DraftKings recently made a move aimed at continuing its domination in the US sports betting market by inking a deal with U.S. Open Champion Bryson DeChambeau. Partnerships such as the one with Bryson DeChambeu have long served as a vital marketing and advertising tool for DraftKings and its competitors.
As a result of this partnership, Bryson DeChambeau will now serve as the face of DraftKings golf. The multiyear content and marketing agreement with the U.S Open Champion is designed to boost golf’s excitement among fans. Golf has become increasingly popular for DraftKings customers.
So much so, that last year, DraftKings made history by becoming the PGA TOUR’s 1st official daily fantasy game partner. Later on in the year, DraftKings expanded its relationship with gold when it became the PGA Tour’s 1st official betting operator. This partnership with DeChambeau, who is listed as DraftKings’ favorite to clinch the Masters at 8-1, makes total sense for the popular daily fantasy sports operator.
As part of DeChambeau’s deal with DraftKings, his golf cap will feature the DraftKings logo on the side during the 2020 Masters. The agreement will also see DeChambeau take part in experiences created to create engagement with fans such as giving fans lessons or inviting DraftKings customers to play a round of golf with the champion. The PGA hasn’t seen such partnerships in the past as it only recently approved a policy change that now sees golf players enjoy such sponsorships with betting operators.
The Masters, which are typically held earlier on in the year in April, were delayed and moved to November thanks to the outbreak. Now that the Masters is overlapping with the NFL season that is underway, DraftKings should see a spike in its numbers. It helps that it already has given punters an incentive to wager in their numbers thanks to the $100,000 free-to-play pool that it is currently offering punters.
DraftKings signing sports betting partnerships left, right, and center
Just recently, DraftKings signed another huge partnership with Turner Sports, therefore effectively making DraftKings the exclusive sportsbook partners for broadcasts on TBS, TNT, as well as the ever-popular Bleacher Report. Thanks to this deal, DraftKings will handle all major sports, except basketball, including MLB playoffs.
Such partnerships with TV networks are a win-win for all parties involved. From such partnerships, the networks are primarily interested in boosting viewership thanks to continued sagging ratings. Sportsbooks, on the other hand, benefit by reaching new customers. Such partnerships also held sportsbooks stand out against the competition, which is growing by the day.
DraftKings has also previously joined rival Caesars Entertainment signed multi-year deals with ESPN. Now, DraftKings is featured regularly on ESPN, as well as the ESPN’s mobile app and fantasy sports offerings. Just recently, DraftKings shares shot through the roof after the company announced that basketball legend and the National Basketball Association Hall of Famer Michael Jordan would have an equity interest in the company after he joined as a special advisor to the board of directors.
It is evident that sports leagues such as the PGA Tour experience considerable audience growth and engagement possibilities when they embrace sports betting. And even though the PGA Tour has been slower than other leagues to embrace such partnerships, this is only the beginning as sports betting continues to dominate the rest of the country and the world.
Sports betting grows, DraftKings continues to dominate
Thanks to such partnerships with big brands, DraftKings has been able to greatly expand its product offerings for its customers across various states. This has made it a lot easier for the brand to dominate the American betting market.
With sports betting now available in Tennessee, DraftKings has joined other 6 operators in the state in the mad dash to acquire market share and a piece of the sports betting action in the nation’s newest legalized sports betting jurisdiction.
Launched in 2012, DraftKings is now available in more than 15 regulated local and international markets. In America, DraftKings is available in several states including Colorado, New Jersey, Mississippi, Illinois, Indiana, Iowa, Pennsylvania, New Hampshire, New York, Tennessee, and West Virginia. It is also available in 8 countries internationally including Austria, Ireland, and South Africa.
Sports revenue all over the country continues to prosper, breaking monthly records after monthly records. According to figures released by the Pennsylvania Gaming Control Board, state-licensed online and land-based operators generated combined revenue of $284.2m. New Jersey, which is currently the king of legal sports betting in the country, alternatively recorded an impressive $748.5 million handle.
On the other hand, Iowa’s sports betting market saw a considerable boost in revenue and betting handle in October with punters in the Hawkeye state wagering a cool $81.8m on sports. Indiana also set a new record when it came to both the handle and performance, generating a record $230.9m in sporting wagers. DraftKings has operations in all these states. It expects to join Michigan and Virginia soon.
DraftKings has been securing partnerships and deals since its advent in the sports betting market. This deal with US Open champion Bryson DeChambeau is just another deal that will help the company continue its market domination. There appears to be a type of gold rush between various sportsbooks in securing partnerships with major professional sports leagues and the corresponding teams situated within these leagues.
As sports betting stocks remain volatile and highly susceptible to interruptions by the pandemic, DraftKings is looking to continue forging such alliances with various sports networks, celebrities, and physical casinos as part of the group’s ongoing expansion plan.
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