Lebron James Signs Deal With DraftKings

Can Lebron James attract new sports bettors? That’s what DraftKings is betting on after recently signing the NBA superstar as an ambassador.

The multi-year deal focuses on football, not basketball, with James making a weekly pick as part of the agreement. The legendary player is a major football fan and is known to offer up his own selections via social media throughout the season. Those selections will now be part of the DraftKings umbrella.

“LeBron will help support key football initiatives and tentpole events through content creation, such as weekly football picks and more,” the company noted in announcing the signing.

Teaming Up With DraftKings

Terms of the deal weren’t announced, but James likely received a sizable sum to help promote the brand. The NBA’s all-time leading scorer has more than 52 million followers on Twitter and almost 160 million on Instagram, and already sports endorsement deals with brands such as Nike, McDonald’s, AT&T, Beats, Crypto.com, GMC, and Pepsi that paid out an estimated $80 million in 2023.

The deal comes as major sports betting operators continue a marketing arms race featuring deals with teams, leagues, and individual players to attract more customers. DraftKings and FanDuel continue to lead the market with BetMGM, Caesars, and others looking to compete as well. In August, Penn National Gaming also announced a deal to launch an ESPN-branded mobile sportsbook as well.

As part of his deal, James is solely focusing on football handicapping as the NBA doesn’t allow players or coaches to publicly discuss betting on the league’s games. The deal may also be a coup for DraftKings, considering ESPN has long been an NBA broadcast partner.

The move is a stark contrast to where U.S. sports leagues were only a few years ago. Sports betting was seen as a corrupting force by many in the sports industry. Now many players and the leagues themselves are partnering with sportsbooks, and this year’s Super Bowl is even being played in Las Vegas for the first time.

This may not be the only deal in the works for DraftKings. Rumors have swirled recently that the company may be inking a deal with Barstool Sports in the coming weeks.

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