If there was any doubt about the growth of sports betting and the magnitude of possibilities, then the news of Michael Jordan as an investor and adviser to DraftKings ended all dispelling notions. In a report provided by CNN Business, Jordan will also inform DraftKings' board on strategy, product development and inclusion initiatives. The news of this agreement affected the price of DraftKings stock. The value increased by 8% in early trading.
The fact that Jordan was known as an avid gambler will help bring a level of intuitive thinking that most executives do not possess. Jordan’s association with the NBA will open discussions with other former and current athletes in promoting the DraftKings brand. I would expect the strategy employed would take on a global presence that can extend into other countries. While the current app is a good product, I can see it being upgraded with new features and offerings including eSports.
Jordan is not the only iconic athlete to have ties with a sports betting operator. Allen Iverson has done promotional work for PointsBet. Charles Barkley, Shaquille O’Neal, Kenny Smith, and Ernie Johnson, the panelists for the Inside the NBA on TNT, have FanDuel odds posted before the start of every game.
Ted Leonsis and Zach Leonsis, the leaders of Monumental Sports and Entertainment, have partnered with William Hill to open a sports betting operation that is part of the Capital One Arena. This is the venue that the Wizards, Capitals, and Mystics play their home games. They have also developed broadcasts that are gaming centric and provide information to the audience on the possible bets you can make thru out the course of the game.
SeventySix Capital has developed an advisory board to provide strategic and legal advice for any entity that is considering sports betting opportunities. Spectrum Gaming Group is an established leader in casino gaming and has given conferences where sports betting is the keynote topic. Rush Street Interactive and VSIN have join forces to have a show from the Rivers Des Plaines property called Rush Hour. This will provide data to the patrons about the bets. ESPN and Doug Kezirian are doing the Daily Wager show from the LINQ in Las Vegas. This will have millions of people tuning in to get the views of prognosticators around the country.
There is an opportunity for you to be part of this. Some companies that are mentioned in this article are trading publicly. Invest now while the price is affordable. The market is growing, and the window is wide open. More states are expanding their gaming offerings and sports betting will be a consideration.
Follow me on Twitter during the NBA Playoffs & NFL 2020 Season.