The fantasy sports website DraftKings is shown on October 16, 2015 in Chicago, Illinois. (Photo illustration by Scott Olson/Getty Images)
On Wednesday, European sports betting provider Kambi Group revealed that it had entered into a technology agreement with DraftKings. Kambi will supply the daily fantasy sports company with the services behind its single-game sports betting.
Barely more than a month from the Supreme Court ruling that legalized sports betting in the U.S., the gaming landscape is continuing to evolve rapidly. The deal with Kambi Group will begin in New Jersey, the state in which DraftKings’ launch is most imminent. The multi-year agreement means that as regulation expands across the country, Kambi and DraftKings may extend their partnership to other states.
“[Kambi’s technology] is unique in that it empowers operators to innovate and create differentiated sports betting experiences, providing the flexibility which will be crucial in the developing U.S. market,” said Kambi CEO Kristian Nylén in a statement.
SportTechie Takeaway
This marks the second deal Kambi has made with a U.S. company, the other being with Rush Street Interactive, part of casino operator Rush Street Gaming. Kambi stock closed just over 15 percent up on Wednesday.
Another fantasy site, Boom Fantasy, recently announced that it had secured $4.5 million-worth of funding that will go toward developing fresh gameplay and securing new partners. Earlier this month DraftKings was also talking to investors to raise money for its betting ambitions. In order to bolster its single-game sports betting product, the company is seeking an amount somewhere in the $150 to $200 million range.
