DraftKings Keeps Betting on Itself

If there's a way to reach the perfect audience of gamblers there's a good chance that DraftKings (NASDAQ: DKNG) is either already there or hanging out nearby ready to pounce. The popular provider of fantasy sports games and live sports wagering is acquiring Vegas Sports Information Network (VSiN), a broadcasting platform and content creator for the betting industry. 

Terms of the deal haven't been disclosed, but it's easy to see why this is a smart move. DraftKings currently offers mobile or retail sports betting in 14 different states, and that will continue to grow with the expansion of legal wagering on live events in this country. Between its fantasy sports contests and its sportsbook businesses it will be reaching the ideal demographic group with VSiN viewers. DraftKings should also help expand the visibility if not distribution of VSiN itself. There are winners and losers in most wagers, but this is one bet where both parties come out as victors. 

Image source: Getty Images.

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Source Fool.com