What happened
DraftKings (DKNG 8.11%) announced Thursday that it will start to deliver live-streaming video of sports events through its Sportsbook app. The company is partnering with athletic-content specialist Sportsradar on the project. It didn't provide the financial particulars of the arrangement.
So what
At least initially, the content provided won't be top-shelf U.S. pro sports. DraftKings is starting out with international offerings such as Bundesliga soccer from Germany and the Korea Baseball Organization. All told, around 100 leagues in various sports will be available within the app.
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DraftKings said that its customers who are logged in to the app and have a positive "wallet" balance can access this content. It's available to people located in every state except for Iowa; it didn't specify a reason for this exception.
"Live streaming by legal sports betting operators has become increasingly popular in Europe and around the world," DraftKings wrote in the press release trumpeting the deal.
Sports companies abroad offer live betting on many aspects of sports contests -- for example, whether a particular soccer player will be penalized with a yellow or red card during the game.
Now what
For DraftKings, the new push is just the beginning of a wider streaming effort, saying that, "as additional sports leagues return to resume play, DraftKings Sportsbook will explore potential expansion opportunities of the live-stream functionality." Investors will likely welcome this, especially if the live streaming helps boost the company's financials.
