US-based DraftKings acquires Ukrainian SBTech betting software developer
On December 23, the US-based company DraftKings that operates in the field of sports betting announced about becoming public company and acquiring SBTech, a provider of betting solutions and services. Rumors about the deal have been circulating in specialized news outlets since June 2019; they plan to finalize the deal within six months.
Deal details
- DraftKings is a daily fantasy sports contest and sports betting provider. The company operates in the U.S. and 8 international markets.
- Before it became possible to bet on real sports in many U.S. states, the segment of fantasy sports (Daily fantasy sports or DFS) developed there. In it, players place bets on virtual teams of real players, the results are calculated based on indicators in real games. In those days, DraftKings and FanDuel were the two largest competitors. Now they are fighting for their position in the open direct sports betting market.
- SBTech develops b2b betting software, as well as virtual casinos and sports platforms for the consumer market. In the b2b segment, it has more than 50 partners in 20 countries, mainly Europe and the Asian region. But SBTech has not been very successful in the U.S. market, writes Onlinepockerreport. Previously, its partner was BetAmerica, whose revenue was 50 times smaller than that of the DraftKings platform.
