$1.7B Powerball Jackpot Boosts DraftKings, 15M Tickets Sold

The massive $1.7 billion U.S. Powerball jackpot, the third-largest in history, has significantly boosted DraftKings' business, particularly through its lottery courier service Jackpocket, which operates in 16 states. DraftKings reported a surge in Powerball ticket sales, with a 130% increase from Sept. 3 to 4, and 15 million tickets ordered via Jackpocket, contributing to the company's revenue growth forecasts. Alongside this lottery-driven momentum, DraftKings is also benefiting from the start of the NFL season, which traditionally supports sports betting stocks, as the company and its competitor Flutter Entertainment dominate the U.S. online sports betting market. Missouri is set to become the 39th state to legalize sports betting in December, with DraftKings securing one of the limited independent mobile sports wagering licenses, allowing it to operate statewide without partnering with casinos. Additionally, DraftKings continues to attract customers with promotions like casino credits and spins, reinforcing its position in both sports betting and online casino markets. Despite regulatory challenges in some states, DraftKings remains a strong buy among analysts, with a consensus price target suggesting nearly 19% upside from current stock levels.