Sports Betting Operator DraftKings Inks Mental Health Partnership in Colorado

After a strong Q4 2023 in terms of revenue, DraftKings is focusing on raising awareness about mental health and problem gambling.

Last Updated: Sep 29, 2023 11:40 AM ET Read Time: 4 min
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A leading mental health service provider is continuing to embrace legal sports betting.

Kindbridge Behavioral Health has announced a partnership with DraftKings to provide residents in Colorado with resources to combat problem gambling. As part of the deal, which begins in October, the two companies will work together to provide players who self-exclude from DraftKings with complimentary access to comprehensive mental health assessments.

“Our collaboration with DraftKings is a significant step forward in delivering timely and comprehensive care to those who need it most,” said Kindbridge CEO Daniel Umfleet in a statement. “By combining our expertise in behavioral health with DraftKings' reach and influence, we can help at-risk players on their necessary journey toward recovery.”

Kindbridge’s partnership with DraftKings builds on a busy Responsible Gaming Education Month for the mental health provider and other online betting sites. Earlier this week, the company secured a pact with BetMGM to also offer assessments and group services in the Centennial State. Kindbridge’s willingness to partner with both DraftKings and BetMGM comes ahead of a new rule in Colorado that mandates operators have a system for problem gambling detection.

The rule, which becomes law in October, also requires operators to have a response strategy.

Building business 

DraftKings raising awareness of mental health and problem gambling follows robust revenue in Q4 2023. The company generated $875 million in revenue during the quarter, compared to $466 million for the same period last year. DraftKings attributed the results to the efficient acquisition of new customers, product innovation, promotions, and customer engagement.

DraftKings expects revenue to reach $3.5 billion in FY2023, up from a previous projection of $3.1 billion. The company expects to report an adjusted EBITDA of $205 million for the year.

DraftKings is live with online wagering in 22 states, providing access to 44% of America. The company, which is also authorized in Ontario, officially launched wagering in Kentucky on Thursday.

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