US sports betting operators DraftKings and BetMGM have deepened their ties to pro sports franchises in Chicago and Detroit, respectively.
On Thursday, DraftKings announced a deal to become the Official Sports Betting and Daily Fantasy Sports Partner of Major League Baseball’s Chicago Cubs. The multi-year deal comes with the usual branding and marketing opportunities, but the real opportunity for DraftKings takes on a more physical form.
The new partners say they have “a plan to pursue a first-of-its-kind sportsbook” at the Cubs’ Wrigley Field ballpark that will offer “a best in class entertainment experience for sports fans in Illinois.” The deal will also allow online betting access for fans within a five-block radius of the stadium.
There are a few caveats to this plan, because while Illinois has a legal betting market, a new retail sportsbook will require the City of Chicago’s approval. Given the traditionally slow pace of civic politics, this process could take a few years — by which time the pandemic panic may have lifted and Wrigley will actually allow fans inside its doors — although Cubs’ ownership will likely lean on city pols to get a move on. The new sportsbook will also require payment of a $10m betting license from the Illinois Gaming Board.