DAZN is planning to launch a new sports betting offering in collaboration with Pragmatic Group. [Image: Shutterstock.com]
Not too long to wait
The popular sports streaming company DAZN is getting into the sports betting space. On Wednesday, DAZN revealed a new partnership with betting supplier Pragmatic Group to create DAZN BET. The soft launch date for the offering is in August, at the beginning of the 2022-2023 European soccer season. There will be both real money and free to play options.
Pragmatic will provide the sportsbook product and content
The new sports betting operation will have its headquarters in Malta and plans to launch in numerous regulated jurisdictions. Pragmatic will provide the sportsbook product and content through an exclusive multi-year agreement. It will also take responsibility for ongoing betting product development through the licensing agreement that leverages the existing DAZN customer base.
Jumping on a trend
The goal of the upcoming DAZN sports betting offering is to offer an integrated, convenient, and fun experience for casual bettors that they can enjoy alongside DAZN’s live streaming. DAZN emphasized the ongoing trend of recreational in-play wagering.
DAZN CEO Shay Segev believes that there is a strong future in pairing betting and sports media. He said that the new sports betting brand “underscores DAZN’s commitment to revitalize the sports viewing experience by offering a broader spectrum of digital entertainment for fans.”
Pragmatic launched its own B2B sportsbook product only a few weeks ago and has reportedly already received interest from a number of operators.
Speaking about partnering up with DAZN, Pragmatic Solutions chief executive Ashley Lang said: “We know that fans want more integrated, immersive, and interactive experiences, and through our exclusive partnership with DAZN, we can deliver this.”
An experienced team
DAZN’s management team has experience in the gambling space. Shay Segev came on board as the DAZN CEO in January, having formerly been the chief executive of leading UK gambling group Entain. A number of other former Entain executives are also a part of DAZN. Last year, DAZN co-founder James Rushton spoke about how the company was looking at ways to increase revenue through the likes of sports betting, commerce, and fantasy sports.
DAZN currently offers its video streaming service to customers in over 200 countries and territories.
DAZN has about 15 million subscribers around the world. However, it is currently not profitable, largely due to the billions it has spent on acquiring sports rights. One of its most notable deals was a five-year agreement in 2018 with Mexican boxer Canelo Alvarez which was worth at least $365m. At the time, it was the highest-valued contract that a company had with a single athlete.