Turner’s Gambling Gamble 🎰

Turner’s Gambling Gamble

In the past, sports gambling was something largely ignored by professional sports leagues. However, that trend has changed in recent years as attitudes towards gambling have changed across the US. Sports gambling is now legal in 19 states and more than 10 could legalize it within the next few years. This has prompted a race to acquire new customers in these states, and sports media companies are trying to use this race to their advantage.

AT&T owned Turner Sports announced partnerships with DraftKings and FanDuel last week. The two companies are big rivals and two of the biggest players in the growing online betting market, but this deal could be a big boost for all parties.

Turner will integrate FanDuel and DraftKings lines into content on platforms like Bleacher Report, TBS and TNT and will link customers to the sites. This will increase bettor traffic for the sportsbooks and bring in cash through referral fees for Turner, which is also hoping to use betting to increase fan engagement with its content.

The partnership is a big deal for the companies involved and is symbolic of a larger trend in the gambling world. A legacy media company working with a sportsbook may have been unlikely years ago, but now it is common in the sports world. Keep an eye on the battle between FanDuel and DraftKings and others to see which companies can gain significant market share in new states.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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