DraftKings Inc (NASDAQ: DKNG) finds itself embroiled in a class-action lawsuit accusing the sports betting platform of deceptive advertising regarding its $1,000 bonus bet offer.
The suit, filed by the Public Health Advocacy Institute on behalf of two Massachusetts residents, alleges that the promotion's stringent terms mislead customers into thinking they'd receive a $1,000 bonus with a deposit when, in reality, they needed to deposit $5,000 and wager $25,000 within 90 days to qualify.
Citing the lawsuit, the Financial Times noted that the bonus would be paid out only in non-withdrawable credit.
The institute contends that DraftKings' ...