Churchill Downs To Partner With DraftKings To Launch New Phone App
Horse racing fans have been left feeling excited about the future after it was announced at the end of November that Churchill Downs Incorporated will partner with DraftKings to develop and launch DK Horse.Â
It is an exciting step for both, as it will finally allow the ability for DraftKings customers to bet on horse racing.
Deal Announced
The deal was announced on November 29, and fans were quickly delighted with declaration. It was announced that the deal between DraftKings and Churchill Downs will be a multi-year agreement, and it will bring pari-mutuel wagering to the sportsbook for horse racing.
It was also announced that would provide advanced deposit wagering technology to DraftKings, which excited fans given that the sportsbook is one of the leaders in the field of horse racing betting in the United States.
There is no set date when DK Horse will be launched, with the press release stating that it will be released in a number of months. But, fans will be hoping that the launch will come in time for the Kentucky Derby, which is schedule to take place on the first Saturday in May 2023.
What Is DK Horse?
DK Horse will be the new home of horse racing betting in the United States for customers at DraftKings. However, customers with existing accounts will need to download a new app to be wagers on the new release, as it will feature its own standalone app. Deposits can then be made through the DK Horse app, and it is expected to feature races from around the United States, as well as racing taking place in Europe and Australia.
It was also announced that while a separate app will need to be downloaded by customers at first, there are plans for the two to integrate at a later date. Plans were also announced that the DK Horse app is expected to launch before the 149th running of the Kentucky Derby, should all licensing and regulatory approvals be granted quickly. The app will launch in 21 states to begin with, before being rolled out to eligible states where betting is legal at a later date.
Perfect Deal For Both
Both Churchill Downs and DraftKings are set to benefit from the landmark deal, as it appears to be a win-win. Churchill Downs will reportedly take a 60-40 split in the revenue, but it gives DraftKings an opportunity to move into the horse racing market. Their ability to offer horse racing odds and take bets will add to the experience of their existing customers, and it will also be an interesting avenue to attract new faces to their site. At present, Churchill Downs is covered by the attractive $200 sign up bonus by TwinSpires, which is available in 21 states and which offers. meaning that while DraftKings is slightly smaller, it does cover more bases.
Churchill Downs will also see this as an opportunity to scale up their betting offerings. It’s likely that TwinSpires will remain the number one choice for many, as that will continue as a standalone app, but DraftKings is already trusted by over 1.5 million players according to latest reports, which means that fresh fans will be able to met on the action.
Unlike many countries across the world, this is a big step forward for horse racing betting in the United States, as sites are gradually merging together the worlds of sports betting and horse racing betting to offer customers a one-stop shop for their betting needs. It promises to be a landmark deal for both Churchill Downs and DraftKings, and it will certainly only whet the appetite for the Kentucky Derby in 2023.