DraftKings and ESPN Expand Their Sports Betting Partnership
DraftKings is a top-tier US sportsbook and DFS (daily fantasy sports) provider. ESPN is the world-wide leader in sports. Expanding on this sports betting partnership has all the possibilities of reshaping of industry. A new DraftKings/ESPN deal is an unprecedented agreement between parties that can meet all expectations.
DraftKings has a partnership with EPSN but the company has shared the spotlight with Caesars Sportsbook. Both sports betting providers promoted gambling odds on separate platforms. DraftKings could expand this partnership to include the next step in the process. However, Caesars Sportsbook could do the same concept in its agreement.
ESPN is holding all the cards in the deck but the Disney-led company might focus on DraftKings’ licensing of ESPN’s properties. Its licensing provides the necessary attributes to get a leg up in the deal.
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What Does DraftKings Bring to the Table
With that licensing deal, DraftKings has the rights to partner with ESPN trademarks and personalities. The Boston-based company has exclusive sportsbook partner of ESPN. DraftKings’ DFS product is a separate entry in this mix that favors of the arrangement.
DraftKings Sportsbook is the No. 2 sports betting provider in the legal US market and it wants to be first. ESPN provides the stepping stone to take over the top position in the country as far as sports betting in the US. DraftKings will pay for the right to be ESPN’s exclusive sportsbook partner but it is part of the deal to realize the No. 1 position.
The connection between DraftKings and ESPN is more than a partnership tying promotional marketing and advertising around each property. When Walt Disney Company bought 21st Century Fox, the company acquired stock in DraftKings. Disney is now the parent company of ESPN and owns about six percent of DraftKings’ share.
Caesars Sportsbook could fill the role as the exclusive sports betting platform provider but that would not make sense from a practical standpoint.
DraftKings and ESPN Agreement
DraftKings’ agreement with ESPN simply may be an exclusive betting platform for the world-wide leader in sports. However, a licensed partnership between DraftKings and ESPN can mean another whole involvement for the two companies.
DraftKings has the ability to become the sports betting platform for ESPN as opposed to building and developing a platform by itself. ESPN has the ability to share in the wealth of that partner in the arrangement.
The ramifications of a DraftKings/ESPN agreement is wildly speculated at the time of the article’s writing. Yet, some connection is deeper than that. DraftKings and ESPN both want the same result and they have the joint-will to get this situation accomplished. Both parties are relying on the team to get the job done.
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