Sports Betting Service DraftKings’ Stock Drops After Two MLB Games Postponed

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Major League Baseball’s decision to postpone  multiple games  because of a coronavirus outbreak was not good news for sports betting services. Shares of DraftKings, one of the industry’s top brands, were down roughly 8% Monday shortly after noon EDT, according to CNBC, when the baseball games were pulled from the schedule.

The Miami Marlins’ home opener against the Baltimore Orioles was postponed in the wake of several Miami players testing positive for COVID-19. Monday night’s game between the New York Yankees and Philadelphia Phillies was also postponed because the Marlins concluded a three-game series Sunday at Philadelphia’s Citizens Bank Park.

DraftKings told CNBC that MLB was the most popular sport with its users this past weekend. Golf, NASCAR, MLS and the WNBA were among the other options for sports bettors.

The baseball season started Thursday with two games, then the rest of the league kicked off its schedule Friday. Opening Day was pushed back four months because of the coronavirus pandemic.

As MLB waits for word on additional coronavirus testing of its players, there is speculation that the 60-game season could be in jeopardy.

Mobile sports betting has been legalized in six states over the last year. Only New Jersey residents could bet on baseball, or any sports for that matter, with the DraftKings app this time in 2019.

DraftKings went public in April when all of the professional team sports leagues were on pause.  Shares of DraftKings are up 221.31% since it became a publicly-traded company.

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