DraftKings continued a busy week of deal-making on Wednesday, as the company announced a sports betting partnership with the New York Giants.
Under the agreement, DraftKings becomes the official sports betting and daily fantasy sports partner of the Giants.
DraftKings Expanding Pro Sports Presence
DraftKings can use Giants’ team trademarks and logos under the terms of the partnership. The company will also hope to expand its brand recognition, namely in New Jersey and New York. Both states have legalized sports betting, though New York only allows wagering on-site at upstate casinos.
“We’re trying to service the sports fan, and the sportsbook and [daily fantasy sports] are important to us, and we’re going to create a lot of opportunities for fans to have fun,” DraftKings Chief Business Officer Ezra Kucharz told CNBC. “This is about fan engagement and doing what’s right for the person that unfortunately can’t get into a stadium right now, and has to be at home but wants to be there.”
When fans do return to NFL stadiums, DraftKings will see even more benefits. The company obtained the right to integrate its brand at MetLife Stadium, and on the Giants’ media platforms. DraftKings will also gain access to a virtual sports lounge that will open on game days.
NFL Teams Slowly Adding Sports Betting Partners
The NFL has been among the slowest sports organizations to integrate sports betting into its fan experience. The league has loosened its rules since the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018, and teams are beginning to take advantage.
“Our enhanced agreement with DraftKings provides innovative opportunities as we look to deliver a best-in-class fan experience,” Pete Guelli, Chief Commercial Officer for the Giants, said in a statement. “DraftKings is the pre-eminent leader in sports betting and daily fantasy sports, and we are excited to be the first NFL team to have an exclusive integrated deal in this category.”
The deal places DraftKings in direct competition with its longtime DFS rival, FanDuel. Meadowlands Racetrack hosts a FanDuel sportsbook, and is located in the same complex as MetLife Stadium.
While DraftKings may be making the biggest moves in the American sports betting landscape, it is far from the only operator actively finding partners. Fox Bet announced earlier this week it reached a multiyear sponsorship agreement with the Philadelphia Eagles.
Fox Bet offers online casino, poker, and sportsbook options in Pennsylvania. Along with content and advertising integration, the Eagles will also build a new premium lounge and interactive studio at Lincoln Financial Field, which will feature the Fox Bet brand.
“We’ll be producing brand new digital content from the Fox Bet Lounge, and will be offering a truly unique VIP experience with exclusive sightlines of player arrivals and press conferences,” Eagles senior vice president of revenue and strategy Catherine Carlson told the Philadelphia Business Journal.