DraftKings (DKNG) 10-Q 3 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-41379
Entity Registrant Name	DRAFTKINGS INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-2764212
Entity Address, Address Line One	222 Berkeley Street
Entity Address, Address Line Two	5th Floor
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02116
City Area Code	617
Local Phone Number	986-6744
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Trading Symbol	DKNG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001883685
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		466,241,933
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		393,013,951

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,111,596	$ 1,309,172
Cash reserved for users	475,984	469,653
Receivables reserved for users	209,485	160,083
Accounts receivable	27,778	51,097
Prepaid expenses and other current assets	143,079	94,836
Total current assets	1,967,922	2,084,841
Noncurrent Assets:
Property and equipment, net	64,927	60,102
Intangible assets, net	718,958	776,934
Goodwill	886,373	886,373
Operating lease right-of-use assets	77,180	65,957
Equity method investments	9,630	10,080
Deposits and other non-current assets	136,526	155,865
Total assets	3,861,516	4,040,152
Current liabilities:
Accounts payable and accrued expenses	594,067	517,587
Liabilities to users	856,334	686,173
Operating lease liabilities, current portion	12,132	4,253
Other current liabilities	65,930	38,444
Total current liabilities	1,528,463	1,246,457
Noncurrent liabilities:
Convertible notes, net of issuance costs	1,253,089	1,251,103
Non-current operating lease liabilities	76,926	69,332
Warrant liabilities	53,695	10,680
Long-term income tax liability	68,253	69,858
Other long-term liabilities	79,668	70,029
Total liabilities	3,060,094	2,717,459
Commitments and contingent liabilities (Note 12)
Stockholders' equity:
Treasury stock, at cost; 11,292 and 8,690 shares as of September 30, 2023 and December 31, 2022, respectively	(391,484)	(332,133)
Additional paid-in capital	7,045,655	6,750,055
Accumulated deficit	(5,889,322)	(5,131,801)
Accumulated other comprehensive income	36,488	36,488
Total stockholders’ equity	801,422	1,322,693
Total liabilities and stockholders’ equity	3,861,516	4,040,152
Class A Common Stock
Stockholders' equity:
Common stock	46	45
Class B Common Stock
Stockholders' equity:
Common stock	$ 39	$ 39

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2023	Dec. 31, 2022
Treasury stock, shares (in shares)	11,292	8,690
Class A Common Stock
Common shares, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common shares, shares authorized (in shares)	900,000	900,000
Common shares, shares issued (in shares)	477,198	459,265
Common shares, shares outstanding (in shares)	465,906	450,575
Class B Common Stock
Common shares, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common shares, shares authorized (in shares)	900,000	900,000
Common shares, shares issued (in shares)	393,014	393,014
Common shares, shares outstanding (in shares)	393,014	393,014

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 789,957	$ 501,938	$ 2,434,536	$ 1,385,328
Cost of revenue	543,454	372,692	1,575,517	998,838
Sales and marketing	313,323	321,714	909,943	840,695
Product and technology	89,005	76,299	266,999	234,853
General and administrative	130,761	186,261	427,493	590,476
Loss from operations	(286,586)	(455,028)	(745,416)	(1,279,534)
Other income (expense):
Interest income	14,420	6,969	39,626	10,360
Interest expense	(670)	(668)	(1,991)	(1,982)
(Loss) gain on remeasurement of warrant liabilities	(7,751)	(6,797)	(44,827)	20,199
Other income (expense), net	(1,217)	8,257	(1,153)	40,566
Loss before income tax provision and loss from equity method investment	(281,804)	(447,267)	(753,761)	(1,210,391)
Income tax provision (benefit)	1,291	3,177	3,310	(77,580)
Loss from equity method investment	8	50	450	2,479
Net loss attributable to common stockholders	$ (283,103)	$ (450,494)	$ (757,521)	$ (1,135,290)
Loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.61)	$ (1)	$ (1.64)	$ (2.63)
Diluted (in dollars per share)	$ (0.61)	$ (1)	$ (1.64)	$ (2.63)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Treasury Stock Amount
Beginning balance (in shares) at Dec. 31, 2021		407,781	393,014
Beginning balance at Dec. 31, 2021	$ 1,678,528	$ 41	$ 39	$ 5,702,388	$ (3,753,814)	$ 36,488	$ (306,614)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		913
Exercise of stock options	1,770			1,770
Stock-based compensation expense	187,077			187,077
Purchase of treasury stock (in shares)		(793)
Purchase of treasury stock	(14,083)						(14,083)
Restricted stock unit vesting (in shares)		9,327
Restricted stock unit vesting	1	$ 1
Net loss	(467,693)				(467,693)
Ending balance (in shares) at Mar. 31, 2022		417,228	393,014
Ending balance at Mar. 31, 2022	1,385,600	$ 42	$ 39	5,891,235	(4,221,507)	36,488	(320,697)
Beginning balance (in shares) at Dec. 31, 2021		407,781	393,014
Beginning balance at Dec. 31, 2021	1,678,528	$ 41	$ 39	5,702,388	(3,753,814)	36,488	(306,614)
Increase (Decrease) in Stockholders' Equity
Equity consideration issued for acquisitions	460,128
Net loss	(1,135,290)
Ending balance (in shares) at Sep. 30, 2022		448,664	393,014
Ending balance at Sep. 30, 2022	1,435,116	$ 45	$ 39	6,616,274	(4,889,104)	36,488	(328,626)
Beginning balance (in shares) at Mar. 31, 2022		417,228	393,014
Beginning balance at Mar. 31, 2022	1,385,600	$ 42	$ 39	5,891,235	(4,221,507)	36,488	(320,697)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		902
Exercise of stock options	3,131			3,131
Stock-based compensation expense	135,521			135,521
Equity consideration issued for acquisition (in shares)		29,252
Equity consideration issued for acquisitions	460,128	$ 3		460,125
Purchase of treasury stock (in shares)		(254)
Purchase of treasury stock	(3,393)						(3,393)
Restricted stock unit vesting (in shares)		894
Net loss	(217,103)				(217,103)
Ending balance (in shares) at Jun. 30, 2022		448,022	393,014
Ending balance at Jun. 30, 2022	1,763,884	$ 45	$ 39	6,490,012	(4,438,610)	36,488	(324,090)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		69
Exercise of stock options	224			224
Stock-based compensation expense	126,038			126,038
Purchase of treasury stock (in shares)		(267)
Purchase of treasury stock	(4,536)						(4,536)
Restricted stock unit vesting (in shares)		840
Net loss	(450,494)				(450,494)
Ending balance (in shares) at Sep. 30, 2022		448,664	393,014
Ending balance at Sep. 30, 2022	1,435,116	$ 45	$ 39	6,616,274	(4,889,104)	36,488	(328,626)
Beginning balance (in shares) at Dec. 31, 2022		450,575	393,014
Beginning balance at Dec. 31, 2022	1,322,693	$ 45	$ 39	6,750,055	(5,131,801)	36,488	(332,133)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		701
Exercise of stock options	2,192			2,192
Stock-based compensation expense	117,400			117,400
Purchase of treasury stock (in shares)		(1,399)
Purchase of treasury stock	(27,358)						(27,358)
Restricted stock unit vesting (in shares)		11,757
Restricted stock unit vesting	1	$ 1
Net loss	(397,148)				(397,148)
Ending balance (in shares) at Mar. 31, 2023		461,634	393,014
Ending balance at Mar. 31, 2023	1,017,780	$ 46	$ 39	6,869,647	(5,528,949)	36,488	(359,491)
Beginning balance (in shares) at Dec. 31, 2022		450,575	393,014
Beginning balance at Dec. 31, 2022	$ 1,322,693	$ 45	$ 39	6,750,055	(5,131,801)	36,488	(332,133)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)	17,861
Equity consideration issued for acquisitions	$ 0
Net loss	(757,521)
Ending balance (in shares) at Sep. 30, 2023		465,906	393,014
Ending balance at Sep. 30, 2023	801,422	$ 46	$ 39	7,045,655	(5,889,322)	36,488	(391,484)
Beginning balance (in shares) at Mar. 31, 2023		461,634	393,014
Beginning balance at Mar. 31, 2023	1,017,780	$ 46	$ 39	6,869,647	(5,528,949)	36,488	(359,491)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		284
Exercise of stock options	1,144			1,144
Stock-based compensation expense	89,193			89,193
Shares issued for exercise of warrants (in shares)		62
Shares issued for exercise of warrants	1,470			1,470
Purchase of treasury stock (in shares)		(587)
Purchase of treasury stock	(13,826)						(13,826)
Restricted stock unit vesting (in shares)		1,864
Net loss	(77,270)				(77,270)
Ending balance (in shares) at Jun. 30, 2023		463,257	393,014
Ending balance at Jun. 30, 2023	1,018,491	$ 46	$ 39	6,961,454	(5,606,219)	36,488	(373,317)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		1,359
Exercise of stock options	5,506			5,506
Stock-based compensation expense	78,353			78,353
Shares issued for exercise of warrants (in shares)		11
Shares issued for exercise of warrants	342			342
Purchase of treasury stock (in shares)		(617)
Purchase of treasury stock	(18,167)						(18,167)
Restricted stock unit vesting (in shares)		1,896
Net loss	(283,103)				(283,103)
Ending balance (in shares) at Sep. 30, 2023		465,906	393,014
Ending balance at Sep. 30, 2023	$ 801,422	$ 46	$ 39	$ 7,045,655	$ (5,889,322)	$ 36,488	$ (391,484)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities:
Net loss	$ (757,521)	$ (1,135,290)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation and amortization	146,722	120,629
Non-cash interest (income) expense, net	(554)	985
Stock-based compensation expense	284,946	448,636
Loss from equity method investment	450	2,479
Loss (gain) on remeasurement of warrant liabilities	44,827	(20,199)
Loss (gain) on marketable equity securities and other financial assets	75	(32,483)
Deferred income taxes	4,527	(78,051)
Other expenses, net	(1,944)	(5,109)
Change in operating assets and liabilities, net of business combinations:
Receivables reserved for users	(49,402)	(34,691)
Accounts receivable	24,174	13,834
Prepaid expenses and other current assets	(20,757)	(20,669)
Deposits and other non-current assets	(3,983)	(1,989)
Operating leases, net	1,907	698
Accounts payable and accrued expenses	79,047	129,233
Liabilities to users	170,161	136,650
Long-term income tax liability	(1,605)	(11,200)
Other long-term liabilities	5,112	9,476
Net cash flows used in operating activities	(73,818)	(477,061)
Investing Activities:
Purchases of property and equipment	(19,885)	(19,903)
Cash paid for internally developed software costs	(60,006)	(46,513)
Acquisition of gaming licenses	(10,971)	(3,919)
Proceeds from marketable equity securities and other financial assets	24,425	0
Cash paid for acquisition, net of cash acquired	0	(96,507)
Other investing activities, net	(481)	(5,090)
Net cash flows used in investing activities	(66,918)	(171,932)
Financing Activities:
Proceeds from shares issued for warrants	0	44
Purchase of treasury stock	(59,351)	(22,012)
Proceeds from exercise of stock options	8,842	5,125
Net cash flows used in financing activities	(50,509)	(16,843)
Net decrease in cash and cash equivalents and restricted cash	(191,245)	(665,836)
Cash and cash equivalents and restricted cash at the beginning of period	1,778,825	2,629,842
Cash and cash equivalents and restricted cash, end of period	1,587,580	1,964,006
Disclosure of cash, cash equivalents and restricted cash:
Cash and cash equivalents	1,111,596	1,382,651
Cash reserved for users	475,984	581,355
Total cash, cash equivalents and restricted cash, end of period	1,587,580	1,964,006
Supplemental Disclosure of Noncash Investing and Financing Activities:
Equity consideration issued for acquisitions	0	460,128
Investing activities included in changes in accounts payable and accrued expenses	(408)	12,835
Decrease of warrant liabilities from cashless exercise of warrants	1,812	0
Supplemental Disclosure of Cash Activities:
Increase in cash reserved for users	6,331	104,405
Cash paid for interest	$ 0	$ 0

