DraftKings, Kambi Extend Sports Betting Contract To Include 9 States

by | Aug 22, 2019 3:55 pm | Sports Betting | 0 comments

DraftKings, Kambi Extend Sports Betting Contract To Include 9 States

Swedish tech company Kambi Group plc extends contract with Draftkings to partner in 9 states.

  • 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.

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