DraftKings buys lottery app Jackpocket for $750million

This service will cost DraftKings $750 million to acquire. And that could result in even more overlap between traditional lottery tickets and the sports betting, fantasy sports, and casino services that DraftKings provides. Additionally, there might be increased direct and sponsored promotion of traditional lotteries on DraftKings' media platforms. A few quotes from the press release are as follows:

It's interesting to note that there has historically been greater overlap between lotteries and sports betting in Canada, where provincial lotteries have long been the only establishments authorized to offer the majority of sports betting.

 

[gwolf666]

DraftKings has acquired a service for $750 million, increasing the overlap between its sports betting, fantasy sports, and casino services with traditional lottery offerings. This deal may also lead to more promotion of lotteries on DraftKings' media platforms. Historically, in Canada, provincial lotteries have been the primary establishments allowed to offer most sports betting, which highlights the existing connection between lotteries and sports betting in the region.