DraftKings Boosts Its Mixed Martial Arts Betting With a Big UFC Deal

Expanding its presence in the world of flying fists and grappling moves in a major way, sports betting and fantasy sports company DraftKings (NASDAQ: DKNG) is launching a partnership with the UFC MMA organization. Fans of the combat sport will soon be able to place bets on UFC fights if they live in states where sports betting is legal. DraftKings also offers fantasy sports services everywhere.

An inside source speaking to ESPN said DraftKings is paying handsomely to secure its alliance with UFC, with a cash outlay in the "low nine figures," or at least $100 million. The same source also stated the entire partnership, if marketing is added in to DraftKings' payment to the MMA organization, is valued at approximately $350 million.

Image source: UFC, DraftKings.

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Source Fool.com