Shares of sports-betting provider DraftKings dropped more than 8% Monday after the MLB canceled two upcoming games due to the Covid-19 pandemic.
DraftKings told CNBC that MLB was the most popular sport in its sports book this weekend. And, over the weekend, DraftKings had the second best day since the March shutdowns began, showing just how important baseball is for the company. DraftKings lets people bet on the PGA Tour, MLS, the WNBA, NASCAR, among other sports.
Mobile betting is currently only legal in 7 states, however, and last year at this time mobile betting was only legal in New Jersey. DraftKings expected pent-up sports betting demand as teams returned to play. In May, CEO Jason Robins said the company had seen interest as people started to watch eports while leagues, including the MLB and NBA, were on pause due to the coronavirus outbreak.
"People are hungry for sports to come back," Robins said in May. But, now that sports are beginning to return in limited capacity, there's concern that they'll be placed on pause again.
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