Just in time to make the perfect holiday stocking stuffer, DraftKings (NASDAQ:DKNG) is introducing its own branded gift card in what it says is an industry first.
The fantasy sports and sports betting leader is partnering with InComm Payments to have $25 and $50 gift cards for sale in the payment technology company's network of convenience stores that includes chains like 7-Eleven, Sheetz, and Speedway, but also in pharmacies and general merchandise retailers such as Dollar General.
Consumers will be able to use the gift cards to fund their DraftKings accounts.
Leading the charge
As sports betting comes to more states, DraftKings is seeking to expand its presence. It is one of the two biggest sportsbooks in the country, routinely coming up against Flutter Entertainment's (OTC:PDYPF) FanDuel rival sportsbook. Flutter is the world's largest bookmaker and also owns Paddy Power, BetFair, and The Stars Group, the owner of PokerStars.
By introducing a gift card available at major c-store locations, DraftKings will be able to significantly expand its brand recognition.
Tim Richardson, InComm's senior VP, said in a statement, "This agreement not only offers consumers a great gifting opportunity, but also represents a significant brand expansion and enhancement opportunity for DraftKings who, for the first time, will benefit from having its brand present in tens of thousands of InComm Payments' retail partner locations across the U.S."
DraftKings already accepts the use of prepaid cards and gift cards from Visa, Mastercard, and American Express to fund an account.