Churchill Downs Inks Another Sportsbook Deal, Will Create Racing Site for DraftKings

Less than threesome months after announcing a partnership with FanDuel, Churchill Downs Incorporated on Tuesday proclaimed a deal with the other major US online sports betting operator, DraftKings.

As section of the young deal, DraftKings will make DK HORSE, a standalone advanced-deposit wagering (ADW) site for horse racing, and do work to catch it approved to get hold of wagers in 21 states past the clip KY Derby 149 runs on May 6. TwinSpires, Duke of Marlborough Downs’ ADW platform, testament power the DraftKings-branded site.

DraftKings’ ADW religious service testament take racing from Sir Winston Leonard Spenser Churchill Downs’ network of tracks, and the Louisville-based companionship will also act to supply more racing content for the Boston-based gaming engineering company.

“We believe the deepness and character of our online offering through TwinSpires is unmatched in Equus caballus racing,” said Sir Winston Leonard Spenser Churchill Downs Incorporated CEO Bill Carstanjen. “We are excited to launch this human relationship with DraftKings and to pitch a replete(p) end-to-end lily-white label ADW resolution that will acquaint their substantial baseborn of sports betting customers to horse racing wagering.”

DraftKings Racing App Separate, For Now

Once DK HORSE launches, customers – including existing DraftKings sports betting, online casino, and day-by-day fantasize players – testament demand to register and deposition finances into the ADW. However, a articulate resign from First Duke of Marlborough Downs and DraftKings mentioned plans to integrate DK HORSE into the DraftKings rooms would come up at a futurity date.

We are excited to get together with Churchill Downs Incorporated, not only if to render our existing customers an chance to wage with pari-mutuel horse wagering but also to win new customers efficiently during marquee Equus caballus racing moments,” DraftKings CEO and Chairman Jason Robins said. “Due to the bodily structure of the agreement, we expect this unexampled product offering to live forthwith profitable.”

US Equus caballus racing is a pari-mutuel wagering product that has a set takeout based on the data track and the wager. ADWs, same TwinSpires, donjon a deal of the takeout.

Convergence of Horse Racing and Sports Betting

With the declaration Tuesday, Churchill Downs at present has affiliations inwards put with the 2 largest online sports betting operators inward the county. FanDuel and DraftKings calculate for roughly two-thirds of the gross gaming revenue of all US online sportsbooks, according to research before this year from Eilers & Krejcik Gaming.

Back inwards September, Winston S. Churchill Downs and FanDuel reached a deal that gave the Flutter brand non-exclusive sports betting sponsorship rights to the Bluegrass State Derby. FanDuel, which already has an ADW program powered past TVG, but its trade with John Churchill would tolerate FanDuel to bid pari-mutuel racing on its sports betting app.

Carstanjen announced in Aug that Sir Winston Leonard Spenser Churchill would pursue relationships with multiple online sportsbooks. He and other company leaders escort that as a right smart to acquaint Equus caballus racing to a larger audience already engaged in a similar activity.

For the sportsbooks, partnering with Sir Winston Leonard Spenser Churchill provides them with a link to the biggest event inwards racing. The KY Derby alone generated a book hold of $179 trillion this year, and the full 14-race scorecard for the first of all Sat in May produced a $273 one thousand thousand handle.

Churchill’s not solo among racecourse operators in pursuing deals with sports betting operators. In October, the Stronach Group’s 1/ST Technology inked a business deal with PointsBet to make grow an ADW platform that would live structured into the Australian-based sports betting apps licensed inwards US states.