DraftKings Inks Deal With Premier Lacrosse League Ahead of Summer Tournament

Posted on: July 16, 2020, 10:11h. 

Last updated on: July 16, 2020, 11:12h.

Todd Shriber @etfgodfather Read More

Expertise: Financial, Gaming Business, Mergers and Acquisitions.

DraftKings will be the official betting partner of the Premier Lacrosse League (PLL) and the association’s lone regulated gaming sponsor, announcing the deal just days before PLL’s summer tournament starts.

DraftKings revealed the agreement Thursday and financial terms weren’t disclosed. The 16-day, 20-game tournament commences July 25 and represents the first PLL action amid the coronavirus pandemic.

Paul Rabil, PLL co-founder and chief marketing officer, said the arrangement with DraftKings could help the lacrosse league appeal to a wider array of fans.

We’re thrilled by their commitment to grow professional lacrosse with us. PLL fans have been hungry to bet on games and that desire’s now a reality,” said Rabil in a statement.

The PLL tournament will be broadcast on NBC, which could help bring new bettors and fans into the fold.

Looking to Shed Obscurity

In the pantheon of highly wagered on sports in the US, lacrosse isn’t there. At least not yet, but the PLL and the rival National Lacrosse League (NLL) are looking to change that.

There is an opportunity for PLL to appeal to bettors as sports offerings are still somewhat limited due to the COVID-19 pandemic. Actually, the PLL’s summer tournament could benefit from good timing because the pandemic is proving bettors have an appetite for obscure sports, including international baseball and table tennis.

In January, MGM Resorts’s BetMGM unit, that company’s partnership with GVC Holdings, announced a betting partnership with the NLL, marking the first sports wagering accord for a domestic lacrosse league. In May, PLL signed a deal with Genius Sports, making that company the league’s official data and integrity partner.

DraftKings and PLL are also working on a proprietary lacrosse data analytics platform aimed at increasing fan engagement. Content from that vertical, including betting lines, will be featured on NBC broadcasts and other media channels throughout the PLL tournament.

Getting Down to Business

News of the lacrosse deal caps a busy stretch for DraftKings. Earlier this week, the company announced launches of standalone casino apps in Pennsylvania and West Virginia, moves to bolster the operator’s footprint in the fast-growing online gaming market. That news comes less than a month after the company debuted a similar offering in New Jersey.

Prior to the Thursday announcement, DraftKings and PLL had some indirect ties via the Raine Group, a private bank and venture capital firm, which is an investor in both the league and DraftKings.

“As part of the agreement, DraftKings will have access to PLL marks and logos including team, league, and jersey marks on all DraftKings platforms and media channels for marketing purposes as well as product lines and offerings,” according to the statement.

All seven PLL clubs play out of Los Angeles. Sports wagering is not yet permitted in California.