Major League Baseball and DraftKings have expanded their agreement together. This multi-year deal will give DraftKings access to the MLB data as well as the use of the MLB logo.
For DraftKings, this deal means they will now have a better in-game and live-betting experience with the use of this MLB data. DraftKings now has deals in place with Major League Baseball (MLB), the National Basketball Association (NBA), and the National Hockey League (NHL). The financial specifics of the deal have yet to be disclosed.
The partnership extension makes sense as DraftKings was already the MLB’s official daily fantasy partner. DraftKings also has a marketing agreement with 27 of the league’s 30 teams.
DraftKings’ chief business officer, Ezra Kucharz, had this to say about the deal:
“DraftKings is proud to be designated as a Major League Baseball authorized gaming operator. This deal speaks to the commitment we have to our customers and sports leagues alike while providing the safest and most entertaining American-made sportsbook. As a result of this agreement, our customers will experience enhanced live wagering offerings for all MLB games.”
Kenny Gersh, the MLB executive vice president, gaming & new business ventures added:
“Given DraftKings’ successes in driving fan engagement and immersive experiences, we’re looking forward to an expanded partnership and further collaboration on engaging products.”
Advantages For DraftKings
The purpose of this deal for DraftKings was how it will greatly impact their live-betting options. With this partnership with MLB, DraftKings will now be able to offer in-game betting options at a much faster rate. That is key for bettors as speed is a must.
Bettors may only have a few seconds to react to a specific bet before the odds change, or the bet is in action. Any additional time is crucial. For bettors looking to participate in live-betting on MLB games, the added time at DraftKings to place your bets will be a big difference than other sportsbooks, such as FanDuel or William Hill.
DraftKings now has a partnership in place with three of the four major sports leagues. Caesars is partnered with the final major sports league, the National Football League (NFL). These partnerships give DraftKings a big leg up on their major competitor, FanDuel.
While DraftKings may have the edge in major sports partnerships, FanDuel is still dominating DraftKings in sports betting handle and revenue. FanDuel has had the edge on DraftKings in New Jersey every month since February of 2019. In Pennsylvania, FanDuel has recently launched its online sportsbooks, while DraftKings is still finding a way into the market.
These major partnerships should help DraftKings start to close the gap between itself and FanDuel. It may take time for DraftKings to start reaping the benefits of its partnerships with the leagues. However, until that happens, FanDuel is still king in the United States.