DraftKings recently announced its acquisition of Dijon Systems, a subsidiary of Mustard Golf, to bring its golf pricing in-house and expand its coverage of the sport.
DraftKings Spices Up Golf With Dijon
In an effort to improve its golf pricing models and expand its coverage of the sport, Boston-based sports betting operator DraftKings has announced the acquisition of Dijon Systems, a golf pricing technology that the company plans to integrate into its platform.
The new technology will allow DraftKings to bring a wider variety of golf betting options to its golf betting menu and will be used to complement the technology DraftKings currently has in place, bringing a more robust betting experience to its customers.
“Golf betting continues to gain traction amongst our players, and adding Mustard Systems’ golf technology and its talented golf team will only sharpen our edge in creating an expansive and dynamic golf product offering. This deal strengthens our ability to innovate in the golf space and provides us with an opportunity to deliver fresh and exciting options for golf fans,” DraftKings’ Chief Revenue Officer Greg Karamitis said in a news release.
The new technology that will be implemented in DraftKings’ golf algorithm will also allow what will likely be an enhanced live-betting experience. DraftKings has been working to improve its in-play betting feature, which has become a burgeoning sector of the online sports betting market.
Live Betting Improvements
In August, DraftKings announced it had acquired Simplebet Inc., a micro-betting software provider, that was purchased to improve the company’s live-betting features.
Corey Gottlieb, DraftKings’ chief product officer, stated, “Live betting represents an area for potential growth for online sports betting, and the proposed acquisition would allow DraftKings to leverage Simplebet’s proprietary technology to create an in-play wagering experience that moves at the speed of sports. And while we continue to elevate our product offering in this space, we are also committed to building technology that supports our robust consumer protection standards.”
Betting Revolution
There was a time when the only sports wagers that could be made were of the pre-match variety but as more bettors become accustomed to betting during the game, the sector has grown and the technology needs to be able to keep pace with the games. Customers who get shut out of their in-game wagers will soon search for an alternative. It is because of this that DraftKings has begun improving its own technology and has purchased Simplebet and Dijon to make it a market leader in that realm.
The endgame is to attract more business, increase its hold (win rate), and ultimately overtake FanDuel as the industry leader. Speaking at the Bank of America 2024 Gaming and Lodging Conference, DraftKings CEO Jason Robins addressed cutting into FanDuel’s 51% market share.
“I’ll probably eat my words saying this, but we feel almost a virtual certainty that we can achieve that because we have a clear line of sight and we know looking at FanDuel what they’ve been able to get to,” Robins said. “I do think we have a lot of upside there. How quickly it will materialize, we’re going to be careful on overpromising, but I think we have a clear path and line of sight of what we need to do to get the hold rate up by nearly 100 or 200 basis points if not more.”
Calculators
