DraftKings, the daily fantasy sports giant is now on the hunt for casino partners for its potential sports betting business. The company recently announced that it has already contacted several casinos in the New Jersey area. The talks are expected to make more progress once the U.S. Supreme Court legalizes sports betting in the state.
Right now, only four states allow for sports betting: Delaware, Nevada, Montana and Oregon. All other states are banned from offering sports betting services due to the Professional and Amateur Sports Protection Act (PASPA) of 1992.
New Jersey has challenged PASPA and the Supreme Court is expected to make a decision in the near future. Gaming analysts are confident that PASPA will be repealed and so is DraftKings. The daily fantasy sports giant is already making plans to partner with casinos and be ready to launch sports betting operations in the Garden State.
James Chisholm, a spokesman for DraftKings says that the fantasy sports company is in the right place to ensure success in a legalized sports betting market. The company already has 10 million customers who are big daily fantasy sports fans. If and when sports betting becomes legalized, DraftKings will leverage is massive player database to push sports betting services.
DraftKings has so far not released any information about potential partnerships for the New Jersey market or announced any plans for opening in other states. However, the company has made strides in New Jersey by opening a new office in Hoboken, New Jersey. The new office is just two hours away from Atlantic City, which hosts seven of the state's casinos.
There are many companies who are planning to move into the legal sports betting market and one of them is FanDuel. The company is the second biggest daily fantasy sports operator in the country and the main rival to DraftKings. FanDuel is yet to release any information on a move into the sports betting industry. Scientific Games which bought out NYX Gaming in January 2018 is also expected to enter the sports betting market along with British sports betting giant William Hill.
Apart from gaming companies preparing for a future in sports betting, multiple states are already putting in place legislation to legalize sports betting. Gaming analysts report that 19 states in the US have put in place legislation that authorizes sports betting if and when there is a favorable court ruling.
About The Author
