DraftKings Boosts Golf Betting Odds with New Acquisition

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00:00So let's get the very latest on DraftKings. They get some updated odds-making ability

00:08from a new company that I have not heard of. You'll have to tell me who they are, but specifically

00:13this is surrounding golf. So I'm guessing PGA Tour, Live Golf to help them with some

00:18of their pricing.

00:19Yeah. So this is actually, Mustard Golf is a syndicate. They bet on golf and they now

00:26sell their models and their pricing models and everything to outside companies. And DraftKings

00:31went in and snapped them up. Eilers and Krejcik said it was relatively low priced at around

00:3520 million in cash. And they went back and did some of the math off of, you know, if

00:41they just, you know, add this much in golf betting, it'll pay it off. So it seems like

00:45it's a pretty good deal all around for DraftKings. It seems like it's a good deal for people

00:50that want to bet golf. And betting golf is not where we thought it would be just yet,

00:56right? Golf was one of those sports that we looked at when sports betting was legalizing

01:00and we saw it kind of like a tennis where you could have action on just about everything

01:05that happens. And it had the upside against tennis, whereas, you know, that next shot

01:10isn't coming as quickly as the next serve in tennis, right? But we just haven't seen

01:15golf really break out as something that the mass market better is latching onto. That

01:20could change if DraftKings brings mustard systems in and they really add markets that

01:27people are interested in, you know, start seeing same match parlays for golf or same

01:34round parlays, whatever it may be. You know, there could be a couple of different ways

01:38that they take this. But it's interesting to me that DraftKings is jumping into one

01:43of the smaller sports. Like I just said at the beginning, Craig, companies are starting

01:48to try to find money elsewhere and they see that golf is a little lower than it could

01:52be. Well, let's take a gamble. Let's spend $20 million on this. See what happens. And

01:56you know, it looks like just the way that it fits in right now, it looks like it should

02:00be a pretty good deal, Craig.