- DraftKings and Kambi first announced their partnership in 2018 which only covered New Jersey.
- With New Jersey sports betting being an instant success, the companies decided to include eight more states for a total of nine.
- Online sports betting is expected to reach two-thirds of the states in a seven-year time span.
BOSTON – The sports betting technology provider, Kambi Group plc, and daily fantasy company turned sportsbook operator, DraftKings, have agreed to extend their partnership.
The extension was announced by Kambi on Thursday and gives the pairing the ability to venture into eight additional states than previously planned.
“I’m delighted the extension of our relationship through this new agreement will enable players in other states to enjoy the same exciting sports betting experiences that have helped DraftKings become a market leader in New Jersey,” said Kristian Nylen, the CEO of Kambi.
The major success in New Jersey came to the pairing when they launched the first online sportsbook in the Garden State, under one of the licenses associated with Resorts Casino. In fact, for DraftKings, the New Jersey sports betting operation has accounted for a third of their entire yearly revenue.
“Kambi has been a key partner for DraftKings, providing us with backend sportsbook technology that has enabled to us to offer our customers an engaging product in a highly competitive market,” said Jason Robins, the CEO of DraftKings.
Kambi’s benefits have been synonymous to DraftKings and this extension will also provide “the opportunity to generate incremental revenues… when the partnership enters the additional jurisdictions.”
The jurisdictions that are in the plans include Colorado, Indiana, Iowa, Maine, New York, Pennsylvania, Tennessee, and West Virginia. Of these states, only Maine and Colorado have yet to legalize sports betting but both have sent measures to their governors, showing that potential legalization is on the horizon.
DraftKings Sportsbook is scheduled to launch in New York on Friday when the del Lago Resort & Casino open their doors to sports betting. However, mobile betting is still on the backburner within New York, as legislators have yet to approve any measure to support an online gambling industry.
Still, the companies are already planning on entering as many states as possible when it comes to online betting. Robins even predicted that two-thirds of the country will offer live online sports betting somewhere in the five- to seven-year timeframe.
News tags: Colorado | del Lago Resort Casino | DraftKings Sportsbook | Indiana | Iowa | Jason Robins | Kambi Group plc | Kristian Nylen | Maine | New Jersey | New York | Pennsylvania | Rivers Casino | Tennessee and West Virginia
Michael began writing as an NBA content writer and has spent time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant. A graduate of both schools, he covers topics focused on legal sports betting bills, sports betting revenue data, tennis betting odds, and sportsbook reviews. Michael likes to play basketball, hike, and kayak when not glued to the TV watching midlevel tennis matches.