Online dominator DraftKings has upped its bid to crack New Wave iGaming (NWiG), aka predictions markets.
The Massachusetts-origin iGaming pioneers has just signed a new agreement with CDNA, the North America Derivatives vertical of global crypto exchange, Crypto.com.
DraftKings–the second biggest online sportsbook in North America–cut its membership of the American Gaming Association at the end of last year and entered the NWiG space by connecting with the Chicago Mercantile Exchange (CME Group) and launching its very own DraftKings Predictions app on December 19.
This new deal with CDNA will allow DraftKings Predictions to offer player-specific “bids” or “asks”–essentially bets–for both the headline NFL (National Football League) and NBA (National Basketball Association), it’s reported.
The Goal Beyond
The first-phase rollout with CDNA will also enable DraftKings Predictions to add bets across soccer, MMA, golf, boxing, tennis, and the Olympic Games in the 38 states where the app is available.
“We’re continuing to build momentum behind DraftKings Predictions by leveraging our expertise across sports and technology and integrating additional CFTC-regulated exchanges like Crypto.com,” said Jeanine Hightower-Sellitto, Senior VP and GM of DraftKings Predictions.
“This collaboration meaningfully expands customer access to trade on sports and a broader range of prediction markets and also reinforces our focus on delivering a more comprehensive and engaging experience as the product continues to evolve.”
DraftKings said the agreement also establishes a framework for the introduction of new event contract categories over time, including culture, entertainment and politics.
Milestone
As part of its wider roadmap, the operator confirmed that DraftKings Predictions will integrate Railbird Exchange in the coming months, adding another regulated exchange connection to its ecosystem.
DraftKings Predictions allows eligible customers to make predictions through federally regulated event contracts, including sports event contracts offered in states such as California, Florida, Georgia, and Texas, the company explained in a media statement, announcing the Crypto.com tie-in.
The “product”, stressed DraftKings, “is positioned separately from the company’s sportsbook and iGaming casino offerings”.
Travis McGhee, Global Head of Predictions at Crypto.com, commented: “We are thrilled to work with DraftKings, and we look forward to creating an engaging experience together for customers across the country.
“[We] continue to lead the way with innovative collaboration.
“Connecting with DraftKings, a household name in sports, is an important milestone for us because it allows us to not only expand access to prediction markets in sports, but it grows our distribution to prediction markets on cryptocurrencies, financials, companies, politics, culture, entertainment and beyond.”
