DraftKings, NYRA strike Saratoga sponsorship deal

DraftKings to sponsor Saratoga
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DraftKings and the New York Racing Association have forged a deal that will make the sportsbook an official betting partner of Saratoga Race Course.

The agreement is an expansion of a separate agreement between the two companies last year, when DraftKings was the presenting sponsor of the Jim Dandy Stakes at Saratoga. DraftKings will now be an official betting partner of the Belmont Stakes Racing Festival, which is being held at Saratoga this year while NYRA’s Belmont Park is being renovated, as well as the presenting sponsor of the Grade 1 Travers Stakes, be broadcast on FOX on Aug. 24.

The sportsbook’s horseracing betting app DK Horse, a standalone app available in 20 states that allows eligible customers access to pari-mutuel wagering on domestic and international racing, will be the presenting sponsor of the Grade 1 Acorn Stakes.

“Bringing DraftKings and DK Horse back to Saratoga for a second consecutive year is a tremendous honor,” said Christopher Cipolla, general manager for horseracing at DraftKings. “Having our branding present throughout the summer at one of the most beautiful and well-attended racetracks in all of the world and being named the presenting sponsor of this year’s Travers and Acorn further cements our commitment to the sport of horse racing.”

The Saratoga racing season runs from July 11 through Sept. 2 and DraftKings signage will be prominently displayed at the course starting in June.

NYRA operates its own betting app, NYRA Bets, and it has agreements with several other sportsbook operators to provide betting services for their racing operations, including BetMGM and Caesars Sportsbook. Now, it has added DraftKings to its portfolio of partners.

“DraftKings is a premier brand within the rapidly growing sports wagering marketplace, and this arrangement will help to introduce world-class racing to a wider audience of fans and bettors,” said Tony Allevato, NYRA Chief Revenue Officer. “This will be a tremendously exciting year at Saratoga Race Course, and we thank DraftKings for supporting New York horse racing.”

DraftKings continues 2024 dealings

In February, DraftKings agreed a deal to acquire digital lottery supplier Jackpocket in a transaction that is set to be worth $750m.

Last month, the sportsbook announced an expanded partnership with Kindbridge Behavioral Health to provide therapy and treatment for problem gambling in all operational sports betting and iGaming markets, an extension of a pilot program launched in Colorado in 2023.

This partnership with Saratoga is one of the first moves made by DraftKings since the company announced its Chief Financial Officer Jason Park will become the company’s Chief Transformation Officer starting May 1.

There are whispers that DraftKings’ biggest move could still lie ahead. Rush Street Interactive is reportedly exploring a number of options including a potential sale, and DraftKings has been touted as one of the prospective buyers. Neither DraftKings nor RSI have directly addressed the talk.