DraftKings tests subscription service in New York

DraftKings is upping the ante.

The sportsbook is testing out a new subscription service called DraftKings Sportsbook+ designed to provide paying customers a boost in odds.

The $20 per month subscription service launched quietly on Dec. 28 for select customers in New York and will offer participants up to a 100% profit boost on winning parlays. For example, a two-leg parlay would receive a 10% boost, a six-leg parlay would receive a 50% boost, and an 11-leg parlay would get the full 100% boost. The maximum bet eligible is $25.

New York offers a strong testing ground for DraftKings as one of the top-performing markets for online gaming.

The company could also be looking to help offset taxes in the Empire State. Sports wagering taxes in New York stand at 51%, tied with New Hampshire for the highest rate.

In August, DraftKings announced it was reversing course after announcing it would add a small tax to customers in states that have multiple operators and a tax rate of over 20%.

Others in the industry will be watching closely. DraftKings appears to be the first U.S. operator to launch a subscription service. Parlays, where bettors are wagering on more than one event at a time, are a profitable and growing area for sportsbooks.

In a statement, DraftKings said the subscription service was designed to offer customers an enhanced fan experience by “creating more excitement and value to our extensive parlay offering.”

The news was first reported by Sportico.

The company did not say how many users have signed up so far.

DraftKings is offering the first month free, and then the subscription will kick in.

While the subscription is currently only available in New York, DraftKings said it will consider whether to offer the service in other states.