DraftKings has expanded its DFS deal with the NFL north of the border in a move that could boost the operator’s profile ahead of legal sports betting in Canada.
The NFL and DraftKings first partnered back in September 2019 with DraftKings named the exclusive DFS sponsor of the league.
As part of that agreement, DraftKings gained access to NFL branding and content opportunities across the DraftKings app and NFL Media.
That partnership was for the US only but has now been expanded to the Great White North.
Is DraftKings focused on DFS or betting?
“The relationship we share with the NFL is important for DraftKings to provide customers a great experience,” said Ezra Kucharz, chief business officer at DraftKings.
“This expanded agreement gives us a unique opportunity in the Canadian market. We look forward to working with the team at the NFL Canada as we continue to shape the modern fan experience.”
A quote from the NFL also spoke about the growing popularity of DFS in Canada. But it’s hard to look past Canada sports betting as the key driver for the new deal.
Momentum for Canada sports betting
The Canadian government is bidding to end the federal ban on single-game sports betting. And the province of Ontario plans to end its lottery-run monopoly on online gambling. That would allow private operators into the market.
Ontario alone would be equal to the fifth-largest state in the US with 15 million citizens. Toronto-based TheScore estimated a market potential in Ontario of $1.5 – $2.1 billion in annual gross gaming revenue.
The market could be live by the second half of 2021, TheScore said.
Just as DraftKings built up an audience in the US via DFS, it can now gain a similar head-start in Canada sports betting. All told it’s been a good news week for DK. The company’s stock jumped more than 10% following an investment from one superstar stock picker.