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business We are a digital sports entertainment and gaming company that provides users with online sports betting (“Sportsbook”), online casino (“iGaming”) and daily fantasy sports (“DFS”) product offerings, as well as retail sportsbook, media and other consumer product offerings. We are also involved in the design and development of sports betting and casino gaming software for online and retail sportsbooks and iGaming operators. In May 2018, the Supreme Court (the “Court”) struck down on constitutional grounds the Professional and Amateur Sports Protection Act of 1992, a law that prohibited most states from authorizing and regulating sports betting. As of September 30, 2023, 36 U.S. states, the District of Columbia and Puerto Rico have legalized some form of sports betting. Of those 38 legal jurisdictions, 31 have legalized online sports betting. Of those 31 jurisdictions, 27 are live, and DraftKings operates in 22 of them. The U.S. jurisdictions with statutes legalizing iGaming are Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island and West Virginia. As of September 30, 2023, we operate our Sportsbook product offering in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, Wyoming and Ontario, Canada, and we operate retail sportsbooks in Colorado, Connecticut, Illinois, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey and Washington. As of September 30, 2023, we operate our iGaming product offering in Connecticut, Michigan, New Jersey, Pennsylvania, West Virginia and Ontario, Canada. The Company also has arrangements in place with land-based casinos to expand operations into additional states upon the passing of relevant legislation, the issuance of related regulations and the receipt of required licenses. On May 5, 2022 (the “GNOG Closing Date”), DraftKings Inc. (formerly New Duke Holdco, Inc.) consummated the acquisition of Golden Nugget Online Gaming, Inc., a Delaware corporation (together with its subsidiaries unless the context requires otherwise, “GNOG”), pursuant to a definitive agreement and plan of merger, dated August 9, 2021 (the “GNOG Merger Agreement”), in an all-stock transaction (the “GNOG Transaction”). In connection with the GNOG Transaction, DraftKings Inc. undertook a holding company reorganization whereby (i) each share of DraftKings Holdings Inc. (formerly DraftKings Inc.), a Nevada corporation (“Old DraftKings”), Class A common stock and Class B common stock was converted on a one-for-one basis into a share of DraftKings Inc. Class A common stock and Class B common stock, respectively, and (ii) DraftKings Inc. became the going-forward public company and the direct parent company of both Old DraftKings and GNOG. DraftKings Inc. is the registrant filing this Quarterly Report on Form 10-Q as the successor registrant for Old DraftKings. Unless otherwise indicated or the context otherwise requires, the terms “DraftKings”, the “Company”, “we”, “us” and “our” refer to DraftKings Inc. (or, with respect to periods prior to the GNOG Closing Date, Old DraftKings), together with its consolidated subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Practices	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Practices	Summary of Significant Accounting Policies and Practices Basis of Presentation and Principles of Consolidation These unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting. As such, certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and related notes as of and for the fiscal year ended December 31, 2022, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as filed with the SEC on February 17, 2023 (the “2022 Annual Report”). These condensed consolidated financial statements are unaudited; however, in the opinion of management, they include all normal and recurring adjustments necessary for a fair presentation of the Company’s condensed consolidated financial statements for the periods presented. Results of operations reported for interim periods are not necessarily indicative of results for the entire year, due to seasonal fluctuations in the Company’s revenue as a result of the timing of various sports seasons, sporting events and other factors. The Company consummated the GNOG Transaction on the GNOG Closing Date. In the GNOG Transaction, the Company was determined to be the accounting acquirer and, as such, the acquisition is considered a business combination under Accounting Standards Codification (“ASC”) Topic 805, Business Combinations , and was accounted for using the acquisition method of accounting. These unaudited condensed consolidated financial statements include the accounts and operations of the Company, except that, due to the timing of the consummation of the GNOG Transaction, these unaudited condensed consolidated financial statements exclude the operations of GNOG prior to the GNOG Closing Date. All intercompany accounts and transactions are eliminated upon consolidation. Certain amounts, which are not material, in the prior year’s consolidated financial statements have been reclassified to conform to the current year's presentation. Segments The Company regularly reviews its operating segments and the approach used by the chief operating decision maker (“CODM”) to evaluate performance and allocate resources. As a result of the Company’s acquisition of DK Crown Holdings Inc. (formerly DraftKings Inc.), a Delaware corporation, and SBTech (Global) Limited (“SBTech”) and the consummation of the transactions contemplated by the business combination agreement, dated December 22, 2019 (as amended), in April 2020, the Company began to identify two distinct operating segments: a business-to-consumer (“B2C”) segment, which included its Sportsbook, iGaming and DFS product offerings, as well as media and other consumer product offerings, and a business-to-business (“B2B”) segment, which had principal activities involving the design and development of gaming software. However, beginning in the fourth quarter of 2022, as a result of the Company’s integration of the technology and expertise of SBTech, the Company began to view the B2B segment primarily as a cost center of the B2C segment and, therefore, began to operate its business and report its results as a single operating segment. The Company’s determination that it operates as a single segment is consistent with the CODM's regular review of consolidated financial information for the purposes of evaluating performance, allocating resources and planning and forecasting for future periods. Prior periods have been reclassified to conform with the new segment presentation. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”), which clarifies the guidance in ASC Topic 820, Fair Value Measurement (“Topic 820”), when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. While the Company is continuing to assess the timing of adoption and the potential impacts of ASU 2022-03, it does not expect ASU 2022-03 to have a material effect on the Company’s consolidated financial condition, results of operations or cash flows.

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business CombinationAcquisition of Golden Nugget Online Gaming, Inc. On May 5, 2022, DraftKings consummated the GNOG Transaction, and, under the terms of the GNOG Merger Agreement and subject to certain exclusions contained therein, GNOG stockholders received a fixed ratio of 0.365 shares of DraftKings Inc.’s Class A common stock for each share of GNOG that they held on the GNOG Closing Date. DraftKings Inc. issued approximately 29.3 million shares of its Class A common stock in connection with the consummation of the GNOG Transaction. Operating results for GNOG following the GNOG Closing Date are included in the Company’s consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022 . Purchase Price Accounting for the GNOG Transaction On the GNOG Closing Date, the Company acquired 100% of the equity interests of GNOG pursuant to the GNOG Merger Agreement. The following is a summary of the consideration issued on the GNOG Closing Date: Share consideration (1) $ 460,128 Other consideration (2) 143,337 Total consideration $ 603,465 (1) Includes the issuance of approximately 29.3 million shares of DraftKings Inc.’s Class A common stock issued at a price of $15.73. (2) Includes (i) $170.9 million of payments made by the Company on behalf of GNOG, including repayment of the outstanding portion of GNOG’s term loan (including the associated prepayment premium) and payment of certain of GNOG’s transaction expenses incurred in connection with the GNOG Transaction and (ii) warrants that were exercisable for shares of GNOG Class A common stock prior to the GNOG Closing Date, which were assumed by DraftKings in connection with the GNOG Transaction and became eligible to be converted into approximately 2.1 million shares of DraftKings Inc.’s Class A common stock in the aggregate. These payments were partially offset by commercial credits received by the Company from Fertitta Entertainment, Inc. (“FEI”), which can be applied by the Company from time to time to offset future amounts otherwise owed by it to FEI or its affiliates under commercial arrangements among such parties, subject to certain limited exceptions. The following table summarizes the consideration issued or paid in connection with the GNOG Transaction and the fair value of the assets acquired and liabilities assumed in connection with the consummation of the GNOG Transaction on the GNOG Closing Date: Cash and cash equivalents $ 66,709 Cash reserved for users 7,633 Receivables reserved for users 2,814 Accounts receivables 7,783 Prepaid expenses and other current assets 64 Property and equipment, net 1,433 Intangible assets, net 315,000 Operating lease right-of-use assets 1,185 Deposits and other non-current assets 47,395 Total identifiable assets acquired 450,016 Liabilities assumed: Accounts payable and accrued expenses 32,989 Liabilities to users 4,314 Operating lease liabilities 1,185 Other long-term liabilities 78,781 Total liabilities assumed 117,269 Net assets acquired (a) $ 332,747 Purchase consideration (b) $ 603,465 Goodwill (b) – (a) $ 270,718 Goodwill represents the excess of the gross consideration transferred over the difference between the fair value of the underlying net assets acquired and the underlying liabilities assumed. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of benefits from securing buyer-specific synergies that increase revenue and profits and are not otherwise available to a market participant, as well as acquiring a talented workforce and cost savings opportunities. Goodwill associated with the GNOG Transaction was assigned as of the GNOG Closing Date to the Company’s B2C reporting unit. Goodwill recognized is partially deductible for tax purposes, and the amount of deductible goodwill was determined to be $160.7 million. Intangible Assets Fair Value Weighted- Gaming licenses $ 145,000 12.2 years Customer relationships 170,000 5.9 years Total $ 315,000 Loan Receivable The Company acquired a long-term receivable in the amount of $30.1 million in connection with the GNOG Transaction, which originally resulted from a $30.0 million mezzanine loan (the “Danville GN Casino Loan”) by GNOG to certain parties before the GNOG Closing Date to develop and construct a “Golden Nugget”-branded casino in Danville, Illinois that, pending regulatory approvals, would enable GNOG to obtain market access to the State of Illinois. There has been no significant deterioration of credit quality since the origination date of the Danville GN Casino Loan. The receivable related to the Danville GN Casino Loan is classified within deposits and other non-current assets on the Company’s consolidated balance sheet. Unaudited Pro-Forma Information The financial information in the table below summarizes the combined results of operations of Old DraftKings and GNOG, on an actual and a pro forma basis, as applicable, as though the companies had been combined as of January 1, 2021. The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the GNOG Transaction had been consummated as of the beginning of the periods presented or of results that may occur in the future. Three months ended September 30, Nine months ended September 30, 2023 Actual 2022 Pro Forma 2023 Actual 2022 Pro Forma Revenue $ 789,957 $ 501,938 $ 2,434,536 $ 1,429,463 Net loss $ (283,103) $ (450,494) $ (757,521) $ (1,137,037) The foregoing pro forma financial information is based on estimates and assumptions, which the Company believes are reasonable. The pro forma financial information includes adjustments primarily related to purchase accounting adjustments. Acquisition costs and other non-recurring charges incurred are included in the period of assumed acquisition.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible Assets The Company has the following intangible assets, net as of September 30, 2023: Weighted-Average Remaining Amortization Period Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Developed technology 4.6 years $ 422,900 $ (179,985) $ 242,915 Internally developed software 2.3 years 227,882 (104,217) 123,665 Gaming licenses 10.6 years 217,626 (42,752) 174,874 Customer relationships 4.2 years 269,728 (114,718) 155,010 Trademarks, tradenames and other 3.5 years 37,674 (19,080) 18,594 Indefinite-lived intangible assets: Digital assets, net of impairment Indefinite-lived 3,900 — 3,900 Total $ 1,179,710 $ (460,752) $ 718,958 The Company had the following intangible assets, net as of December 31, 2022: Weighted-Average Remaining Amortization Period Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Developed technology 5.4 years $ 422,900 $ (140,200) $ 282,700 Internally developed software 2.4 years 168,277 (70,575) 97,702 Gaming licenses 11.0 years 206,655 (29,487) 177,168 Customer relationships 4.6 years 269,728 (75,791) 193,937 Trademarks, tradenames and other 3.8 years 36,193 (13,463) 22,730 Indefinite-lived intangible assets: Digital assets, net of impairment Indefinite-lived 2,697 — 2,697 Intangible assets, net $ 1,106,450 $ (329,516) $ 776,934 Amortization expense was $45.1 million and $131.2 million for the three and nine months ended September 30, 2023, respectively, and $40.6 million and $106.8 million for the three and nine months ended September 30, 2022, respectively.

