DraftKings CEO Jason Robins Talks World Cup Customer Retention

Summary

Bloomberg Talks

Episode: DraftKings CEO Jason Robins Talks World Cup Customer Retention
Date: August 7, 2026
Host: Bloomberg Tech Host
Guest: Jason Robins, CEO & Co-founder, DraftKings

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Episode Overview

This episode focuses on DraftKings’ business performance post-World Cup and dives into the company’s strategies for customer retention, especially following high-profile events. CEO Jason Robins provides insider perspectives on earnings fluctuation, the impact of the World Cup, advances in prediction markets, and DraftKings’ approach to responsible marketing, particularly regarding young audiences.

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Key Discussion Points & Insights

1. DraftKings’ Recent Earnings and Stock Performance

• DraftKings faced initial disappointment after its Q2 earnings, driven partly by promotional spending and increased competition (notably from new prediction market players like Kalshee).

• The stock rebounded as investors digested the news, closing up 7.5% on the day, its best since June 26th.

  Jason Robins (01:15):
  “After having a little time to digest and hear some of the context, people understand how strong a position DraftKings is in from a business perspective… our core business is on track to about $1 billion in adjusted EBITDA this year. Just a few years ago we were losing money. Now it’s a very strong cash flow generator for us.”

2. Growth in Prediction Markets and World Cup Momentum

• The World Cup significantly exceeded DraftKings’ expectations across all metrics: customer acquisition, engagement, and retention.

• Customer acquisition costs (CAC) dropped by 25% compared to forecasts.

• The company saw a 20% increase in handle (total amount wagered) in July, even after the World Cup had ended.

  Jason Robins (02:42):
  “World Cup, on pretty much every metric… exceeded our expectations. We acquired more customers… our CACs were 25% lower than we expected. Total engagement was big… Post World Cup, we actually saw a 20% handle increase… which is an enormous number compared to where we were going into it.”

  • This uptick is particularly valuable as it leads into DraftKings’ busiest season (NFL and fall sports).

3. Retention of New and Reactivated Customers

• Both new sign-ups during the World Cup and previously dormant users remained active after the event, sustaining higher engagement rates.

• Big sporting events are leveraged for reactivation, especially since customer activity can dip after leagues like the NFL wrap up.

  Jason Robins (03:47):
  “A lot of [these customers] were people that had played previously and activated and continued to play afterwards… At least for the World Cup audience, it seems like both the new customers and the ones who reactivated are all continuing to play through July.”

4. Position on Prediction Markets and Responsible Marketing

• Discussion of competition from prediction markets and DraftKings’ philosophy on participant demographics, especially those under 21.

• Robins distances DraftKings from aggressive marketing tactics aimed at younger audiences, in contrast to peers.

  Jason Robins (04:36):
  “We are not… doing marketing that you can pay your rent money and marketing to college campuses, on fraternities and things like that. We are focusing on marketing to adults and positioning this as an entertainment product… As a longtime trusted brand… that’s not what you want to be doing. Marketing on college campuses and things like that.”

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Notable Quotes & Memorable Moments

• On people betting on whether Robins would say “Kalshee” on the earnings call:

  Jason Robins (02:02):
  “Making trades on whether someone is going to say something on an earnings call probably isn’t something that I think should be out there in my opinion… I don’t think I said it, so hopefully not too many people took the positive side of that one.”

• On sustainable growth over short-term tactics:

  Jason Robins (04:36):
  “It’s not as much as it might get you short term volumes. That’s not what you want to be doing.”

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Timestamps for Key Segments

• 00:38–01:15: Market reaction to DraftKings’ Q2 earnings, introduction of Jason Robins
• 01:15–01:50: Robins discusses business fundamentals and cash flow
• 01:50–02:26: Lighter moment about ‘Kalshee’ and prediction market quirks
• 02:26–03:40: World Cup’s business impact—customer acquisition, retention, engagement
• 03:40–04:20: Customer retention details: new vs. reactivated users
• 04:20–05:24: Responsible marketing, youth-focused advertising in prediction markets

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Tone & Style

The conversation is candid and pragmatic, with Robins emphasizing DraftKings’ focus on sustainable, ethical growth and clarifying differences between their methods and some newer, more aggressive market entrants.

