Record $22M jackpot throws a spotlight on DraftKings’ iGaming business

A twenty-cent wager on DraftKings’ (DKNG) Huff N’ Even More Puff casino game won a very lucky Michigan player more than $22 million, making it the largest online casino jackpot in U.S. history.

Not considering the house advantage or game-specific payout structures, the wager carried odds of one in 112 million, a bit better than the odds of winning Mega Millions with one lottery ticket.

Said otherwise, the odds are pretty slim that a single $0.20 bet will result in a life-changing win for anyone else.

But for DraftKings (DKNG) the viral post on X will surely arouse interest—and traffic to its online casino.

The Huff N’ More Puff game on DraftKings (DKNG) is a “playful” spin on the Three Little Pigs tale. Players build homes, dodge the Big Bad Wolf, and spin to realize rewards. The game pays a maximum of 5,500 times the bet, making the $22M jackpot on a $0.20 bet the likely result of a progressive jackpot rather than a single bet.

To branch out into the ~$100 billion per year digital lottery market, DraftKings (DKNG) –which was initially developed for daily fantasy sports games and sports betting — bought Jackpocket in May for ~$750M with the expectation to realize $260M to $340M in annual incremental revenue, as well as leverage Jackpocket’s customer base towards DraftKing’s (DKNG) sports betting.

“[iGaming] is where the biggest opportunity and the most growth lies. I think we are leading the pack as it comes to the cross-sell and conversion of sportsbook customers into iGaming players and feel like for that reason, we have really done well to own the table game space in a big way,” DraftKings CEO Jason Robins said on the company’s earnings call following the Jackpocket acquisition.

By the third quarter, DraftKings (DKNG) saw its iGaming segment realize 25% revenue growth, the fastest growth for the company since the first quarter of 2024.

So with a record-setting $22 million jackpot now circulating across social media, DraftKings (DKNG) may have found the perfect showcase for its expanding iGaming ambitions—one that’s likely to draw fresh attention, fresh curiosity, and fresh players to its online casino portfolio.

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