New Partnership Will Allow DraftKings to Offer Bets on SailGP

Sailing fans in the US will soon have a chance to bet on their favorite sport.

SailGP has announced a new partnership with DraftKings Sportsbook to open up betting on the league’s races. The sports betting giant will be the only US operator to offer odds for the league, while bet365 Sportsbook will handle international markets.

The new partnership is part of a broader effort by SailGP to expand its fan base. The league saw a massive bump in ticket sales and TV ratings earlier this year and is hoping to capitalize on that momentum.

"It's a sport that's naturally built for sports betting and gaming onsite in person at the events," Chief Revenue Officer Ben Johnson said in an interview. "It's communal; it's high speed; there are lots of different winners, event-to-event."

The league features 12 co-ed international teams competing in events across the world. They race using F50 foiling catamarans. Seven crew members are on the boat during the race, with at least one reserve and a coach remaining on land. 

Betting will be available at DraftKings starting with the Mubadala New York Sail Grand Prix this weekend.

Deal Marks Win for DraftKings

DraftKings has become one of the two largest sports betting operators in the US, along with FanDuel. The two rivals combine to own over 80% of the US market share, meaning they don’t need to do much to compete with 99% of the industry.

The lack of competition allows DraftKings to focus on getting an edge on FanDuel. While SailGP isn’t a major sport in the US, it could still end up giving the sportsbook a boost in revenue. The league tends to appeal to many of the country’s wealthiest residents, meaning larger bets are likely to be placed. 

Should SailGP continue to grow in the US, it could lead DraftKings to finally overtake FanDuel as America’s favorite sportsbook.