DraftKings Stock Rises as Powerball Jackpot Fuels Lottery Ticket Sales

DraftKings (DKNG) shares are climbing as the $1.7 billion Powerball jackpot—the third-largest in U.S. history—drives a surge in ticket purchases through its Jackpocket platform. Sales on the lottery courier service jumped 130% between September 3 and 4, with 15 million Powerball tickets ordered. The jackpot’s growth to $1.7 billion after no winners in the latest draw has intensified demand, lifting DKNG stock by 4% this month.

The NFL season’s kickoff has provided additional momentum, but the lottery frenzy underscores DraftKings’ expanding reach in digital gambling. Jackpocket, available in 16 states, capitalizes on the fervor by facilitating ticket purchases via the DraftKings app, charging a fee for each transaction. With odds of winning the Powerball at 1 in 292 million, the HYPE shows no signs of waning.