DraftKings Sportsbook is doubling down on its golf presence, with its latest acquisition set to dramatically reshape how it prices the game for those betting on the links.
DraftKings confirmed Monday via press release that it had acquired Dijon Systems Limited, a subsidiary of Mustard Systems which owns and operates its golf pricing business, Mustard Golf.
“Golf betting continues to gain traction amongst our players and adding Mustard Systems’ golf technology and its talented golf team will only sharpen our edge in creating an expansive and dynamic golf product offering,” said Greg Karamitis, chief revenue officer at DraftKings. “This deal strengthens our ability to innovate in the golf space, and provides us with an opportunity to deliver fresh and exciting options for golf fans."
Notably, the deal will put DraftKings in a position to bring its golf pricing capabilities in-house thanks to Mustard Golf's position as a leading supplier of golf betting models and pricing.
Additionally, DraftKings claims the acquisition provides opportunities for a more robust betting system, with new data models enabling an expanded golf offering currently in the works. However, the company has not released specifics on what that may entail.
Live betting at the forefront for DraftKings
The DraftKings and Mustard Golf deal should theoretically improve and upgrade the former's live betting offerings, something that DraftKings has made concerted efforts toward in recent months.
In August, the company acquired Simplebet Inc. with plans to incorporate the microbetting provider's offerings, particularly those around live betting, into its existing platform.
“Live betting represents an area for potential growth for online sports betting, and the proposed acquisition would allow DraftKings to leverage Simplebet’s proprietary technology to create an in-play wagering experience that moves at the speed of sports,” Corey Gottlieb, DraftKings' chief product officer, said at the time. “And while we continue to elevate our product offering in this space, we are also committed to building technology that supports our robust consumer protection standards.”
DraftKings' CEO Jason Robbins has also been on the record stating that the company would focus its efforts on the medium in the hopes of catching FanDuel, the current market leader in the online sports betting space. With the NFL season well underway, now appears to be an opportune time for DraftKings to make a push given the NFL’s outsized influence on betting market activity.
“I do think we have a lot of upside there,” Robbins shared at a conference last month. “How quickly it will materialize, we’re going to be careful on overpromising, but I think we have a clear path and line of sight of what we need to do to get the hold rate up by nearly 100 or 200 basis points if not more.”
