Golfers have been betting on the course with other members of their foursome for ages. Now PGA Tour spectators will have their own sportsbook to place bets at a PGA Tour event for the first time. The PGA and DraftKings (NASDAQ:DKNG) today announced they will expand their partnership to include a retail sportsbook beginning with the TPC Scottsdale -- site of the Waste Management (NYSE:WM) Phoenix Open -- in 2023.
On Monday, the Arizona legislature cleared the path by authorizing gaming on fantasy sports and sports betting pending the expected signature of Governor Doug Ducey. The legislation allows mobile- and retail-sports betting but also gives professional sports leagues the ability to open on-site retail betting shops.
The retail-betting space will operate like other sportsbooks, allowing bets on all sports without being restricted to just the PGA event. DraftKings' Chief Business Officer Ezra Kucharz said in a statement: "This momentous effort to pursue a first-of-its-kind sportsbook with the PGA TOUR is a testament to the vision of both organizations that we believe will ultimately benefit Arizona sports fans who want to legally bet on sports."
The sportsbook will be available at TPC Scottsdale year round as a "19th hole" for sports fans to bet, watch sports, and eat and drink.
DraftKings is already the official daily fantasy game and an official betting partner of the PGA Tour. The new agreement makes DraftKings the exclusive sports-betting partner of the annual Waste Management Phoenix Open, and allows for co-marketing initiatives and exclusive hospitality experiences sponsored by both.