Current and Long-term Liabiliti

Current and Long-term Liabilities	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Current and Long-term Liabilities	Current and Long-term Liabilities Revolving Line of Credit On December 20, 2022, the Company entered into a loan and security agreement with Pacific Western Bank and Citizens Bank, as lenders (as amended, the “Credit Agreement”), which provides the Company with a revolving line of credit of up to $125.0 million (the “Revolving Line of Credit”). The Credit Agreement has a maturity date of December 20, 2024 and replaced the Company’s amended and restated loan and security agreement entered into with Pacific Western Bank in October 2016, which provided a revolving line of credit of up to $60.0 million and was terminated in connection with the Company’s entry into the Credit Agreement. Borrowings under the Credit Agreement bear interest at a variable annual rate equal to the greater of (i) 1.00% above the prime rate then in effect and (ii) 5.00%, and the Credit Agreement requires monthly, interest-only payments on any outstanding borrowings. In addition, the Company is required to pay quarterly in arrears a commitment fee equal to 0.25% per annum of the unused portion of the Revolving Line of Credit. As of September 30, 2023, the Credit Agreement provided a revolving line of credit of up to $125.0 million, and there was no principal outstanding under the Credit Agreement. Net borrowing capacity available from the Credit Agreement as of September 30, 2023 totaled $122.7 million. The Company is also subject to certain affirmative and negative covenants under the Credit Agreement, which the Company was in compliance with as of September 30, 2023. Surety Bonds As of September 30, 2023, the Company has been issued $175.0 million in surety bonds at a combined annual premium cost of 0.4%, which are held for certain regulators’ use and benefit in order for the Company to satisfy state license requirements. There have been no claims against such bonds and the likelihood of future claims is remote. Convertible Notes and Capped Call Transactions In March 2021, Old DraftKings issued zero-coupon convertible senior notes in an aggregate principal amount of $1,265.0 million, which includes proceeds from the full exercise of the over-allotment option (collectively, the “Convertible Notes”). The Convertible Notes will mature on March 15, 2028 (the “Notes Maturity Date”), subject to earlier conversion, redemption or repurchase. In connection with the issuance of the Convertible Notes, Old DraftKings incurred $17.0 million of lender fees and $1.7 million of debt financing costs, which are being amortized through the Notes Maturity Date. The Convertible Notes represent senior unsecured obligations of Old DraftKings. On May 5, 2022, in connection with the consummation of the GNOG Transaction, (i) DraftKings Inc. agreed to fully and unconditionally guarantee all of Old DraftKings’ obligations under the Convertible Notes and the indenture governing the Convertible Notes and (ii) each Convertible Note which was outstanding as of the consummation of the GNOG Transaction and previously convertible into shares of Old DraftKings Class A common stock became convertible into shares of DraftKings Inc. Class A common stock. The Convertible Notes are convertible at an initial conversion rate of 10.543 shares of DraftKings Inc.'s Class A common stock per $1,000 principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $94.85 per share of Class A common stock. The conversion rate is subject to adjustment upon the occurrence of certain specified events and includes a make-whole adjustment upon early conversion in connection with a make-whole fundamental change (as defined in the indenture governing the Convertible Notes). Prior to September 15, 2027, the Convertible Notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the Notes Maturity Date. Old DraftKings will satisfy any conversion election by paying or delivering, as the case may be, cash, shares of DraftKings Inc.’s Class A common stock or a combination of cash and shares of DraftKings Inc.’s Class A common stock. In connection with the pricing of the Convertible Notes and the exercise of the over-allotment option to purchase additional notes, Old DraftKings entered into a privately negotiated capped call transaction (the “Capped Call Transactions”). The Capped Call Transactions have a strike price of $94.85 per share, subject to certain adjustments, which corresponds to the initial conversion price of the Convertible Notes. The Capped Call Transactions have an initial cap price of $135.50 per share, subject to certain adjustments. The Capped Call Transactions are expected generally to reduce potential dilution to the Company’s Class A common stock upon any conversion of Convertible Notes. As the Capped Call Transactions qualify for equity classification, the net cost of $124.0 million incurred in connection with the Capped Call Transactions was recorded as a reduction to additional paid-in capital on the Company’s consolidated balance sheet. As of September 30, 2023, the Company’s convertible debt balance was $1,253.1 million, net of unamortized debt issuance costs of $11.9 million. Amortization of debt issuance costs was $0.7 million and $2.0 million for the three and nine months ended September 30, 2023, respectively, and $0.7 million and $2.0 million for the three and nine months ended September 30, 2022, which are included in the interest expense line-item on the Company's consolidated statements of operations. Although recorded at amortized cost on the Company’s consolidated balance sheets, the estimated fair value of the Convertible Notes was $963.8 million and $786.5 million as of September 30, 2023 and December 31, 2022, respectively, which was calculated using the estimated or actual bids and offers of the Convertible Notes in an over-the-counter market on the last business day of the period, which is a Level 1 fair value measurement. Indirect Taxes Taxation of e-commerce is becoming more prevalent and could negatively affect the Company’s business as it pertains to DFS and its contestants. The ultimate impact of indirect taxes on the Company’s business is uncertain, as is the period required to resolve this uncertainty. The Company’s estimated contingent liability for indirect taxes represents the Company’s best estimate of tax liability in jurisdictions in which the Company believes taxation is probable. The Company frequently reevaluates its tax positions for appropriateness. Indirect tax statutes and regulations are complex and subject to differences in application and interpretation. Tax authorities may impose indirect taxes on Internet-delivered activities based on statutes and regulations which, in some cases, were established prior to the advent of the Internet and do not apply with certainty to the Company’s business. The Company’s estimated contingent liability for indirect taxes may be materially impacted by future audit results, litigation, and settlements, should they occur. The Company’s activities by jurisdiction may vary from period to period, which could result in differences in the applicability of indirect taxes from period to period. As of September 30, 2023 and December 31, 2022, the Company’s estimated contingent liability for indirect taxes was $68.3 million and $60.3 million, respectively. The estimated contingent liability for indirect taxes is recorded within other long-term liabilities on the condensed consolidated balance sheets and general and administrative expenses on the condensed consolidated statements of operations. Warrant Liabilities As part of the initial public offering of Diamond Eagle Acquisition Corp. ("DEAC") on May 14, 2019 (the “IPO”), DEAC issued 13.3 million warrants each of which entitles the holder to purchase one share of DraftKings Inc.’s Class A common stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously with the closing of the IPO, DEAC completed the private sale of 6.3 million warrants to DEAC’s sponsor (the “Private Warrants”), each of which entitles the holder to purchase one share of DraftKings Inc.’s Class A common stock at an exercise price of $11.50 per share. As of September 30, 2023, there were no Public Warrants outstanding and 1.5 million Private Warrants outstanding. On May 5, 2022, in connection with the consummation of the GNOG Transaction, Old DraftKings entered into an assignment and assumption agreement (the “Old DraftKings Warrant Assignment Agreement”) with DraftKings Inc., Computershare Trust Company, N.A. and Computershare Inc. (together, “Computershare”), pursuant to which Old DraftKings assigned to DraftKings Inc. all of its rights, interests and obligations under the warrant agreement, dated as of May 10, 2019 (the “Old DraftKings Warrant Agreement”), by and between DEAC and Continental Stock Transfer & Trust Company, as warrant agent, as assumed by Old DraftKings and assigned to Computershare by that certain assignment and assumption agreement, dated as of April 23, 2020, governing Old DraftKings’ outstanding Private Warrants, on the terms and conditions set forth in the Old DraftKings Warrant Assignment Agreement. In connection with the consummation of the GNOG Transaction and pursuant to the Old DraftKings Warrant Assignment Agreement, each of the outstanding Private Warrants became exercisable for one share of DraftKings Inc. Class A common stock on the existing terms and conditions, except as otherwise described in the Old DraftKings Warrant Assignment Agreement. In addition, on May 5, 2022, in connection with the consummation of the GNOG Transaction, the Company assumed an additional 5.9 million warrants, each of which entitled the holder to purchase one share of GNOG’s Class A common stock at an exercise price of $11.50 per share (the “GNOG Private Warrants”). Effective as of the consummation of the GNOG Transaction, each of the outstanding GNOG Private Warrants became exercisable for 0.365 of a share of DraftKings Inc.'s Class A common stock, or approximately 2.1 million shares of DraftKings Inc.’s Class A common stock in the aggregate, on the existing terms and conditions of such GNOG Private Warrants, except as otherwise described in the assignment and assumption agreement relating to the GNOG Private Warrants entered into on the GNOG Closing Date. As of September 30, 2023, there were 5.9 million GNOG Private Warrants outstanding. The Company classifies the Public Warrants, the Private Warrants and the GNOG Private Warrants pursuant to ASC Topic 815, Derivatives and Hedging, as derivative liabilities with subsequent changes in their respective fair values recognized in its consolidated statement of operations at each reporting date. As of September 30, 2023, the fair value of the Company’s warrant liability was $53.7 million . Due to fair value changes during the three and nine months ended September 30, 2023, the Company recorded losses on the remeasurement of its warrant liabilities of $7.8 million and $44.8 million, respectively. The Company recorded a loss on the remeasurement of its warrant liability of $6.8 million for the three months ended September 30, 2022 and a gain on the remeasurement of its warrant liability of $20.2 million

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value and nonrecurring fair value measurements are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value as of September 30, 2023 and December 31, 2022 based on the three-tier fair value hierarchy: September 30, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 212,218 (1) $ — $ — $ 212,218 Other current assets: Digital assets held for users — 65,930 (6) — 65,930 Other non-current assets: Derivative instruments — — 19,999 (4) 19,999 Equity securities — 13,533 (3) — 13,533 Total $ 212,218 $ 79,463 $ 19,999 $ 311,680 Liabilities Digital assets held for users $ — $ 65,930 (6) $ — $ 65,930 Warrant liabilities — 53,695 (5) — 53,695 Total $ — $ 119,625 $ — $ 119,625 December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 304,216 (1) $ — $ — $ 304,216 Other current assets: Digital assets held for users — 38,444 (6) — 38,444 Other non-current assets: Derivative instruments — — 26,248 (4) 26,248 Equity securities 18,250 (2) 13,533 (3) — 31,783 Total $ 322,466 $ 51,977 $ 26,248 $ 400,691 Liabilities Digital assets held for users — $ 38,444 (6) — $ 38,444 Warrant liabilities $ — $ 10,680 (5) $ — 10,680 Total $ — $ 49,124 $ — $ 49,124 (1) Represents the Company’s money market funds, which are classified as Level 1 because the Company measures the fair value of these assets using quoted market prices. (2) Represents the Company’s marketable equity securities, which are classified as Level 1 because the Company measures the fair value of these assets using quoted market prices. (3) Represents the Company’s non-marketable equity securities, which are classified as Level 2 because the Company measures the fair value of these assets using observable inputs for similar investments of the same issuer. The Company has elected the remeasurement alternative for these assets. (4) Represents the Company’s derivative instruments held in other public and privately held entities. The Company measures the fair value of these derivative instruments using option pricing models and, accordingly, classifies these assets as Level 3. During the nine months ended September 30, 2023, we sold Level 3 derivative instruments with a fair value at December 31, 2022 of $6.2 million for proceeds of $5.3 million and there were no new Level 3 derivative instruments purchased by or issued to the Company. The table below includes a range and an average weighted by relative fair value of the significant unobservable inputs used to measure the fair value of the Level 3 derivative instruments. A change in these significant unobservable inputs might result in a significantly higher or lower fair value measurement at the reporting date. September 30, 2023 December 31, 2022 Significant Unobservable Input Range (Weighted Average) Range (Weighted Average) Underlying stock price $12.79 - $19.80 ($19.41) $7.30 - $19.80 ($16.53) Volatility 75.0% - 80.0% (79.7%) 56.0% - 80.0% (74.1%) Risk-free rate 1.3% - 4.2% (4.0%) 1.3% - 4.3% (4.1%) (5) The Company measures the fair value of its warrant liabilities using a binomial lattice model or a Black-Scholes model, where appropriate, with the significant assumptions being observable inputs and, accordingly, classifies these liabilities as Level 2. (6) Represents the asset and liability balance for the digital assets held by the Company for its users, which are classified as Level 2 because the Company measures the fair value of these digital assets using observable inputs for similar transactions. For the three and nine months ended September 30, 2023, the Company recorded zero unrealized gains or losses and $0.1 million of unrealized gains on its financial assets carried at fair value, respectively. For the three and nine months ended September 30, 2022, the Company recorded $0.7 million and $32.5 million of unrealized gains, respectively, which primarily resulted from those financial assets categorized as Level 3. Those unrealized gains and losses are included within other income, net in the condensed consolidated statements of operations.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Deferred Revenue The Company includes deferred revenue within accounts payable and accrued expenses and within liabilities to users in the condensed consolidated balance sheets. The deferred revenue balances were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Deferred revenue, beginning of the period $ 105,478 $ 84,674 $ 133,851 $ 91,554 Deferred revenue, end of the period $ 239,225 $ 165,185 $ 239,225 $ 165,185 Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period $ 85,122 $ 34,621 $ 133,054 $ 70,042 Deferred revenue primarily represents contract liabilities related to the Company’s obligation to transfer future value in relation to in period transactions in which the Company has received consideration. These obligations are primarily related to incentive programs and wagered amounts associated with unsettled or pending outcomes that fluctuate based on volume of activity. Such obligations are recognized as liabilities when awarded to users and are recognized as revenue when those liabilities are later resolved. Revenue Disaggregation Disaggregation of revenue for the three and nine months ended September 30, 2023 and 2022 is as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Online gaming $ 768,265 $ 468,455 $ 2,353,293 $ 1,289,257 Gaming software 6,304 9,093 23,495 34,057 Other 15,388 24,390 57,748 62,014 Total Revenue $ 789,957 $ 501,938 $ 2,434,536 $ 1,385,328 Online gaming includes Sportsbook, iGaming and DFS, which have certain similar attributes and patterns of recognition. Sources of other revenue primarily include media and other consumer product offerings. The opening and closing balances of the Company's accounts receivable from contracts with customers were $51.1 million and $27.8 million for the nine months ended September 30, 2023, respectively, and $45.9 million and $41.0 million for the nine months ended September 30, 2022, respectively.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based CompensationThe Company has historically issued three types of stock-based compensation: time-based awards, long-term incentive plan (“LTIP”) awards and performance-based stock compensation plan (“PSP”) awards. Time-based awards are equity awards that tie vesting to length of service with the Company and generally vest over a four-year period in annual and/or quarterly installments. LTIP awards are performance-based equity awards that are used to establish longer-term performance objectives and incentivize management to meet those objectives. PSP awards are performance-based equity awards which establish performance objectives related to one or two particular fiscal years. LTIP awards generally vest when revenue and/or Adjusted EBITDA targets are achieved amongst other conditions, while PSP awards generally vest upon achievement of revenue and/or Adjusted EBITDA targets and have a range of payouts amongst other conditions. All stock-based compensation awards expire seven The following table shows restricted stock unit (“RSU”) and stock option activity for the nine months ended September 30, 2023: Time-Based PSP LTIP Total Weighted Average Exercise Price of Options Weighted Average FMV Options RSUs Options RSUs Options RSUs Outstanding at December 31, 2022 12,259 15,273 2,273 13,119 11,152 13,864 67,940 $ 6.17 $ 29.64 Granted 600 11,128 — 2,240 — 209 14,177 25.81 18.77 Exercised options / vested RSUs (1,152) (5,460) (546) (1,715) (646) (8,342) (17,861) 3.85 42.07 Change in awards due to performance-based multiplier — — — 1,141 — — 1,141 — 60.25 Forfeited (285) (1,508) — (893) — (387) (3,073) 6.88 21.98 Outstanding at September 30, 2023 11,422 19,433 1,727 13,892 10,506 5,344 62,324 $ 6.68 $ 22.35 As of September 30, 2023, total unrecognized stock-based compensation expense of $602.4 million related to granted and unvested stock-based compensation arrangements is expected to be recognized over a weighted-average period of 2.7 years. The following tables shows stock compensation expense for the three and nine months ended September 30, 2023 and 2022: Three months ended September 30, 2023 Three months ended September 30, 2022 Options RSUs Total Options RSUs Total Time-based (1) $ 1,849 $ 39,936 $ 41,785 $ 3,577 $ 25,924 $ 29,501 PSP (2) — 21,876 21,876 — 11,368 11,368 LTIP (2) — 14,692 14,692 — 85,169 85,169 Total $ 1,849 $ 76,504 $ 78,353 $ 3,577 $ 122,461 $ 126,038 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Options RSUs Total Options RSUs Total Time-based (1) $ 8,239 $ 123,495 $ 131,734 $ 11,271 $ 74,693 $ 85,964 PSP (2) — 81,763 81,763 — 68,499 68,499 LTIP (2) — 71,449 71,449 — 294,173 294,173 Total $ 8,239 $ 276,707 $ 284,946 $ 11,271 $ 437,365 $ 448,636 (1) Time-based awards vest and are expensed over a defined service period. (2) PSP and LTIP awards vest based on defined performance criteria and are expensed based on the probability of achieving such criteria. During the three months ended March 31, 2022, the Company recorded a cumulative catch-up adjustment of $20.7 million in additional stock-based compensation expense related to its updated expectation of achieving higher revenue targets than originally estimated for certain PSP awards which have a range of payouts.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision (benefit) for income taxes for the three and nine months ended September 30, 2023 and 2022 is as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Income tax provision (benefit) $ 1,291 $ 3,177 $ 3,310 $ (77,580) The effective tax rates for the three months ended September 30, 2023 and 2022 were (0.5)% and (0.7)%, respectively, and the effective tax rates for the nine months ended September 30, 2023 and 2022 were (0.4)% and 6.4%, respectively. The difference between the Company’s effective tax rates for the three and nine month periods ended September 30, 2023 and 2022 and the U.S. statutory tax rate of 21% was primarily due to a valuation allowance related to the Company’s deferred tax assets,

