Fans of sports betting would have been elated by the Supreme Court ruling that now allows states to legalize it. But the latest development involving DraftKings will surely get their excitement levels even higher.
DraftKings has been one of the biggest players in the daily fantasy sports arena. In the last few years, it seemed that DraftKings had not occupied as much space in the advertising space as before. Things are about to change now, and DraftKings new campaign in New Jersey hinting at sports betting is proof of it.
The story of DraftKings so far:
There has been a long-standing debate whether daily fantasy sports are games of chance or they constitute gambling. Earlier daily fantasy sports operators would argue that these games are not gambling and would detest any sort of comparisons. In fact, they were rooting for bills supporting daily fantasy sports.
On the other hand, it is quite clear that DraftKings Sportsbook does constitute gambling. DraftKings preparations for the possibility of sports betting taking place beyond Nevada’s borders began late last year.
Around December, DraftKings announced their plans that they aimed to accommodate around 300 additional employees and a probable relocation of headquarters in Boston. This was followed by the opening of a new office in New Jersey which was a clear indication of their sports betting aspirations.
In another significant development, DraftKings has hired a “Head of Sportsbook”. The new hire is Sean Hurley and he has held the same position at London-based sportsbook Amelco UK Ltd. Hurley will be based in Hoboken, New Jersey, and DraftKings aims to further their market expansion plans with the wealth of experience Hurley brings.
The speculations abound:
While DraftKings has given some indications about their future plans, there is not much clarity about how this is going to take place. There is plenty of preparation before a company launches its product and DraftKings is currently not giving away any details.
One of the key factors behind the success of a sports betting platform is the technology behind it. DraftKings has said that presently there is no update if the sports betting platform would be developed in-house or a third-party would provide the software for it.
One important thing to note is that according to the law in New Jersey Online Gambling, DraftKings would be required to partner with a land-based casino. DraftKings has indicated that the process of actively seeking a partnership is underway. There is no doubt that DraftKings would not leave a window of opportunity to enter the market, there has been no concrete decision about a potential partner so far.
DraftKings and its sports betting aspirations could be the perfect way to look for new business opportunities outside of its traditional daily fantasy sports play.
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