Sports Betting: DraftKings Partners With Atlantic City Casino For Online GamblingDaily Fantasy Sports Leader Eyes Entry Into New Market |
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Just days after FanDuel and Paddy Power Betfair agreed to a U.S.-based merger, the other daily fantasy sports powerhouse has found a partner for sports betting.
Per the Associated Press, DraftKings and Atlantic City’s Resorts casino-hotel have reached a deal for the upcoming opportunity to take sports bets. The U.S. Supreme Court in mid-May gave states the right to legalize the activity within their respective borders.
DraftKings and FanDuel control some 90 percent of the DFS market, an activity that has many parallels with sports betting. DFS was able to flourish in recent years thanks to a legal grey area surrounding fantasy sports. The casino industry labeled it gambling.
The DraftKings deal with Resorts Atlantic City was signed Friday morning, per the AP.
“We are excited to work with Resorts Hotel Casino to bring our new DraftKings sportsbook to New Jersey,” DraftKings CEO Jason Robbins said in a statement.
“As a tech savvy and a long-term growth oriented organisation, Resorts Hotel Casino aligns perfectly with our customer-focused, innovation culture."
New Jersey is planning to kick off sports betting by mid-June. Delaware made headlines this week by indicating it will kick off single-game sports wagering on Tuesday.
The fantasy sports market is worth more than $7 billion annually, according to the latest figures from the Fantasy Sports Trade Association. The DFS portion has been trimmed in recent years thanks to the industry’s legal issues. The market for sports betting is expected to grow to $4b-$6b in the next five years, assuming more states implement the activity.
The SCOTUS sports betting ruling makes traditional sports wagering possible in all 50 states.
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