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share The computation of loss per share and weighted-average shares of the Company's Class A common stock outstanding for the periods presented are as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Net loss attributable to common stockholders $ (283,103) $ (450,494) $ (757,521) $ (1,135,290) Basic and diluted weighted-average common shares outstanding 464,773 448,331 460,762 432,278 Loss per share attributable to common stockholders: Basic and diluted $ (0.61) $ (1.00) $ (1.64) $ (2.63) There were no preferred or other dividends declared for the three and nine months ended September 30, 2023. For the periods presented, the following securities were not required to be included in the computation of diluted shares outstanding: September 30, 2023 September 30, 2022 Class A common stock resulting from exercise of all warrants $ 3,630 $ 3,761 Stock options and RSUs 62,324 52,717 Convertible notes 13,337 13,337 Total $ 79,291 $ 69,815

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Financial Advisor On May 7, 2021, DraftKings entered into a master engagement letter (as amended, the “Master Engagement Letter”), with Raine Securities LLC (the “Financial Advisor”), an affiliate of Raine. John Salter, who served as a member of our Board of Directors until April 2022, is a partner of Raine. Pursuant to the Master Engagement Letter, Raine Securities will act as a financial advisor to DraftKings in connection with certain proposed transactions, and DraftKings will pay Raine Securities certain fees and expenses from time to time on the terms and conditions described in the related statements of work. For the three and nine months ended September 30, 2023, the Company incurred no fees payable to the Financial Advisor. During the three and nine months ended September 30, 2022, the Company incurred $8.5 million of fees payable to the Financial Advisor. Receivables from Equity Method Investment The Company provides office space and general operational support to DKFS, LLC, an equity-method affiliate. The operational support is primarily in the form of general and administrative services. As of September 30, 2023 and December 31, 2022, the Company had no receivables and $0.2 million of receivables, respectively, from DKFS, LLC related to those services and expenses to be reimbursed to the Company, which are included within non-current assets in its condensed consolidated balance sheets. The Company has committed to invest up to $17.5 million into DBDK Venture Fund I, LP, a Delaware limited partnership and a subsidiary of DKFS, LLC. As of September 30, 2023, the Company had invested a total of $6.7 million of the total commitment. Transactions with a Former Director and their Immediate Family Members For the three and nine months ended September 30, 2023, the Company had $0.2 million and $1.4 million in sales, respectively, to entities owned by an immediate family member of a former director of the Company. The Company had an associated accounts receivable balance of $0.1 million and $0.2 million a s of September 30, 2023 and December 31, 2022, respectively, included in accounts receivable in its condensed consolidated balance sheets. Aircraft In 2022, from time to time, the Company chartered, without mark-up, a private plane owned by an entity controlled by Jason Robins, the Company’s Chief Executive Officer, utilizing aircraft services from Jet Aviation Flight Services, Inc. for the business and personal travel of Mr. Robins and his family. The Company had no direct or indirect interest in such private plane. During the three and nine months ended September 30, 2023, the Company incurred no expense for use of the aircraft under these chartering services. During the three and nine months ended September 30, 2022, the Company incurred no expense and a $0.7 million expense for use of the aircraft under these chartering services, respectively. On March 30, 2022, the Company entered into a one-year lease of an aircraft from an entity controlled by Mr. Robins, pursuant to which Mr. Robins’ entity leased the aircraft to the Company for $0.6 million for a one-year period (the “Original Aircraft Lease”). The Company covered all operating, maintenance and other expenses associated with the aircraft. The Original Aircraft Lease expired in accordance with its terms on March 30, 2023, and DraftKings entered into a new one-year lease of such aircraft from an entity controlled by Mr. Robins for $0.6 million and otherwise on terms and conditions substantially the same as the Original Aircraft Lease, effective upon the expiration thereof (collectively with the Original Aircraft Lease, the “Aircraft Leases”). The audit and compensation committees of the Company’s Board of Directors approved this arrangement, as well as the Aircraft Leases, based on, among other things, the requirements of the overall security program that Mr. Robins and his family fly private and the committees' assessment that such an arrangement is more efficient and flexible and better ensures safety, confidentiality and privacy. During the three and nine months ended September 30, 2023, the Company incurred $0.1 million and $0.5 million of expense under the Aircraft Leases, respectively.

