DraftKings and Kindbridge Research Institute Advance Veterans-Focused Responsible Gaming Research

Rhea-AI Summary

DraftKings has announced a multi-year financial commitment to the Kindbridge Research Institute (KRI) for the launch of the 50x4Vets program, aimed at researching problem gaming among veterans. This initiative will support treatment at veterans-focused centers and is the first of its kind in the U.S. DraftKings' funding will enable KRI to enhance research capabilities, hire qualified staff, and support multiple research centers, ultimately improving veterans' treatment options. The program reflects DraftKings' broader commitment to responsible gaming and social responsibility.

Positive

• DraftKings' financial commitment to KRI enhances research on veterans and responsible gaming.
• The 50x4Vets program is the first comprehensive research initiative targeting problem gaming among veterans in the U.S.
• DraftKings will support multiple research centers, improving treatment diversity and effectiveness for veterans.

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• None.

50x4Vets Program Partners Will Spearhead First-of-its-Kind Solutions-based Research on Veterans

BOSTON, Dec. 01, 2021 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) today announced a multi-year financial commitment to Kindbridge Research Institute (KRI) for a new research program to study the nexus of veterans and responsible gaming, with the ultimate goal of advancing evidence-based research in this area and improving the lives of impacted veterans. DraftKings is the only U.S.-based operator contributing to this project and, as a result of DraftKings’ contribution, KRI will be able to launch the 50x4Vets program, which relies on a three-pronged approach and will include funding research at veterans-focused gaming treatment centers across the country. This initiative is designed to provide a solution to the lack of information about problem gaming among veterans.

“Today’s announcement underscores our commitment to furthering evidence-based research in responsible gaming and DraftKings’ long-standing support for our veterans,” said Christine Thurmond, Director of Responsible Gaming, DraftKings. “The DraftKings S.E.R.V.E.S. global corporate social responsibility program encompasses both our responsible gaming activities and our Tech for Heroes program, which provides free high-tech skills training to veterans and military spouses, as well as 1:1 mentoring opportunities with our employees. Supporting this vitally important veterans research is something DraftKings takes pride in.”

“Teaming up with DraftKings to launch the 50x4Vets program, which seeks to improve treatment for veterans, stands to advance the field in multiple ways, including closing the gap in comprehensive research and literature in this area,” said Nathan D.L. Smith, PhD, Founding Executive Director, KRI. “We are grateful for DraftKings’ financial contribution, which has made a key difference in our ability to start the multi-year research project while collaborating with inpatient treatment centers serving veterans – lending an innovative approach to incorporating in the research actual, lived experience of individuals who require intervention. Our hope is that this work will make a difference in the experience of veterans while building a knowledge base that will make an impact on researchers and advocates across the country.”

The 50x4Vets program seeks to provide a permanent, long-term solution to the lack of research on problem gaming among veterans, with a three-pronged approach:

1. Leverage Existing Treatment Infrastructure: In the U.S., there are only a few veterans-focused clinics that specialize in gambling disorder. KRI has planned partnerships with researchers and clinicians to create multiple research centers that leverage this existing infrastructure. The research centers will each receive funding for three years to boost research capabilities while ensuring the highest quality staff and care for patients. Treatment will also be made available to veterans who are unable to seek in-person treatment through KRI’s partnership with Kindbridge Inc., a telehealth company with the largest network of therapists trained to address gambling and gaming disorders in the US.
2. Provide Multi-Year Commitments: To hire staff and build infrastructure that will produce high quality research in the long term, a multi-year commitment is needed. Each center will be guaranteed funding for a minimum of three years to ensure qualified staff can be recruited, trained, and retained.
3. Support Multiple Research Centers: The landscape of treatment for gambling disorder in veterans is diverse. By funding multiple research centers, the researchers can create and test treatment modalities in different settings and share knowledge about what works between the centers. This collaboration will exponentially increase the speed, quality, and utility of the research being done.
   

A leader in digital sports entertainment and gaming, DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine, and innovate through the DraftKings S.E.R.V.E.S. program, standing for Service, Equity, Responsibility, Vitality, Entrepreneurship and Sports.

• Service is a key pillar of the program, encompassing the company’s commitment to those who have served in the military. DraftKings provides training in high demand tech skills for current and returning veterans, and their spouses, to help them expand their abilities in their current role or to find meaningful employment, or explore careers in tech, through its Tech for Heroes Program. Since its launch in 2018, DraftKings has hosted 21 Tech for Heroes training classes across six cities and online, with over 500 veterans or military spouses trained, and nearly one $1M raised through the support of its customers who participate in charity DFS contests throughout the year. Additionally, its training program is complemented by a 1:1 career mentoring program for DraftKings employees and the veteran community, in collaboration with American Corporate Partners.
• Responsible gaming is also an important part of the S.E.R.V.E.S. program and DraftKings’ responsible gaming focus is to protect consumers with groundbreaking technology, effective staff training, education and resources for customers, and through the support of evidence-based research, including with world-class organizations like KRI, the International Center for Responsible Gaming, and the Harvard Medical School affiliated Cambridge Health Alliance.

To learn more about DraftKings’ commitment to responsible gaming and to advancing social innovation around the world, please visit DraftKings S.E.R.V.E.S. To learn more about KRI, please visit kindbridgeinstitute.org.

About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings’ daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

About Kindbridge Research Institute
Kindbridge Research Institute (KRI), a registered nonprofit, was founded in 2020 during the COVID-19 pandemic in response to an increased demand for mental health services for gamers when in person access to resources was no longer a possibility. KRI’s mission is to provide better access to high-quality care for gamblers and gamers through telehealth.

Forward Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact
media@draftkings.com
@DraftKingsNews

FAQ

What is the 50x4Vets program by DraftKings?

The 50x4Vets program is a research initiative funded by DraftKings to study problem gaming among veterans, partnering with Kindbridge Research Institute.

How much is DraftKings investing in the 50x4Vets program?

DraftKings has committed to a multi-year financial investment, although specific figures have not been disclosed.

What are the goals of the 50x4Vets program?

The program aims to advance research on veterans and gaming disorders, enhance treatment options, and create a knowledge base for effective interventions.

Which organization is DraftKings partnering with for the 50x4Vets program?

DraftKings is partnering with the Kindbridge Research Institute (KRI) to launch the 50x4Vets program.

When was the 50x4Vets program announced?

The 50x4Vets program was announced on December 1, 2021.

What is DraftKings' commitment to responsible gaming?

DraftKings emphasizes responsible gaming through its S.E.R.V.E.S program, integrating research and support for veterans.