Estimated Reading Time: 2 minutes
DraftKings Sportsbook recently announced a partnership deal with the NBA’s Philadelphia 76ers. The multi-year agreement sees DraftKings become the team’s official betting partner and daily fantasy sports (DFS) operator. It also allows the bookie to use the 76ers’ logo and trademarks as well as other branding options.
The 76ers have a deal already in place with Fox Bet, which means DFS is the only exclusive portion of the deal. DraftKings, an official NBA betting partner, has similar arrangements with the Boston Celtics and Indiana Pacers.
“The NBA represents DraftKings’ second-most-popular sport, and we are thrilled to offer our fanbase a continually unique and authentic sports gaming product,” said Ezra Kucharz, chief business officer at DraftKings.
“Each of these partnerships represents a common strategy and stresses the importance of NBA teams and DraftKings’ place on fan engagement and overall customer experience.”
DraftKings will work with the 76ers on a variety of marketing and promotional opportunities. There are also other offerings more geared towards the Philadelphia market. For example, VIPs will be able to take advantage of the Court of Dreams promotion, which offers people an in-depth look at the Philly training complex. They will also have access to 76ers season tickets and suites at the Wells Fargo Center.
Chris Heck, president of the 76ers, said the deal with DraftKings “marks a new, exciting chapter in the long-standing relationship between two of the sports industry’s most innovative companies.” He added that the team is “raising the bar” again when it comes to sports betting partners.
“The 76ers are proud to continue to stand alongside DraftKings as we together create and amplify expanded and differentiated opportunities for fans to engage with our team, dynamic players and sport,” Heck said.
While the deal is with the Philadelphia 76ers, it also extends DraftKings’ reach into the New Jersey sports betting industry. The Sixers have a strong following in the Garden State, while the DraftKings mobile betting app is offered in both Pennsylvania and New Jersey.
The deal was announced around the same time the New Jersey Division of Gaming Enforcement confirmed record figures for January sports betting revenue. NJ sportsbooks raked in just under $54 million in revenue last month, nearly tripling the $18.2 million they collected the previous January. That figure does not account for the number of New Jersey DFS customers, many of which have also used other DraftKings products such as their sportsbook and online casino.
According to DraftKings, “About an astounding 40% of all DraftKings bettors have placed a wager on an NBA game.”