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Summary by: Bloomberg Talks Podcast Summarizer

Transcript

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[Bloomberg Tech Host]

Ending the week with More Tech earnings DraftKings reported disappointing second quarter earnings amidst growing competition from new prediction market players like Kalshee. But there's some post momentum post World cup which setting up a pretty strong back half stock up 7 1/2% on track for its best day since June 26th. DraftKings CEO and co founder Jason Robbins joins us. It's interesting right Initially that was the reaction, disappointment, second quarter earnings. There were favorable sports outcomes, there was promotional spending. And then this morning everyone was like actually you know what, the World cup seems to have some tailwind with it.

[Jason Robbins]

Well, I think that really what you're seeing is that after having a little time to digest and hear some of the context, people understand how Strong a position DraftKings is in from a business perspective. Right now our core business is on track to about $1 billion in adjusted EBITDA this year. Just a few years ago we were losing money in that business. Now it's a very strong cash flow generator for us and we see really strong traction on predictions. Enormous growth over the last month or two and the best time of year is about to come with you know, the fall season and NFL and everything that that brings.

[Bloomberg Tech Host]

Okay, bear with me. But apparently people were betting on whether you would say Kalshee on the earnings call. Prediction markets are a factor. Just react to that Jason, please.

[Jason Robbins]

Well, I, you know, making trades on whether someone is going to say something on an earnings call probably isn't something that I think should be out there in my opinion but nevertheless I understand it is. I didn't know that though. I didn't read it. I don't remember. I don't think I said no said so. Now hopefully not too many people took the positive side of that one.

[Bloomberg Tech Host]

Jason, can you, can you just explain the World cup, how it it manifested for DraftKings, the behavior of people that went to DraftKings during it and whether there is some momentum carried out of it for the second half of this year?

[Jason Robbins]

I mean World cup on pretty much every metric that we look at exceeded our expectations. We acquired more customers. That was both true of Predictions, but also true of of our online sports betting business. We are way better than we expected from an acquisition standpoint. We ended up having much more efficient acquisition to our CACs were 25% lower than we expected. Total engagement was big. We had a really strong increase in maps as we published in our report. Also saw really strong post World cup engagement. Probably the most exciting thing to me because, you know, a lot of people are probably thinking, us included, this World cup audience, are they going to stick around or is it sort of come, you know, bet on the World cup, trade on the World cup and done not at all the case case. July we actually saw a 20% handle increase after the World cup ended, which is enormous number compared to where we were going into it. So you're absolutely right. I think a lot of momentum coming out of the World cup right going into our most important time of year. So it couldn't have been time better.

[Bloomberg Tech Host]

Jason, very quickly, those were people that went to DraftKings maybe for the first time in the World cup and then stayed.

[Jason Robbins]

A lot of them were. A lot of them were people that had played previously and activated and continued to play afterwards. Remember, after NFL ends, sometimes a lot of customers go dormant. So these big moments are really great opportunities to get people to engage with the product again. And you never know if they're going to drop off or not. We see that sometimes. Or if they're going to continue. And at least for the World cup audience, it seems like both the new customers and the ones who reactivate are all continuing to play through July. And I think coming into August and September, when we have our most busy time of year, it's going to only continue.

[Bloomberg Tech Host]

Jason, in prediction markets, the field of players seem very focused on how they communicate with the under 21 category. What is DraftKings policy and approach basically to marketing to that demographic quickly?

[Jason Robbins]

Well, I think this is an important distinction, distinction between DraftKings and some of these other companies out there. We are not, as you see some of them doing marketing that you can pay your rent money and marketing to college campuses, on fraternities and things like that. We are focusing on marketing to adults and positioning this as an entertainment product, which I think is the right way to do it. And you know, listen, those are things that right now are getting a little bit of scrutiny and I think eventually they'll get reined in, but that's not up to us. But I do think it's something that we feel like we are really, you know, as a longtime trusted brand that's been out there for a long time and plays the long game and really understands, you know, it's not as much as it might get you short term volumes. That's not what you want to be doing. Marketing on college campuses and things like that.

[Bloomberg Tech Host]

DraftKings CEO Jason Robbins, thank you very much for your time on Bloomberg Tech.

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