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DraftKings (DKNG), Major Football League Extend Betting Deal

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DraftKings DKNG has expanded its deal with Major League Baseball (MLB) to include the live streaming of games on the sports betting and daily fantasy giant’s app. It marks DraftKings’ first live streaming deal with a major North American professional sports league.

The new agreement comes with the introduction of the ‘Bet & Watch’ streaming integration, enabling fans with MLB.com and DraftKings accounts to watch one free, live game per week from the baseball league through DraftKings app.

In addition, DraftKings and MLB plan to collaborate on future sports betting-themed game broadcast experiences that will be live within the MLB.TV product. As part of the expanded relationship, DraftKings remains the exclusive official daily fantasy sports partner of MLB.

DraftKings has also been named as a co-exclusive official sports betting partner of MLB, joining BetMGM, receiving on-site brand exposure and activation opportunities during all MLB Jewel Events, such as the World Series.

DraftKings Inc. Price and Consensus

DraftKings Inc. Price and Consensus
DraftKings Inc. Price and Consensus

DraftKings Inc. price-consensus-chart | DraftKings Inc. Quote

Solid Partner Base to Drive Expansion

Notably, sports betting and online gambling companies like DraftKings and Penn National Gaming PENN stand to benefit from the accelerated betting on digital platforms like online poker, casino games and lottery.

The partnership with Major League Baseball is the latest in the string of similar deals between DraftKings and various sports leagues and media companies, which help the company attract new customers, thereby aiding customer acquisition.

DraftKings is the only U.S.-based vertically integrated sports betting operator, powering sports and gaming entertainment for 50 operators across more than 15 regulated U.S. and global markets.

In May, the company announced becoming the first official daily fantasy sports, iGaming and sports betting partner of 23XI Racing and its esteemed driver, Bubba Wallace at the EchoPark Automotive Texas Grand Prix at Circuit of the Americas. While DraftKings is already the official daily fantasy partner of NASCAR, the agreement with 23XI Racing positions DraftKings to hit a new high in its motorsports offerings, integration and entertainment.

In April, the company became the Official Sports Betting Partner of the National Football League (NFL). Moreover, DraftKings has renewed its exclusive relationship as the official daily fantasy partner of the NFL, which provides DraftKings with exclusive rights to NFL marks to promote daily fantasy sports contests.

Further, this Zacks Rank #3 (Hold) company’s partnerships with MansionBet (the sports betting brand of Mansion Group), Turner Sports– a subsidiary of AT&T’s T WarnerMedia, sports icon Michael Jordan, the New York Giants, Chicago Cubs and Disney’s ESPN are expected to expand its reach and drive customer engagement on its platform.

These partnerships bode well with the company’s aim to gain brand exposure and secure market share in the U.S. sports betting market.

Additionally, persistent strength in iGaming such as online Blackjack and Roulette is expected to drive active user growth, thereby aiding user acquisition in the near term. Such efforts also improve its competitive prowess against the likes of Capcom and Boyd Gaming BYD.

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DraftKings Inc. (DKNG) : Free Stock Analysis Report

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