Leases, Commitments and Conting

Leases, Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Leases, Commitments and Contingencies	Leases, Commitments and Contingencies Leases The Company primarily leases corporate office facilities, data centers and motor vehicles under operating lease agreements. Some of the Company’s leases include one or more options to renew. For a majority of our leases, we do not assume renewals in our determination of the lease term as the renewals are not deemed to be reasonably assured. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. As of September 30, 2023, the Company’s lease agreements typically have terms not exceeding ten years. Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments primarily represent costs related to common area maintenance and utilities. The components of lease cost are as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Operating lease cost $ 5,779 $ 5,562 $ 14,298 $ 15,471 Short term lease cost 361 1,550 2,221 4,628 Variable lease cost 1,382 984 4,215 2,863 Sublease income (236) (255) (704) (715) Total lease cost $ 7,286 $ 7,841 $ 20,030 $ 22,247 Supplemental cash flow and other information for the nine months ended September 30, 2023 and 2022 related to operating leases was as follows: Nine months ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 9,830 $ 12,511 Right-of-use assets obtained in exchange for new operating lease liabilities $ 22,221 $ 23,056 The weighted-average remaining lease term for the Company's operating leases was 7.5 years, and the weighted-average discount rate for the Company's operating leases was 6.5%, in each case as of September 30, 2023. The Company calculated the weighted-average discount rate using incremental borrowing rates, which equal the rates of interest that it would pay to borrow funds on a fully collateralized basis over a similar term. Maturities of lease liabilities are as follows: Years Ending December 31, From October 1, 2023 to December 31, 2023 $ 3,711 2024 15,768 2025 14,616 2026 14,528 2027 11,455 Thereafter 50,372 Total undiscounted future cash flows 110,450 Less: Imputed interest (21,392) Present value of undiscounted future cash flows $ 89,058 Other Contractual Obligations and Contingencies The Company is party to several non-cancelable contracts with vendors where the Company is obligated to make future minimum payments under the terms of these contracts as follows: Years Ending December 31, From October 1, 2023 to December 31, 2023 $ 126,691 2024 439,149 2025 346,934 2026 195,764 2027 112,088 Thereafter 265,029 Total $ 1,485,655 Contingencies From time to time, and in the ordinary course of business, the Company may be subject to certain claims, charges and litigation concerning matters arising in connection with the conduct of the Company’s business activities. Interactive Games LLC On June 14, 2019, Interactive Games LLC filed suit against the Company in the U.S. District Court for the District of Delaware, alleging that our Daily Fantasy Sports product offering infringes two patents and the Company’s Sportsbook product offering infringes two different patents. The Company intends to vigorously defend this case. In the event that a court ultimately determines that the Company is infringing the asserted patents, it may be subject to substantial damages, which may include treble damages and/or an injunction that could require the Company to modify certain features that we currently offer. The Company cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on the Company's financial condition, although the outcome could be material to the Company's operating results for any particular period, depending, in part, upon our operating results for such period. Winview Inc. On July 7, 2021, Winview Inc., a Delaware corporation, filed suit against the Company in the U.S. District Court for the District of New Jersey, which was subsequently amended on July 28, 2021, alleging that our Sportsbook product offering infringes two patents, our Daily Fantasy Sports product offering infringes one patent, and that our Sportsbook product offering and Daily Fantasy Sports product offering infringe another patent. On November 15, 2021, Winview Inc. filed a second amended complaint (the “SAC”), adding as defendants DK Crown Holdings Inc. and Crown Gaming Inc., a Delaware corporation, which are wholly-owned subsidiaries of the Company. The SAC largely repeats the allegations of the first amended complaint. The Company intends to vigorously defend this case. In the event that a court ultimately determines that the Company is infringing the asserted patents, it may be subject to substantial damages, which may include treble damages and/or an injunction that could require the Company to modify certain features that we currently offer. The Company cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on the Company's financial condition, although the outcome could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. Securities Matters Arising From the Hindenburg Report and Related Matters On July 2, 2021, the first of two substantially similar federal securities law putative class actions was filed in the U.S. District Court for the Southern District of New York against the Company and certain of its officers. The actions alleged violations of Sections 10(b) and 20(a) of the Exchange Act on a behalf of a putative class of persons who purchased or otherwise acquired the Company's stock between December 23, 2019 and June 15, 2021. The allegations related to, among other things, allegedly false and misleading statements and/or failures to disclose information about the Company’s business and prospects, based primarily upon the allegations concerning SBTech that were contained in a report published about the Company on June 15, 2021 by Hindenburg Research (the “Hindenburg Report”). On November 12, 2021, the court consolidated the two actions under the caption In re DraftKings Securities Litigation and appointed a lead plaintiff. The lead plaintiff filed a consolidated amended complaint on January 11, 2022. On January 10, 2023, the court granted the Company's motion to dismiss and final judgment was entered dismissing the action with prejudice. Beginning on July 9, 2021, the Company received subpoenas from the SEC seeking documents concerning, among other things, certain of the allegations raised in the Hindenburg Report, as well as the Company’s adherence to and disclosures regarding its compliance policies and procedures, and related matters. The Company intends to comply with the related requests and is cooperating with the SEC’s ongoing inquiry. The Company cannot predict with any degree of certainty the outcome of the SEC matter or determine the extent of any potential liabilities. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in the SEC matter could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of the SEC matter will have a material adverse effect on the Company's financial condition, although the outcome could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. Shareholder Derivative Litigation Related to Allegations in the Hindenburg Report On October 21, 2021, the first of five substantially similar putative shareholder derivative actions was filed in Nevada by alleged shareholders of the Company. The actions purported to assert claims on behalf of the Company against certain current and former officers and/or members of the Board of Directors of the Company and DEAC. The two actions filed in the U.S. District Court for the District of Nevada were subsequently consolidated, and two of the actions filed in Nevada state District Court in Clark County likewise were consolidated. A substantially identical fifth action was filed in Nevada state District Court in Clark County and was subsequently dismissed voluntarily by the plaintiff. The same plaintiff filed a substantially identical action in Massachusetts Superior Court, which was also dismissed voluntarily by the plaintiff. The Nevada actions purported to assert claims on behalf of the Company for, among other things, breach of fiduciary duty and corporate waste based primarily upon the allegations concerning SBTech that were contained in the Hindenburg Report. The federal court action in Nevada also contended that certain individuals are liable to the Company for any adverse judgment in the federal securities class actions described above under Sections 10(b) and 21D of the Exchange Act. The Nevada actions sought unspecified compensatory damages, changes to corporate governance and internal procedures, equitable and injunctive relief, restitution, costs and attorney’s fees. The Nevada actions were voluntarily dismissed without prejudice by the plaintiffs in state court on February 27, 2023 and in federal court on March 3, 2023. Matters Related to the GNOG Transaction On August 12, 2022, a putative class action was filed in Nevada state District Court in Clark County against Golden Nugget Online Gaming, Inc. (“GNOG Inc.”), the Company and one of its officers and two affiliates, as well as former officers or directors and the former controlling stockholder of GNOG Inc. and Jefferies LLC. The lawsuit asserts claims on behalf of a putative class of former minority stockholders of GNOG Inc. alleging that certain former officers and directors of GNOG Inc. and its former controlling stockholder (Tilman Fertitta and/or Fertitta Entertainment, Inc.) breached their fiduciary duties to minority stockholders of GNOG Inc. in connection with the GNOG Transaction, and the other defendants aided and abetted the alleged breaches of fiduciary duty. On September 9, 2022, two similar putative class actions were filed in the Delaware Court of Chancery against former directors of GNOG Inc. and its former controlling stockholder, one of which also names the Company and Jefferies Financial Group, Inc. as defendants. These pending actions in Delaware assert substantially similar claims on behalf of a putative class of former minority stockholders of GNOG Inc. alleging that certain former officers and directors of GNOG Inc. and its former controlling stockholder (Tilman Fertitta) breached their fiduciary duties to minority stockholders of GNOG Inc. in connection with the GNOG Transaction, and one of the actions also alleges that the Company aided and abetted the alleged breaches of fiduciary duty. On October 12, 2022, the Delaware Court of Chancery consolidated these two actions under the caption In re Golden Nugget Online Gaming, Inc. Stockholders Litigation. The Company intends to vigorously defend against these claims. The Company cannot predict with any degree of certainty the outcome of these matters or determine the extent of any potential liabilities. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of these proceedings will have a material adverse effect on the Company's financial condition, although the outcome could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. AG 18, LLC d/b/a/ Arrow Gaming On August 19, 2021, AG 18, LLC d/b/a/ Arrow Gaming (“Arrow Gaming”) filed a complaint against the Company in the United States District Court for the District of New Jersey alleging that the Company's DFS and Casino product offerings infringe four patents. On October 12, 2021, Arrow Gaming filed an amended complaint to add one additional patent. On December 20, 2021, Arrow Gaming filed a second amended complaint adding new allegations with respect to alleged willful infringement. The Company intends to vigorously defend this case. In the event that a court ultimately determines that the Company is infringing the asserted patents, it may be subject to substantial damages, which may include treble damages and/or an injunction that could require the Company to modify certain features that we currently offer. The Company cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on the Company's financial condition, although the outcome could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. Beteiro, LLC On November 22, 2021, Beteiro, LLC filed a complaint against the Company in the United States District Court for the District of New Jersey alleging that the Company’s Sportsbook and Casino product offerings infringe four patents. The Company intends to vigorously defend this case. In the event that a court ultimately determines that the Company is infringing the asserted patents, it may be subject to substantial damages, which may include treble damages and/or an injunction that could require the Company to modify certain features that we currently offer. The Company cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on the Company's financial condition, although the outcome could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. Diogenes Ltd. & Colossus (IOM) Ltd. On December 1, 2021, Diogenes Ltd. & Colossus (IOM) Ltd. (“Colossus”), filed a complaint against the Company in the United States District Court for the District of Delaware alleging that the Company’s Sportsbook product offering infringes seven patents. Colossus amended its complaint on February 7, 2022 to, among other things, add one additional patent. The Company intends to vigorously defend this case. In the event that a court ultimately determines that the Company is infringing the asserted patents, it may be subject to substantial damages, which may include treble damages and/or an injunction that could require the Company to modify certain features that we currently offer. The Company cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on the Company's financial condition, although the outcome could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. Steiner Nelson Steiner filed suit against the Company and FanDuel Inc. in Florida state court on November 9, 2015. The action was subsequently transferred to In Re: Daily Fantasy Sports Litigation (Multi-District Litigation) (the “MDL”), and Mr. Steiner’s action was consolidated into the MDL’s amended complaint, which, in February 2016, consolidated numerous actions (primarily purported class actions) filed against the Company, FanDuel, and other related parties in courts across the United States. By June 23, 2022, the MDL was resolved, except for Mr. Steiner’s action, and the court officially closed the MDL docket on July 8, 2022. Mr. Steiner brings this action as a concerned citizen of the state of Florida alleging that, among other things, defendants’ daily fantasy sports contests are illegal gambling under the state laws of Florida and seeks disgorgement of “gambling losses” purportedly suffered by Florida citizens on behalf of the state. On June 23, 2022, the MDL court remanded Mr. Steiner’s action to the Circuit Court for Pinellas County, Florida. Plaintiff has not yet filed an amended pleading. The Company intends to vigorously defend this suit. Any adverse outcome in this matter could subject the Company to substantial damages and it could be restricted from offering DFS contests in Florida. The Company cannot provide any assurance as to the outcome of this matter. The Company cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this matter will have a material adverse effect on Company’s financial condition, although the outcome could be material to the Company’s operating results for any particular period, depending, in part, upon the operating results for such period. Turley On January 9, 2023, Simpson G. Turley, individually and on behalf of all others similarly situated, filed a purported class action against the Company in the United States District Court for the District of Massachusetts. Plaintiff alleges, among other things, that he was a contestant in the Company’s daily fantasy showdown contest for the January 2, 2023 NFL game between the Cincinnati Bengals and the Buffalo Bills (the “Bengals-Bills Game”). The Bengals-Bills Game was postponed and eventually cancelled due to Damar Hamlin collapsing during the game. Plaintiff alleges that he was winning prizes in multiple showdown contests at the point in time that the Bengals-Bills Game was cancelled (with 5:58 remaining in the first quarter). Plaintiff alleges that, instead of paying out the prize money, the Company refunded entry fees to contestants that entered showdown or flash draft fantasy contests. On May 8, 2023, plaintiff Turley and a new plaintiff (Erik Ramos) filed a First Amended Class Action Complaint. The plaintiffs assert claims for breach of contract, unfair and deceptive acts and practices, false advertising, and unjust enrichment. Among other things, plaintiffs seek statutory damages, monetary damages, punitive damages, attorney fees and interest. The Company intends to vigorously defend this case. Any adverse outcome in this matter could subject the Company to substantial damages and/or require alterations to the Company’s business. The Company cannot provide any assurance as to the outcome of this matter. The Company cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in this matter could expose the Company to substantial damages or penalties that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this matter will have a material adverse effect on Company’s financial condition, although the outcome could be material to the Company’s operating results for any particular period, depending, in part, upon the operating results for such period. Securities Matters Related to DraftKings Marketplace On March 9, 2023, a putative class action was filed in Massachusetts federal court by alleged purchasers of non-fungible tokens (“NFTs”) on the DraftKings Marketplace (“DK Marketplace”). The complaint asserts claims for violations of federal and state securities laws against the Company and three of its officers on the grounds that, among other things, the NFTs that are sold and traded on the DK Marketplace allegedly constitute securities that were not registered with the SEC in accordance with federal and Massachusetts law, and that the DK Marketplace is a securities exchange that is not registered in accordance with federal and Massachusetts law. Based on these allegations, plaintiff brings claims seeking rescissory damages and other relief on behalf of himself and a putative class of persons who purchased NFTs on the DK Marketplace between August 11, 2021 and the present. The Company intends to vigorously defend this matter. On July 17, 2023, the Company received a subpoena from the Securities Division of the Office of the Secretary of the Commonwealth of Massachusetts seeking documents and requesting answers to interrogatories concerning, among other things, DK Marketplace and NFTs that are sold on DK Marketplace, and related matters. We intend to comply with these requests. The Company cannot predict with any degree of certainty the outcome of these matters or determine the extent of any potential liability or damages. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages, penalties and/or require alterations to the Company’s business that may have a material adverse impact on the Company’s operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of these matters will have a material adverse effect on Company’s financial condition, although the outcome could be material to the Company’s operating results for any particular period, depending, in part, upon the operating results for such period. Shareholder Derivative Litigation Related to DraftKings Marketplace On May 31, 2023, a putative shareholder derivative action was filed in Nevada state court by an alleged shareholder of the Company. The action asserts claims on behalf of the Company against certain senior officers and members of the Board of Directors of the Company for breach of fiduciary duty and unjust enrichment based primarily on allegations that the defendants caused or allowed the Company to disseminate misleading and inaccurate information to its shareholders in connection with NFTs that are sold and traded on the DK Marketplace. The action also alleges that certain individuals are liable for trading in Company stock at artificially inflated prices. The action seeks unspecified compensatory damages, changes to corporate governance and internal procedures, restitution, disgorgement, costs and attorney’s fees, and other unspecified relief. The Company cannot predict with any degree of certainty the outcome of this matter or determine the extent of any potential liabilities. The Company also cannot provide an estimate of the possible loss or range of loss. Because this action alleges claims on behalf of the Company and purports to seek a judgment in favor of the Company, the Company does not believe, based on currently available information, that the outcome of the proceedings will have a material adverse effect on the Company’s financial condition, although the outcome could be material to the Company’s operating results for any particular period, depending, in part, upon the operating results for such period. Internal Revenue Service The Company is currently under Internal Revenue Service audit for prior tax years, with the primary unresolved issues relating to excise taxation of fantasy sports contests and informational reporting and withholding. The final resolution of that audit, and other audits or litigation, may differ from the amounts recorded in these consolidated financial statements and may materially affect the Company’s consolidated financial statements in the period or periods in which that determination is made.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (283,103)	$ (77,270)	$ (397,148)	$ (450,494)	$ (217,103)	$ (467,693)	$ (757,521)	$ (1,135,290)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Jason Park [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 16, 2023, our Chief Financial Officer, Jason Park, entered into a trading arrangement designed to satisfy the affirmative defense conditions of Rule 10b5-1 under the Exchange Act (the "Park 10b5-1 Plan"). The Park 10b5-1 Plan provides for the sale of up to 750,000 shares of the Company's Class A Common Stock and terminates on December 2, 2024 or earlier if all transactions under such trading arrangement are completed.
Name	Jason Park
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 16, 2023
Arrangement Duration	474 days
Aggregate Available	750,000	750,000
Ryan Moore [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 8, 2023, Accomplice Fund I, L.P., Accomplice Fund II, L.P., Accomplice Management Holdings, LLC, Atlas Venture Fund VIII, L.P., and Accomplice Management, LLC, each of which is an affiliate of a member of our board directors, Ryan Moore, entered into a trading arrangement designed to satisfy the affirmative defense conditions of Rule 10b5-1 under the Exchange Act (the "Atlas 10b5-1 Plan"). The Atlas 10b5-1 Plan provides for the sale of up to 782,202 shares of the Company's Class A Common Stock and terminates on December 11, 2024 or earlier if all transactions under such trading arrangement are completed.
Name	Ryan Moore
Title	Accomplice Fund I, L.P., Accomplice Fund II, L.P., Accomplice Management Holdings, LLC, Atlas Venture Fund VIII, L.P., and Accomplice Management, LLC, each of which is an affiliate of a member of our board directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 8, 2023
Arrangement Duration	460 days
Aggregate Available	782,202	782,202

