DraftKings CEO: Parents Should Talk to Their Children About Gambling

DraftKings co-founder and CEO Jason Robins believes that the responsibility for keeping children away from gambling belongs not only to families but also to the gaming industry and his $10 billion company. Speaking to CNBC gaming reporter Contessa Brewer, Robins said that raising children in a culture where gambling is widespread creates new challenges for parents.

According to Robins, gambling should be discussed within the family as openly as topics like alcohol and sex. In his view, a transparent relationship in which children can ask anything is the most important factor in preventing minors from gambling.

The report highlights that the spread of legal sports betting, and professional and university leagues supporting these bets, has increased gambling among young adults. Sports prediction markets that allow users over 18 are also raising concerns. DraftKings now operates in all 50 states and, where traditional sports betting is banned, offers its service through DraftKings Predictions. Because these markets are subject to federal oversight, local rules can be circumvented, although lawsuits over state authority are ongoing.

Data released this week by Rutgers University's Center for Gambling Studies show that about 43 percent of U.S. teens aged 13 to 17 gambled last year. Roughly 40 percent of those who gambled showed some level of problematic behavior, and 10.3 percent meet the clinical definition of high-risk problem gambling. There are also critics. Financial expert Dave Ramsey said in January that the company exploits the young male generation. DraftKings and FanDuel are also the targets of many lawsuits over alleged deceptive marketing claims.