Draft Kings, Casinos Gear Up For Super Bowl Sports Betting Debut

From left, the three co-founders of DraftKings, Matt Kalish, Paul Liberman and Jason Robins, pose together in their Boston office on Apr. 24, 2017.

Pat Greenhouse | Boston Globe | Getty Images

From left, the three co-founders of DraftKings, Matt Kalish, Paul Liberman and Jason Robins, pose together in their Boston office on Apr. 24, 2017.

DraftKings expects to see a record volume of bets for Sunday's Super Bowl LIII, now that sports betting is legal in eight states, Jason Robins, CEO of the fantasy sports platform, told CNBC.

"Not surprisingly, it's the biggest day of the year for us," he said Friday on "Closing Bell." "I've heard people estimate there could be over $100 million bet in New Jersey on the Super Bowl this year, which would be amazing."

One establishment taking advantage of the nascent industry, which was cleared for states to legalize it after a 2018 U.S. Supreme Court ruling, is Borgata Hotel Casino & Spa in Atlantic City, New Jersey. Super Bowl Sunday has been a quiet day for the casino in the past, but Borgata Sportsbook President and COO Marcus Glover told CNBC it will be different this time around.

"We have reservations throughout the weekend," he said Friday on "The Exchange."

Glover projects that millions of dollars will be wagered on the casino's book when the New England Patriots face the Los Angeles Rams in Atlanta. The house will take a 5 percent cut of the volume-based wagers, and Borgata anticipates benefiting from "ancillary revenue," Glover said.

New Jersey and Nevada are among the states to have legalized sports betting since the Supreme Court case. Robins predicts that as many as 10 more states will move to authorize the activity sometime this year.

"The momentum is real, and I think you're going to see a lot of movement again this year," he said.

Super Bowl LIII will kick off at 6:30 p.m. ET Sunday.

RECENT NEWS

Stocks Rise After Better-than-expected Jobs Report To Close Out Winning Week

Stocks rose on Thursday following a better-than-expected U.S. jobs report as the economy tries to recover from the coron... Read more

Record Jobs Gain Of 4.8 Million In June Smashes Expectations; Unemployment Rate Falls To 11.1%

Another big contributor to the decline of the jobless rate was a plunge in those on temporary layoff. That total fell by... Read more

17.6 Million Unemployed Americans Probably Won't Return To Their Pre-pandemic Jobs

The share of the workforce currently out of work with no reasonable chance of returning to their jobs is about 11%, or a... Read more

GM, Fiat Chrysler U.S. Auto Sales Tank In Second Quarter As Coronavirus Saps Demand

U.S. vehicle sales in the second quarter for General Motors, Toyota Motor and Fiat Chrysler plunged by more than 30% Read more

Mortgage Demand Falls For The Second Straight Week, Signaling A Potential Slowdown In The Housing Recovery

The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates conti... Read more

Fed's Bullard Warns Of Financial Crisis Risks As Virus Cases Spike, FT Reports

St. Louis Federal Reserve Bank president James Bullard has warned that a growing number of bankruptcies due to the coron... Read more