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Practices (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation These unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting. As such, certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and related notes as of and for the fiscal year ended December 31, 2022, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as filed with the SEC on February 17, 2023 (the “2022 Annual Report”). These condensed consolidated financial statements are unaudited; however, in the opinion of management, they include all normal and recurring adjustments necessary for a fair presentation of the Company’s condensed consolidated financial statements for the periods presented. Results of operations reported for interim periods are not necessarily indicative of results for the entire year, due to seasonal fluctuations in the Company’s revenue as a result of the timing of various sports seasons, sporting events and other factors. The Company consummated the GNOG Transaction on the GNOG Closing Date. In the GNOG Transaction, the Company was determined to be the accounting acquirer and, as such, the acquisition is considered a business combination under Accounting Standards Codification (“ASC”) Topic 805, Business Combinations , and was accounted for using the acquisition method of accounting. These unaudited condensed consolidated financial statements include the accounts and operations of the Company, except that, due to the timing of the consummation of the GNOG Transaction, these unaudited condensed consolidated financial statements exclude the operations of GNOG prior to the GNOG Closing Date.
Segments	Segments The Company regularly reviews its operating segments and the approach used by the chief operating decision maker (“CODM”) to evaluate performance and allocate resources. As a result of the Company’s acquisition of DK Crown Holdings Inc. (formerly DraftKings Inc.), a Delaware corporation, and SBTech (Global) Limited (“SBTech”) and the consummation of the transactions contemplated by the business combination agreement, dated December 22, 2019 (as amended), in April 2020, the Company began to identify two distinct operating segments: a business-to-consumer (“B2C”) segment, which included its Sportsbook, iGaming and DFS product offerings, as well as media and other consumer product offerings, and a business-to-business (“B2B”) segment, which had principal activities involving the design and development of gaming software. However, beginning in the fourth quarter of 2022, as a result of the Company’s integration of the technology and expertise of SBTech, the Company began to view the B2B segment primarily as a cost center of the B2C segment and, therefore, began to operate its business and report its results as a single operating segment. The Company’s determination that it operates as a single segment is consistent with the CODM's regular review of consolidated financial information for the purposes of evaluating performance, allocating resources and planning and forecasting for future periods. Prior periods have been reclassified to conform with the new segment presentation.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”), which clarifies the guidance in ASC Topic 820, Fair Value Measurement (“Topic 820”), when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. While the Company is continuing to assess the timing of adoption and the potential impacts of ASU 2022-03, it does not expect ASU 2022-03 to have a material effect on the Company’s consolidated financial condition, results of operations or cash flows.

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of Consideration Transferred at Closing	The following is a summary of the consideration issued on the GNOG Closing Date: Share consideration (1) $ 460,128 Other consideration (2) 143,337 Total consideration $ 603,465 (1) Includes the issuance of approximately 29.3 million shares of DraftKings Inc.’s Class A common stock issued at a price of $15.73. (2) Includes (i) $170.9 million of payments made by the Company on behalf of GNOG, including repayment of the outstanding portion of GNOG’s term loan (including the associated prepayment premium) and payment of certain of GNOG’s transaction expenses incurred in connection with the GNOG Transaction and (ii) warrants that were exercisable for shares of GNOG Class A common stock prior to the GNOG Closing Date, which were assumed by DraftKings in connection with the GNOG Transaction and became eligible to be converted into approximately 2.1 million shares of DraftKings Inc.’s Class A common stock in the aggregate. These payments were partially offset by commercial credits received by the Company from Fertitta Entertainment, Inc. (“FEI”), which can be applied by the Company from time to time to offset future amounts otherwise owed by it to FEI or its affiliates under commercial arrangements among such parties, subject to certain limited exceptions.
Summary of Acquisition Purchase Price	The following table summarizes the consideration issued or paid in connection with the GNOG Transaction and the fair value of the assets acquired and liabilities assumed in connection with the consummation of the GNOG Transaction on the GNOG Closing Date: Cash and cash equivalents $ 66,709 Cash reserved for users 7,633 Receivables reserved for users 2,814 Accounts receivables 7,783 Prepaid expenses and other current assets 64 Property and equipment, net 1,433 Intangible assets, net 315,000 Operating lease right-of-use assets 1,185 Deposits and other non-current assets 47,395 Total identifiable assets acquired 450,016 Liabilities assumed: Accounts payable and accrued expenses 32,989 Liabilities to users 4,314 Operating lease liabilities 1,185 Other long-term liabilities 78,781 Total liabilities assumed 117,269 Net assets acquired (a) $ 332,747 Purchase consideration (b) $ 603,465 Goodwill (b) – (a) $ 270,718
Summary of Intangible Assets Acquired	Fair Value Weighted- Gaming licenses $ 145,000 12.2 years Customer relationships 170,000 5.9 years Total $ 315,000
Summary of Pro Forma Information	The financial information in the table below summarizes the combined results of operations of Old DraftKings and GNOG, on an actual and a pro forma basis, as applicable, as though the companies had been combined as of January 1, 2021. The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the GNOG Transaction had been consummated as of the beginning of the periods presented or of results that may occur in the future. Three months ended September 30, Nine months ended September 30, 2023 Actual 2022 Pro Forma 2023 Actual 2022 Pro Forma Revenue $ 789,957 $ 501,938 $ 2,434,536 $ 1,429,463 Net loss $ (283,103) $ (450,494) $ (757,521) $ (1,137,037)

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Finite-Lived	The Company has the following intangible assets, net as of September 30, 2023: Weighted-Average Remaining Amortization Period Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Developed technology 4.6 years $ 422,900 $ (179,985) $ 242,915 Internally developed software 2.3 years 227,882 (104,217) 123,665 Gaming licenses 10.6 years 217,626 (42,752) 174,874 Customer relationships 4.2 years 269,728 (114,718) 155,010 Trademarks, tradenames and other 3.5 years 37,674 (19,080) 18,594 Indefinite-lived intangible assets: Digital assets, net of impairment Indefinite-lived 3,900 — 3,900 Total $ 1,179,710 $ (460,752) $ 718,958 The Company had the following intangible assets, net as of December 31, 2022: Weighted-Average Remaining Amortization Period Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Developed technology 5.4 years $ 422,900 $ (140,200) $ 282,700 Internally developed software 2.4 years 168,277 (70,575) 97,702 Gaming licenses 11.0 years 206,655 (29,487) 177,168 Customer relationships 4.6 years 269,728 (75,791) 193,937 Trademarks, tradenames and other 3.8 years 36,193 (13,463) 22,730 Indefinite-lived intangible assets: Digital assets, net of impairment Indefinite-lived 2,697 — 2,697 Intangible assets, net $ 1,106,450 $ (329,516) $ 776,934
Schedule of Intangible Assets, Indefinite-Lived	The Company has the following intangible assets, net as of September 30, 2023: Weighted-Average Remaining Amortization Period Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Developed technology 4.6 years $ 422,900 $ (179,985) $ 242,915 Internally developed software 2.3 years 227,882 (104,217) 123,665 Gaming licenses 10.6 years 217,626 (42,752) 174,874 Customer relationships 4.2 years 269,728 (114,718) 155,010 Trademarks, tradenames and other 3.5 years 37,674 (19,080) 18,594 Indefinite-lived intangible assets: Digital assets, net of impairment Indefinite-lived 3,900 — 3,900 Total $ 1,179,710 $ (460,752) $ 718,958 The Company had the following intangible assets, net as of December 31, 2022: Weighted-Average Remaining Amortization Period Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Developed technology 5.4 years $ 422,900 $ (140,200) $ 282,700 Internally developed software 2.4 years 168,277 (70,575) 97,702 Gaming licenses 11.0 years 206,655 (29,487) 177,168 Customer relationships 4.6 years 269,728 (75,791) 193,937 Trademarks, tradenames and other 3.8 years 36,193 (13,463) 22,730 Indefinite-lived intangible assets: Digital assets, net of impairment Indefinite-lived 2,697 — 2,697 Intangible assets, net $ 1,106,450 $ (329,516) $ 776,934

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value	The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value as of September 30, 2023 and December 31, 2022 based on the three-tier fair value hierarchy: September 30, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 212,218 (1) $ — $ — $ 212,218 Other current assets: Digital assets held for users — 65,930 (6) — 65,930 Other non-current assets: Derivative instruments — — 19,999 (4) 19,999 Equity securities — 13,533 (3) — 13,533 Total $ 212,218 $ 79,463 $ 19,999 $ 311,680 Liabilities Digital assets held for users $ — $ 65,930 (6) $ — $ 65,930 Warrant liabilities — 53,695 (5) — 53,695 Total $ — $ 119,625 $ — $ 119,625 December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 304,216 (1) $ — $ — $ 304,216 Other current assets: Digital assets held for users — 38,444 (6) — 38,444 Other non-current assets: Derivative instruments — — 26,248 (4) 26,248 Equity securities 18,250 (2) 13,533 (3) — 31,783 Total $ 322,466 $ 51,977 $ 26,248 $ 400,691 Liabilities Digital assets held for users — $ 38,444 (6) — $ 38,444 Warrant liabilities $ — $ 10,680 (5) $ — 10,680 Total $ — $ 49,124 $ — $ 49,124 (1) Represents the Company’s money market funds, which are classified as Level 1 because the Company measures the fair value of these assets using quoted market prices. (2) Represents the Company’s marketable equity securities, which are classified as Level 1 because the Company measures the fair value of these assets using quoted market prices. (3) Represents the Company’s non-marketable equity securities, which are classified as Level 2 because the Company measures the fair value of these assets using observable inputs for similar investments of the same issuer. The Company has elected the remeasurement alternative for these assets. (4) Represents the Company’s derivative instruments held in other public and privately held entities. The Company measures the fair value of these derivative instruments using option pricing models and, accordingly, classifies these assets as Level 3. During the nine months ended September 30, 2023, we sold Level 3 derivative instruments with a fair value at December 31, 2022 of $6.2 million for proceeds of $5.3 million and there were no new Level 3 derivative instruments purchased by or issued to the Company. The table below includes a range and an average weighted by relative fair value of the significant unobservable inputs used to measure the fair value of the Level 3 derivative instruments. A change in these significant unobservable inputs might result in a significantly higher or lower fair value measurement at the reporting date. September 30, 2023 December 31, 2022 Significant Unobservable Input Range (Weighted Average) Range (Weighted Average) Underlying stock price $12.79 - $19.80 ($19.41) $7.30 - $19.80 ($16.53) Volatility 75.0% - 80.0% (79.7%) 56.0% - 80.0% (74.1%) Risk-free rate 1.3% - 4.2% (4.0%) 1.3% - 4.3% (4.1%) (5) The Company measures the fair value of its warrant liabilities using a binomial lattice model or a Black-Scholes model, where appropriate, with the significant assumptions being observable inputs and, accordingly, classifies these liabilities as Level 2. (6) Represents the asset and liability balance for the digital assets held by the Company for its users, which are classified as Level 2 because the Company measures the fair value of these digital assets using observable inputs for similar transactions.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Deferred Revenue Balances	The deferred revenue balances were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Deferred revenue, beginning of the period $ 105,478 $ 84,674 $ 133,851 $ 91,554 Deferred revenue, end of the period $ 239,225 $ 165,185 $ 239,225 $ 165,185 Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period $ 85,122 $ 34,621 $ 133,054 $ 70,042
Summary of Disaggregation of Revenue	Disaggregation of revenue for the three and nine months ended September 30, 2023 and 2022 is as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Online gaming $ 768,265 $ 468,455 $ 2,353,293 $ 1,289,257 Gaming software 6,304 9,093 23,495 34,057 Other 15,388 24,390 57,748 62,014 Total Revenue $ 789,957 $ 501,938 $ 2,434,536 $ 1,385,328

