caesars have a business headquarter within the shores of the United States. DraftKings is based in Boston, Massachusetts while Caesars operates from the city of Reno, Nevada.
