DraftKings, one of the most popular gaming operators in the United State is currently on the verge of completing its bid to acquire online gambling and sports betting company SBTech. The announcement of the acquisition plans came just a week after SBTech had appointed a new president for its operation in the United States. This acquisition deal is reportedly set to cost between $300 million and $600 million and is set to give DraftKings an even stronger footing in the rapidly growing online gambling and sports betting markets in the country.
As it turns out, SBTech which was founded by two Israeli entrepreneurs has already agreed on a sale to DraftKings. This will give DraftKings access to its own in-house platform providers as it rolls out more of its services across the United States. DraftKings, however, is yet to give any official statement on the matter but the company’s officials gave some hints about the company’s plans by saying:
“DraftKings speaks to a variety of companies regarding various matters in the normal course of business, and it is our general policy not to discuss the specifics of any of those discussions.”
If the acquisition deal in indeed legitimate, it will be a great step in the right direction for DraftKings especially because it will finally be able to become a “one-stop shop” for online betting and sports wagering without having to rely on third parties. One of the third parties it has partnered with includes Kambi which currently facilitates its operations in New Jersey.
Rather than spend a ton of resources and money on its own platform, acquiring the SBTech will platform will make it the new owner of both an omnichannel sports betting platform and a robust gaming platform.
Other DraftKings Initiatives
DraftKings has evolved and grown tremendously since its early days as a daily fantasy sports provider. It has been a leader in terms of innovation and continues to pursue a number of impressive projects. One of its most recent innovations in the gaming space is a “Flash Bet” service that allows customers to place bets faster during tennis matches. This live wagering feature further compliments existing offerings especially considering the fact that it has become a crucial aspect of modern customer engagement and experience.
The feature is further powered by embedded graphics which allows the customers to follow the tennis ball as it travels in the court in real-time. DraftKings has plans to roll out this amazing feature to other sports in the future so be sure to look out for that.