NFL’s New York Giants to Join forces With DraftKings

Just a matter of weeks into the new NFL season, the Garden State of  New Jersey has pulled off a major coup with one of the state’s leading online sportsbooks, DraftKings announcing putting pen to paper in a new multiyear agreement with one of the NFL’s most popular teams in the state, the New York Giants.

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It’s a deal similar to one that BetMGM signed with the Denver Broncos and FanDuel also begun with the Colorado NFL team. The agreement makes DraftKings the Giants’ official sports betting and Daily Fantasy Sports (DFS) partner. This is now the third deal that DraftKings has made with NFL teams, with the other two being the Cowboys and the Patriots. However, this deal is slightly different, as the New York Giants home stadium (MetLife Stadium) is physically located in the nation’s legal sports betting heartland in East Rutherford, New Jersey.

The specifics of this deal grants DraftKings access to official Giants logos and trademarks, in addition to a unique Virtual Sports Lounge that will open on Giants’ game days to provide viewers with brand-new and innovative ways to engage interactively across all of DraftKings online platforms and different sites.

DraftKings Boss Says It Is About Keeping Giants Fans Happy

When commenting on the deal, DraftKings’ Chief Business Officer, Ezra Kucharz referred to it as a “multi-segment relationship.” Clearly the door is open for an evolution of the current offerings for sports bettors and Giants fans into the future.

“It’s about all the products,” Kucharz remarked. “We’re trying to service the sports fan, and the sportsbook and [Daily Fantasy Sports] are important to us, and we’re going to create a lot of opportunities for fans to have fun.”

DraftKings gains a significant increase on brand exposure from the agreement with the Giants. The company will receive “premier brand integration across MetLife Stadium during Giants home games” and a vital presence “across all team-controlled media including television radio and digital and social.” Kucharz said.

“This is about fan engagement and doing what’s right for the person that unfortunately can’t get into a stadium right now and has to be at home but wants to be there,” Kucharz continued.

The Giants and DraftKings will be working on the provision of a Free-to-Play Pick ‘Em game to become exclusively available to Giants fans on a weekly basis.

The Giants & DraftKings Partnership is BIG Business

The attraction of the Giants to DraftKings is clear. Physically located inside sports wagering’s leading state (New Jersey), but only 5 miles from downtown New York City in Manhattan and even less to the New York State Line, the Giants are one of the most valuable sports franchises in the United States.

Globally, the Giants are ranked in the Top 40 out of 700 sports teams for most highly bet-on sports franchises. With more than 30 million people living within a 100-mile radius of the Giants home stadium, the value of the DraftKings-Giants partnership is immeasurable.

“Our enhanced agreement with DraftKings provides innovative opportunities as we look to deliver a best-in-class fan experience,” Giants Chief Commercial Officer Pete Guelli said in a media release. “DraftKings is the pre-eminent leader in sports betting and daily fantasy sports and we are excited to be the first NFL team to have an exclusive integrated deal in this category.”

The deal with the New York Giants completed a big week for DraftKings, with the sportsbook earlier releasing details of its multiyear partnership with ESPN, making DraftKings the network’s exclusive DFS provider and integrating its digital sports betting products across the ESPN online platforms and during live sports telecasts.

It’s a number that might not take long to tumble, with the NFL (traditionally the most popular betting for Americans) having begun in September.

The Garden State’s sports bettors were out in force in August, like never before (Sports wagering in New Jersey for August 2020 was up 56.7% compared to August 2019), and enjoyed wagering on the new NBA and NHL playoffs formats in their late July season reboots, continuing into August. Remember, there were not only new formats, but also innovative programming schedules that in the early rounds provided wall-to-wall live sports programming from early afternoon into the late hours almost every day. As FanDuel NJ spokesperson, Ken Hennessy summed it up nicely;

“It was good to have sports back in August. The NBA and NHL bubbles and MLB’s strong return gave sports betting in New Jersey the needed boost to a record month.”

Major League Baseball (MLB) also began its shortened season in late July; the PGA Tour had five tournaments throughout August, including one major in the shape of the PGA Championship; and Mixed Martial Arts (MMA) was highlighted by the UFC 252 three-peat bout between heavyweights Daniel Cormier and the eventually triumphant, Stipe Miocic.

Baseball generated $150 million in bets for the month, while basketball added $166.2 million Other sports, including hockey, generated $204.9 million.

NJ Online Sports Betting the Biggest Winner of all in August 2020

 The percentage of those New Jersey sports wagers coming online versus in person at physical sportsbooks will put a smile on the CEOs of the state’s online sportsbooks. Despite bricks-and-mortar being open in August at 25% capacity and under certain public health restrictions, online sports wagering represented $601.9 million of the NJ total versus $66 million coming in-house. In other words, that represents approximately 90% of the betting handle coming online in its many formats. It’s a number that simply shows no sign of abating. Prior to the impact of the global health pandemic, New Jersey’s online sportsbooks took in between 80 to 90 % of the state’s sports betting handle online/mobile for 14 consecutive months. Then the pandemic struck, and the online numbers instantly climbed.

As a collective unit, New Jersey’s online sportsbooks took in around $39.5 million of the dollars wagered as revenue in August 2020 (roughly 5.9%) and around $10 million more than the previous month of July. The “win” also generated $4.9 million in state taxes for funding the New Jersey State Budget and consolidated revenue.

Online Casinos also up in NJ in August

The betting handle report from the New Jersey Division of Gaming Enforcement (DGE) also clearly showed the growth in Garden State’s licensed online casino and poker industry. Operators reported combined revenue of $87.77 million in the month of August 2020, more than double the $41.1 million generated in the same month in 2019.

August’s online casino revenue total also narrowly edged past the previous monthly record of $87.5 million in July in NJ. Online casino revenue rose by an astonishing 115% to $84.7 million and even online poker increased by 77.7% to just over $3 million.

For New Jersey year-to-date, online gambling revenue has amassed just under $598 million, a 100.7% increase on the first 8 months of 2019. Online Poker is up 96.2% to $28.3 million, while online casino revenue jumped 101% to an impressive $569.7 million.

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