The giants of mobile sports betting entered California, the final conquest that would clinch an improbable national takeover, with a clear strategy: divide and outspend.
DraftKings and FanDuel, the leaders of an exploding industry, had spent their decade of existence forgoing profits in favor of relentless expansion, pouring hundreds of millions of dollars into marketing, lobbying, campaign contributions and massive political ad buys in states where sports betting was on the ballot. In the process, they helped transform sports betting from an underground vice to a nearly inescapable part of mainstream American sports.
A grand salvo in California, which a DraftKings executive has called one of the industry’s “holy grails,” had long been expected.
