DraftKings Set to Renew Sports Betting Partnership With MansionBet
DraftKings’ has long been the frontrunner in the daily fantasy sports market. Originally, they were strictly a DFS platform, but have since introduced sports betting as another service to their customers. With a Supreme Court ruling in 2018 in the United States that allowed states to choose to legalize sports betting, DraftKings saw this as an opportunity, as more and more states began to legalize online and live sports betting.
The deal between the two online betting giants began in 2018 and saw immediate success and growth for MansionBet. It started with MansionBet only using the innovative DraftKings’ proprietary software, as they were just sportsbook. However, this new deal will include the entire catalog of DraftKings’ APIs.
What the renewed MansionBet deal includes
Not only will DraftKings’ be supplying their sportsbook software, MansionBet will now utilize all aspects of this highly advanced B2B platform. This will include all payments and transactions, as well as all compliances, and anti-fraud measures.
Perhaps the most interesting part of this new deal will be the expansion of horse racing, which will include live horse racing and betting from race tracks worldwide.
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Quotes from DraftKings’ and MansionBet
Shay Berka, DraftKings’ Chief International Officer, had much to say about this renewed deal and new services that will be offered to their players in 2021 and beyond.
“Across multiple global jurisdictions, DraftKings’ is changing the way fans engage with sports,” Berka said. “Our renewal and extension with MansionBet, a tier-one operator in the highly competitive U.K. market, is another example of the strategic value DraftKings’ cutting edge B2B technology provides to our clients.”
On the other side, MansionBet was equally optimistic about the future of this partnership. “DraftKings’ B2B platform has been instrumental to the success of MansionBet since we launched”, Karel Manusco, MansionBets’ CEO said. “The extended deal will allow us to provide our players with the ultimate sports betting experience, including increased offerings and an enhanced horse racing product, utilizing the impressive platforms and services that DraftKings’ provide.”
DraftKings’ sees jump in pre-market share value
Once the announcement was made on the 27th of October 2020, DraftKing (DKNG) stock saw an almost $2 jump in their pre-market value. Just 3 weeks ago on October 2nd of 2020, they had an all-time high value of $63.78. This quickly dropped down only a few weeks later to the mid $30’s though. With this new deal inked, both companies’ stock should see an increase in share value.
About DraftKings’ and MansionBet
Since 2012, DraftKings’ has long been the frontrunner in the daily fantasy sports industry, with little to no competition aside from FanDuel. In a short time, the brand that was created in the bedroom of a small apartment in Massachusetts has become a household name.
In April of 2020, they began trading on the NASDAQ exchange and continue to see steady growth. DraftKings’ now offers betting across 15 sports in 8 different countries.
MansionBet is owned by Mansion Ltd, a giant in the online casino and betting world for over a decade. Operating out of Gibraltar, they offer their services to countries around the globe, including the UK and US markets.