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DraftKings has first-mover advantage on digital sports betting in New Jersey but will it be able to compete against its old foe FanDuel, which now has the might of Paddy Power Betfair behind it? (Image: DraftKings Sportsbook) DraftKings Sportsbook launched in earnest on Monday morning after a week of invite-only beta-testing, in partnership with Resorts Atlantic City and with the technical help of the Malta-based Kambi Group. The launch marks DraftKings transformation from daily fantasy sports operator to online bookmaker. A land-based sports book is expected to follow at Resorts Casino soon, although no timeframe has been offered. DraftKings Sportsbook is available on desktop, iOS and Android and offers the kind of betting features that have been honed over 20 years of regulated online sports betting in Europe – proposition betting, in-play betting, and a “cash out” function that allows bettors to either lock in a profit or to cut their losses early, before the end of a game. What’s interesting is the depth,” DraftKings co-founder Matt Kalish told NorthJersey.com Monday. “You don’t come on and only see, say, the Giants to win. There are dozens of markets within the game, real-time priced in-game wagers. And there is the capability of cashing out bets already made.” Kalish added that the company had responded to criticism during the soft-launch phase that the vig on baseball games was too high and has now made the necessary adjustments. The New Jersey Division of Gaming Enforcement is currently considering applications from several other companies poised to launch online sports books.
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“This investment comes at an exciting time, as the legalization of sports gambling across the country is driving an evolution within the sports media space,” said Brian Musburger, cofounder and chairman of VSiN (and the sportscaster’s nephew). “This will change the way people watch sports.” SeventySix Capital declined to disclose the amount of the investment, but said it was in its usual range of $250,000 to $1 million. Per a press release, VSiN will use the dough to expand its video capabilities and data offering. But what exactly does that mean? Spokeswoman Michelle Musburger (Brian’s wife) said the company is working to improve its subscription model and developing an over-the-top (OTT) streaming offering in the vein of what companies like Sling and Fubo have done to capitalize on the cord-cutting movement and bypass the big content distributors. This #CharlesBarkley bet on the #GoPats #Rams #SuperBowl ended up costing Nick Bogdanovich his job.
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