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The following table shows restricted stock unit (“RSU”) and stock option activity for the nine months ended September 30, 2023: Time-Based PSP LTIP Total Weighted Average Exercise Price of Options Weighted Average FMV Options RSUs Options RSUs Options RSUs Outstanding at December 31, 2022 12,259 15,273 2,273 13,119 11,152 13,864 67,940 $ 6.17 $ 29.64 Granted 600 11,128 — 2,240 — 209 14,177 25.81 18.77 Exercised options / vested RSUs (1,152) (5,460) (546) (1,715) (646) (8,342) (17,861) 3.85 42.07 Change in awards due to performance-based multiplier — — — 1,141 — — 1,141 — 60.25 Forfeited (285) (1,508) — (893) — (387) (3,073) 6.88 21.98 Outstanding at September 30, 2023 11,422 19,433 1,727 13,892 10,506 5,344 62,324 $ 6.68 $ 22.35
Summary of Stock Compensation Expense	The following tables shows stock compensation expense for the three and nine months ended September 30, 2023 and 2022: Three months ended September 30, 2023 Three months ended September 30, 2022 Options RSUs Total Options RSUs Total Time-based (1) $ 1,849 $ 39,936 $ 41,785 $ 3,577 $ 25,924 $ 29,501 PSP (2) — 21,876 21,876 — 11,368 11,368 LTIP (2) — 14,692 14,692 — 85,169 85,169 Total $ 1,849 $ 76,504 $ 78,353 $ 3,577 $ 122,461 $ 126,038 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Options RSUs Total Options RSUs Total Time-based (1) $ 8,239 $ 123,495 $ 131,734 $ 11,271 $ 74,693 $ 85,964 PSP (2) — 81,763 81,763 — 68,499 68,499 LTIP (2) — 71,449 71,449 — 294,173 294,173 Total $ 8,239 $ 276,707 $ 284,946 $ 11,271 $ 437,365 $ 448,636 (1) Time-based awards vest and are expensed over a defined service period. (2) PSP and LTIP awards vest based on defined performance criteria and are expensed based on the probability of achieving such criteria. During the three months ended March 31, 2022, the Company recorded a cumulative catch-up adjustment of $20.7 million in additional stock-based compensation expense related to its updated expectation of achieving higher revenue targets than originally estimated for certain PSP awards which have a range of payouts.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Company's (Benefit) provision for income taxes	The Company’s provision (benefit) for income taxes for the three and nine months ended September 30, 2023 and 2022 is as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Income tax provision (benefit) $ 1,291 $ 3,177 $ 3,310 $ (77,580)

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Loss Per Share and Weighted-Average Shares	The computation of loss per share and weighted-average shares of the Company's Class A common stock outstanding for the periods presented are as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Net loss attributable to common stockholders $ (283,103) $ (450,494) $ (757,521) $ (1,135,290) Basic and diluted weighted-average common shares outstanding 464,773 448,331 460,762 432,278 Loss per share attributable to common stockholders: Basic and diluted $ (0.61) $ (1.00) $ (1.64) $ (2.63)
Schedule of Computation of Diluted Shares Outstanding	For the periods presented, the following securities were not required to be included in the computation of diluted shares outstanding: September 30, 2023 September 30, 2022 Class A common stock resulting from exercise of all warrants $ 3,630 $ 3,761 Stock options and RSUs 62,324 52,717 Convertible notes 13,337 13,337 Total $ 79,291 $ 69,815

Leases, Commitments and Conti_2

Leases, Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Components of Lease Cost and Other Information	The components of lease cost are as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Operating lease cost $ 5,779 $ 5,562 $ 14,298 $ 15,471 Short term lease cost 361 1,550 2,221 4,628 Variable lease cost 1,382 984 4,215 2,863 Sublease income (236) (255) (704) (715) Total lease cost $ 7,286 $ 7,841 $ 20,030 $ 22,247 Supplemental cash flow and other information for the nine months ended September 30, 2023 and 2022 related to operating leases was as follows: Nine months ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 9,830 $ 12,511 Right-of-use assets obtained in exchange for new operating lease liabilities $ 22,221 $ 23,056
Schedule of Maturity of Lease Liabilities	Maturities of lease liabilities are as follows: Years Ending December 31, From October 1, 2023 to December 31, 2023 $ 3,711 2024 15,768 2025 14,616 2026 14,528 2027 11,455 Thereafter 50,372 Total undiscounted future cash flows 110,450 Less: Imputed interest (21,392) Present value of undiscounted future cash flows $ 89,058
Summary of Other Contractual Obligations and Contingencies	The Company is party to several non-cancelable contracts with vendors where the Company is obligated to make future minimum payments under the terms of these contracts as follows: Years Ending December 31, From October 1, 2023 to December 31, 2023 $ 126,691 2024 439,149 2025 346,934 2026 195,764 2027 112,088 Thereafter 265,029 Total $ 1,485,655

Description of Business (Detail

Description of Business (Details)	Sep. 30, 2023 jurisdiction	May 05, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of jurisdictions with legalized sports betting in which company operates	22
Conversion basis		1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Practices (Details) - segment	1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 30, 2020	Dec. 31, 2022	Sep. 30, 2023
Accounting Policies [Abstract]
Number of operating segments	2	1	1

Business Combination - Narrativ

Business Combination - Narrative (Details) - GNOG $ in Millions	May 05, 2022 USD ($) shares
Business Acquisition [Line Items]
Issuance of New DraftKings' Class A Common Stock for each Common Share of Golden Nugget Online Gaming (in shares) | shares	0.365
Shares issued for acquisition (in shares) | shares	29,300,000
Equity interest acquired	100%
Long term receivable	$ 30.1
B2C reporting unit
Business Acquisition [Line Items]
Expected tax deductible amount	160.7
Danville GN Casino Loan
Business Acquisition [Line Items]
Long term receivable	$ 30

Business Combination - Summary

Business Combination - Summary of Consideration Transferred at Closing (Details) - GNOG $ / shares in Units, $ in Thousands, shares in Millions	May 05, 2022 USD ($) $ / shares shares
Business Acquisition [Line Items]
Share consideration	$ 460,128
Other consideration	143,337
Total consideration	$ 603,465
Shares issued for acquisition (in shares) | shares	29.3
Weighted average fair value (in dollars per share) | $ / shares	$ 15.73
Payments made by the Company	$ 170,900
Issuance of New DraftKings' class A common stock for each common share of Golden Nugget Online Gaming (in shares) | shares	2.1

Business Combinations - Purchas

Business Combinations - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	May 05, 2022
Business Acquisition [Line Items]
Goodwill	$ 886,373	$ 886,373
GNOG
Business Acquisition [Line Items]
Cash and cash equivalents			$ 66,709
Cash reserved for users			7,633
Receivables reserved for users			2,814
Accounts receivables			7,783
Prepaid expenses and other current assets			64
Property and equipment, net			1,433
Intangible assets, net			315,000
Operating lease right-of-use assets			1,185
Deposits and other non-current assets			47,395
Total identifiable assets acquired			450,016
Accounts payable and accrued expenses			32,989
Liabilities to users			4,314
Operating lease liabilities			1,185
Other long-term liabilities			78,781
Total liabilities assumed			117,269
Net assets acquired			332,747
Purchase consideration			603,465
Goodwill			$ 270,718

Business Combination - Summar_2

Business Combination - Summary of Intangible Assets Acquired (Details) - GNOG $ in Thousands	May 05, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 315,000
Gaming licenses
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 145,000
Weighted- Average Useful Life	12 years 2 months 12 days
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 170,000
Weighted- Average Useful Life	5 years 10 months 24 days

Business Combination - Summar_3

Business Combination - Summary of Pro Forma Information (Details) - GNOG - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenue, Pro Forma	$ 789,957	$ 501,938	$ 2,434,536	$ 1,429,463
Net loss, Pro Forma	$ (283,103)	$ (450,494)	$ (757,521)	$ (1,137,037)

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (460,752)	$ (329,516)
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, gross	1,179,710	1,106,450
Intangible assets, net	718,958	776,934
Digital assets, net of impairment
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 3,900	$ 2,697
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	4 years 7 months 6 days	5 years 4 months 24 days
Gross Carrying Amount	$ 422,900	$ 422,900
Accumulated Amortization	(179,985)	(140,200)
Net	$ 242,915	$ 282,700
Internally developed software
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	2 years 3 months 18 days	2 years 4 months 24 days
Gross Carrying Amount	$ 227,882	$ 168,277
Accumulated Amortization	(104,217)	(70,575)
Net	$ 123,665	$ 97,702
Gaming licenses
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	10 years 7 months 6 days	11 years
Gross Carrying Amount	$ 217,626	$ 206,655
Accumulated Amortization	(42,752)	(29,487)
Net	$ 174,874	$ 177,168
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	4 years 2 months 12 days	4 years 7 months 6 days
Gross Carrying Amount	$ 269,728	$ 269,728
Accumulated Amortization	(114,718)	(75,791)
Net	$ 155,010	$ 193,937
Trademarks, tradenames and other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	3 years 6 months	3 years 9 months 18 days
Gross Carrying Amount	$ 37,674	$ 36,193
Accumulated Amortization	(19,080)	(13,463)
Net	$ 18,594	$ 22,730

Intangible Assets - Additional

Intangible Assets - Additional information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Amortization expense	$ 45.1	$ 40.6	$ 131.2	$ 106.8

Current and Long-term Liabili_2

Current and Long-term Liabilities - Revolving Line of Credit (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 20, 2022	Oct. 31, 2016
Revolving Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 125
Principal outstanding	0
Net facility available	$ 122.7
Revolving Line of Credit | Prime Rate
Line of Credit Facility [Line Items]
Variable interest rate spread	1%
Variable annual interest rate floor	5%
Quarterly in arrears fee per annum	0.25%
Revolving Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 125	$ 60

Current and Long-term Liabili_3

Current and Long-term Liabilities - Surety Bonds (Details) - Surety Bond $ in Millions	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 175
Combined annual premium cost	0.40%

Current and Long-term Liabili_4

Current and Long-term Liabilities - Convertible Notes and Indirect Taxes (Details) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2021 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Estimated liability for indirect taxes		$ 68.3		$ 68.3		$ 60.3
Convertible Noteholders
Line of Credit Facility [Line Items]
Aggregate principle amount	$ 1,265	1,253.1		1,253.1
Lender fees	17
Debt financing costs	$ 1.7
Conversion ratio	0.010543
Conversion price (in dollars per share) | $ / shares	$ 94.85
Strike price (in dollars per share) | $ / shares	94.85
Cap price (in dollars per share) | $ / shares	$ 135.50
Net cost incurred	$ 124
Debt issuance costs		11.9		11.9
Amortization of debt issuance costs		0.7	$ 0.7	2	$ 2
Fair value of convertible notes		$ 963.8		$ 963.8		$ 786.5

Current and Long-term Liabili_5

Current and Long-term Liabilities - Warrant Liabilities (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	May 05, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	May 14, 2019
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Loss (gain) on remeasurement of warrant liabilities		$ 7,751	$ 6,797	$ 44,827	$ (20,199)
Fair Value, Recurring
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Warrant liabilities		53,695		53,695		$ 10,680
Level 2 | Fair Value, Recurring
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Warrant liabilities		$ 53,695		$ 53,695		$ 10,680
GNOG
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Issuance of New DraftKings' Class A Common Stock for each Common Share of Golden Nugget Online Gaming (in shares)	0.365
Issuance of New DraftKings' class A common stock for each common share of Golden Nugget Online Gaming (in shares)	2,100,000
Public Warrants
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Number of warrants issued (in shares)							13,300,000
Number of shares issuable per warrant (in shares)							1
Price per warrant (in dollars per share)							$ 11.50
Number of warrants outstanding (in shares)		0		0
Private Placement Warrants
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Number of warrants issued (in shares)							6,300,000
Number of shares issuable per warrant (in shares)							1
Price per warrant (in dollars per share)							$ 11.50
Number of warrants outstanding (in shares)		1,500,000		1,500,000
Shares issued for exercise of warrants (in shares)		100,000		100,000
Private Placement Warrants | GNOG
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Number of warrants issued (in shares)	5,900,000	5,900,000		5,900,000
Number of shares issuable per warrant (in shares)	1
Price per warrant (in dollars per share)	$ 11.50

