On Wednesday (Mar. 3), sports betting site DraftKings and cable television provider DISH Network announced a first-of-its-kind partnership that will bring gaming directly to television broadcasts.
The new strategic partnership across DISH’s portfolio of brands will bring DraftKings’ sportsbook and daily fantasy experiences directly to DISH customers nationwide, starting with a DraftKings app integration on the DISH TV Hopper platform. Going forward, the partnership will also reportedly create tie-ins with DISH Network’s Sling TV and Boost Mobile offerings.
“The integration with DraftKings is an exciting enhancement for our customers and a great addition to the growing DISH TV Hopper platform — a one-stop entertainment hub,” said Brian Neylon, group president, DISH TV. “We’re thrilled to work with DraftKings to amplify the sports-fan experience, and extend the DraftKings footprint across our unique suite of services, including Sling TV and Boost Mobile, with potential applications across our 5G wireless buildout in the future.”
With the new integration, consumers will be able to use their cable receiver to access the DraftKings app to view betting odds and fantasy contests. From there, they can directly initiate bets or contest entries and then set their receivers to record the live sporting events that correspond with their recent bets or fantasy teams. Bets that are started via the television will still need to be confirmed and completed via a mobile device. Sports included in this maiden launch are NCAA basketball, NBA and NHL, with additional leagues still to come.
“Our deal with DISH TV and the technology behind it immerses customers within a next-generation viewership experience and reaches these fan bases in a completely new way,” said Paul Liberman, president of product and technology and co-founder at DraftKings. “This is a unique opportunity for fans to watch games and engage with our real-money products, while the technology also allows for further innovation ahead.”
As gambling is only legally allowed on a state-by-state basis, regionality will in some cases determine the functionality of the offering for users. Those living in legalized sports betting states will be able to use the app to place bets; those who do not will still be able to peruse all of the informational content, but transactions will be off-limits.
However, given the steady march of online gaming legislation of late, those limitations will apply to fewer and fewer consumers going forward, as sports getting is gaining a legal foothold in an ever-increasing number of states. New York state is considering an expansion of gaming access as a means to help close a $15 billion budget gap. Illinois recently legalized online gambling, and Maryland and Louisiana are both likely to flip toward legality by year’s end, according to reports. Last year, Iowa, Colorado, Tennessee and Virginia joined the roster of the 12 states that have legalized online gambling, and another 19 states are considering legislation to allow it.
And consumers stuck at home seem to be welcoming online sports gambling, as DraftKings has seen its shares rise by 305 percent year on year. On Monday (Mar. 1) alone, stocks sprang up 10 percent to reach a new 52-week high. In Q4, revenue reached $322 million, a solid beat on the $233.2 million forecast. The firm also noted that its number of unique players had increased by 44 percent during the last quarter of 2020 to reach 1.5 million.
Moreover, the firm forecast that revenue could be between $900 million and $1 billion this year, up from an earlier forecast of between $750 million and $850 million. And now, with an expansion into television, DraftKings is clearly expecting a big year. With access to so many new eyeballs now opening up through DISH, it’s hard to argue that their hopes are all that misplaced.
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