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Liabilities
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Deposits and other non-current assets		Deposits and other non-current assets
Fair Value, Recurring
Assets
Digital assets held for users	$ 65,930	$ 38,444
Derivative instruments	19,999	26,248
Equity securities	13,533	31,783
Assets	311,680	400,691
Liabilities
Digital assets held for users	65,930	38,444
Warrant liabilities	53,695	10,680
Liabilities	119,625	49,124
Fair Value, Recurring | Level 1
Assets
Digital assets held for users	0	0
Derivative instruments	0	0
Equity securities	0	18,250
Assets	212,218	322,466
Liabilities
Digital assets held for users	0	0
Warrant liabilities	0	0
Liabilities	0	0
Fair Value, Recurring | Level 2
Assets
Digital assets held for users	65,930	38,444
Derivative instruments	0	0
Equity securities	13,533	13,533
Assets	79,463	51,977
Liabilities
Digital assets held for users	65,930	38,444
Warrant liabilities	53,695	10,680
Liabilities	119,625	49,124
Fair Value, Recurring | Level 3
Assets
Digital assets held for users	0	0
Derivative instruments	19,999	26,248
Equity securities	0	0
Assets	19,999	26,248
Liabilities
Digital assets held for users	0	0
Warrant liabilities	0	0
Liabilities	0	0
Derivative instruments at fair value		6,200
Proceeds from sale of derivative instruments	5,300
Money market funds | Fair Value, Recurring
Assets
Cash equivalents	212,218	304,216
Money market funds | Fair Value, Recurring | Level 1
Assets
Cash equivalents	212,218	304,216
Money market funds | Fair Value, Recurring | Level 2
Assets
Cash equivalents	0	0
Money market funds | Fair Value, Recurring | Level 3
Assets
Cash equivalents	$ 0	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Assumptions (Details) - Level 3	Sep. 30, 2023 $ / shares	Dec. 31, 2022 $ / shares
Underlying stock price | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	12.79	7.30
Underlying stock price | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	19.80	19.80
Underlying stock price | Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	19.41	16.53
Volatility | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.750	0.560
Volatility | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.800	0.800
Volatility | Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.797	0.741
Risk-free rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.013	0.013
Risk-free rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.042	0.043
Risk-free rate | Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.040	0.041

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Unrealized gains	$ 0	$ 0.7	$ 0.1	$ 32.5

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue, beginning of the period	$ 105,478	$ 84,674	$ 133,851	$ 91,554
Deferred revenue, end of the period	239,225	165,185	239,225	165,185
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$ 85,122	$ 34,621	$ 133,054	$ 70,042

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 789,957	$ 501,938	$ 2,434,536	$ 1,385,328
Accounts receivable	27,778	41,000	27,778	41,000	$ 51,097	$ 45,900
Online gaming
Disaggregation of Revenue [Line Items]
Revenue	768,265	468,455	2,353,293	1,289,257
Gaming software
Disaggregation of Revenue [Line Items]
Revenue	6,304	9,093	23,495	34,057
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 15,388	$ 24,390	$ 57,748	$ 62,014

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) segment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense | $	$ 602.4
Total unrecognized stock-based compensation expense expected to be recognized over a weighted-average period	2 years 8 months 12 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expiration period	7 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expiration period	10 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of types of stock-based compensation | segment	3
Stock options | Stock Option And Restricted Stock Incentive Plan2012 And Equity Incentive2017 And Equity Incentive2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock option activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Options Activity
Number of shares outstanding, beginning of period (in shares)	67,940
Number of shares granted (in shares)	14,177
Number of shares exercised (in shares)	(17,861)
Number of shares changed in awards due to performance-based multiplier (in shares)	1,141
Number of shares forfeited (in shares)	(3,073)
Number of shares outstanding, end of period (in shares)	62,324
Stock options
Weighted-Average Exercise Price
Weighted average exercise price outstanding, beginning of period (in dollars per share) | $ / shares	$ 6.17
Weighted average exercise price granted (in dollars per share) | $ / shares	25.81
Weighted average exercise price exercised (in dollars per share) | $ / shares	3.85
Weighted average exercise price change in awards due to performance-based multiplier (in dollars per share) | $ / shares	0
Weighted average exercise price forfeited (in dollars per share) | $ / shares	6.88
Weighted average exercise price outstanding, end of period (in dollars per share) | $ / shares	$ 6.68
Time Based Options
Options Activity
Number of shares outstanding, beginning of period (in shares)	12,259
Number of shares granted (in shares)	600
Number of shares exercised (in shares)	(1,152)
Number of shares changed in awards due to performance-based multiplier (in shares)	0
Number of shares forfeited (in shares)	(285)
Number of shares outstanding, end of period (in shares)	11,422
Time Based RSUs
Options Activity
Number of shares outstanding, beginning of period (in shares)	15,273
Number of shares granted (in shares)	11,128
Number of shares exercised (in shares)	(5,460)
Number of shares changed in awards due to performance-based multiplier (in shares)	0
Number of shares forfeited (in shares)	(1,508)
Number of shares outstanding, end of period (in shares)	19,433
PSP Options
Options Activity
Number of shares outstanding, beginning of period (in shares)	2,273
Number of shares granted (in shares)	0
Number of shares exercised (in shares)	(546)
Number of shares changed in awards due to performance-based multiplier (in shares)	0
Number of shares forfeited (in shares)	0
Number of shares outstanding, end of period (in shares)	1,727
PSP RSUs
Options Activity
Number of shares outstanding, beginning of period (in shares)	13,119
Number of shares granted (in shares)	2,240
Number of shares exercised (in shares)	(1,715)
Number of shares changed in awards due to performance-based multiplier (in shares)	1,141
Number of shares forfeited (in shares)	(893)
Number of shares outstanding, end of period (in shares)	13,892
LTIP Options
Options Activity
Number of shares outstanding, beginning of period (in shares)	11,152
Number of shares granted (in shares)	0
Number of shares exercised (in shares)	(646)
Number of shares changed in awards due to performance-based multiplier (in shares)	0
Number of shares forfeited (in shares)	0
Number of shares outstanding, end of period (in shares)	10,506
LTIP RSUs
Options Activity
Number of shares outstanding, beginning of period (in shares)	13,864
Number of shares granted (in shares)	209
Number of shares exercised (in shares)	(8,342)
Number of shares changed in awards due to performance-based multiplier (in shares)	0
Number of shares forfeited (in shares)	(387)
Number of shares outstanding, end of period (in shares)	5,344
RSUs
Weighted-Average Exercise Price
Weighted average exercise price outstanding, beginning of period (in dollars per share) | $ / shares	$ 29.64
Weighted average exercise price granted (in dollars per share) | $ / shares	18.77
Weighted average exercise price exercised (in dollars per share) | $ / shares	42.07
Weighted average exercise price change in awards due to performance-based multiplier (in dollars per share) | $ / shares	60.25
Weighted average exercise price forfeited (in dollars per share) | $ / shares	21.98
Weighted average exercise price outstanding, end of period (in dollars per share) | $ / shares	$ 22.35

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense, Options	$ 1,849	$ 3,577		$ 8,239	$ 11,271
Stock compensation expense, RSU	76,504	122,461		276,707	437,365
Stock compensation expense	78,353	126,038		284,946	448,636
Time Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense, Options	1,849	3,577		8,239	11,271
Stock compensation expense, RSU	39,936	25,924		123,495	74,693
Stock compensation expense	41,785	29,501		131,734	85,964
PSP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense, Options	0	0		0	0
Stock compensation expense, RSU	21,876	11,368		81,763	68,499
Stock compensation expense	21,876	11,368		81,763	68,499
Cumulative catch up expense			$ 20,700
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense, Options	0	0		0	0
Stock compensation expense, RSU	14,692	85,169		71,449	294,173
Stock compensation expense	$ 14,692	$ 85,169		$ 71,449	$ 294,173

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the federal income tax rate (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of the federal income tax rate to the Company's effective tax rate
Income tax provision (benefit)	$ 1,291	$ 3,177		$ 3,310	$ (77,580)
Effective tax rate	(0.50%)	(0.70%)		(0.40%)	6.40%
Discrete income tax benefit			$ 76,800

Loss Per Share (Details)

Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (283,103)	$ (77,270)	$ (397,148)	$ (450,494)	$ (217,103)	$ (467,693)	$ (757,521)	$ (1,135,290)
Weighted-average common shares outstanding, Basic (in shares)	464,773			448,331			460,762	432,278
Weighted-average common shares outstanding, Diluted (in shares)	464,773			448,331			460,762	432,278
Loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.61)			$ (1)			$ (1.64)	$ (2.63)
Diluted (in dollars per share)	$ (0.61)			$ (1)			$ (1.64)	$ (2.63)

Loss Per Share - Diluted shares

Loss Per Share - Diluted shares outstanding (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	79,291	69,815
Class A common stock resulting from exercise of all warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,630	3,761
Stock options and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	62,324	52,717
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	13,337	13,337

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 30, 2023	Dec. 31, 2022	Mar. 30, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Accounts receivable	$ 27,778	$ 41,000	$ 27,778	$ 41,000		$ 51,097		$ 45,900
Revenue	789,957	501,938	2,434,536	1,385,328
Related party aircraft lease amount	65,930		65,930			38,444
Chief Executive Officer
Related Party Transaction [Line Items]
Aircraft lease cost incurred	100		500
Financial Advisor
Related Party Transaction [Line Items]
Total administrative services expenses	0	8,500	0	8,500
Equity Method Investee | Related Party
Related Party Transaction [Line Items]
Accounts receivable	0		0			200
Equity Method Investee | DBDK Venture Fund
Related Party Transaction [Line Items]
Investment commitment	17,500		17,500
Investment amount			6,700
Shareholders and Directors | Related Party
Related Party Transaction [Line Items]
Revenue	200		1,400
SB Tech | Related Party
Related Party Transaction [Line Items]
Accounts receivable	100		100			$ 200
Aircraft Lease | Chief Executive Officer
Related Party Transaction [Line Items]
Total administrative services expenses	$ 0	$ 0	$ 0	$ 700
Term of aircraft lease					1 year		1 year
Related party aircraft lease amount					$ 600		$ 600

Leases, Commitments and Conti_3

Leases, Commitments and Contingencies - Narrative (Details)	Sep. 09, 2022 claim	Feb. 07, 2022 patent	Dec. 01, 2021 patent	Nov. 22, 2021 patent	Oct. 21, 2021 claim	Oct. 12, 2021 patent	Aug. 19, 2021 patent	Jul. 28, 2021 patent	Jul. 02, 2021 claim	Jun. 14, 2019 patent	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Weighted-average remaining lease term, operating leases											7 years 6 months
Weighted-average discount rate, operating leases											6.50%
Interactive Games LLC | Daily Fantasy Sports
Property, Plant and Equipment [Line Items]
Number of patents										2
Interactive Games LLC | Sportsbook product
Property, Plant and Equipment [Line Items]
Number of patents										2
Winview Inc. | Daily Fantasy Sports
Property, Plant and Equipment [Line Items]
Number of patents								1
Winview Inc. | Sportsbook product
Property, Plant and Equipment [Line Items]
Number of patents								2
Securities Matters
Property, Plant and Equipment [Line Items]
Number of cases | claim									2
Shareholder Derivative Litigation
Property, Plant and Equipment [Line Items]
Number of cases | claim					5
Shareholder Derivative Litigation, US District Court of Nevada
Property, Plant and Equipment [Line Items]
Number of cases | claim					2
GNOG
Property, Plant and Equipment [Line Items]
Number of cases | claim	2
Arrow Gaming Matter
Property, Plant and Equipment [Line Items]
Number of patents						1	4
Beteiro, LLC Matter
Property, Plant and Equipment [Line Items]
Number of patents				4
Diogenes Ltd. & Colossus (IOM) Ltd. Matter
Property, Plant and Equipment [Line Items]
Number of patents		1	7
Maximum
Property, Plant and Equipment [Line Items]
Lease agreement term											10 years

Leases, Commitments and Conti_4

Leases, Commitments and Contingencies - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 5,779	$ 5,562	$ 14,298	$ 15,471
Short term lease cost	361	1,550	2,221	4,628
Variable lease cost	1,382	984	4,215	2,863
Sublease income	(236)	(255)	(704)	(715)
Total lease cost	$ 7,286	$ 7,841	$ 20,030	$ 22,247

Leases, Commitments and Conti_5

Leases, Commitments and Contingencies - Other Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 9,830	$ 12,511
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 22,221	$ 23,056

Leases, Commitments and Conti_6

Leases, Commitments and Contingencies - Maturity of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
From October 1, 2023 to December 31, 2023	$ 3,711
2024	15,768
2025	14,616
2026	14,528
2027	11,455
Thereafter	50,372
Total undiscounted future cash flows	110,450
Less: Imputed interest	(21,392)
Present value of undiscounted future cash flows	$ 89,058

Leases, Commitments and Conti_7

Leases, Commitments and Contingencies - Other Contractual Obligations and Contingencies (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
From October 1, 2023 to December 31, 2023	$ 126,691
2024	439,149
2025	346,934
2026	195,764
2027	112,088
Thereafter	265,029
Total	$ 1,485,655