DraftKings Acquires Mustard Golf

DraftKings has made another significant move in the sports betting industry by acquiring Mustard Golf, a subsidiary of Dijon Systems. This acquisition brings golf pricing capabilities in-house, allowing DraftKings to offer an expanded, more dynamic golf betting experience to its growing audience of golf enthusiasts. As golf betting continues to gain traction, this deal sets DraftKings apart by offering fresh innovations and enhanced live betting options.

DraftKings Acquires Mustard Golf, Strengthening In-House Golf Pricing and Betting Offerings

In its latest strategic acquisition, DraftKings has acquired Mustard Golf, a UK-based pricing business and subsidiary of Dijon Systems, to further expand its golf betting capabilities. Although the financial terms of the deal were not disclosed, the acquisition positions DraftKings to offer a more robust and differentiated golf product for its players. By bringing Mustard Golf’s pricing technology and expertise in-house, DraftKings strengthens its ability to deliver an enhanced betting experience, particularly in the rapidly growing live betting space.

Key Points:

1. DraftKings Acquires Mustard Golf: The acquisition brings DraftKings the opportunity to strengthen its in-house golf pricing capabilities and enhance its live betting offerings.
2. Expansion of Golf Betting Options: Mustard Golf’s advanced data models and live betting expertise will allow DraftKings to introduce new golf betting markets and expand existing offerings.
3. Ongoing M&A Strategy: This acquisition follows DraftKings’ other recent purchases of Sports IQ Analytics and SimpleBet, aimed at solidifying its pricing and analytics capabilities.

Greg Karamitis, Chief Revenue Officer of DraftKings, commented on the acquisition: “Golf betting continues to gain traction amongst our players, and adding Mustard Systems’ golf technology and its talented golf team will only sharpen our edge in creating an expansive and dynamic golf product offering. This deal strengthens our ability to innovate in the golf space and provides us with an opportunity to deliver fresh and exciting options for golf fans.”

Enhanced Live Betting Capabilities

One of the most significant advantages of this deal is the extensive live betting experience that Mustard Golf brings to the table. As live betting gains popularity, particularly in the US sports betting market, DraftKings aims to leverage Mustard Golf’s data models and live trading capabilities to broaden its offerings and enhance the overall customer experience.

According to a recent report by JMP Securities, live betting is expected to experience rapid growth in the US market. By acquiring Mustard Golf, DraftKings positions itself to capitalize on this growth, providing players with more competitive pricing and an expanded range of golf bet types, including advanced options for live play.

Boosting DraftKings’ Golf Offerings

The acquisition of Mustard Golf enables DraftKings to enhance its golf betting products significantly, providing deeper coverage of tournaments, additional betting options, and real-time pricing innovations. With Mustard Golf’s data models integrated into DraftKings’ platform, players can expect a richer and more diverse golf betting market, offering a more engaging experience for golf fans.

Well-known industry figure Matthew Trenhaile commented on social media that Mustard Systems had previously acted as the market maker for golf betting on Flutter-owned Betfair, a role that is now likely to cease with the acquisition. This move indicates DraftKings’ ambition to become a leader in golf pricing and market creation, offering its players a truly competitive product.

Broader Impact on the Sports Betting Market

This acquisition is part of DraftKings’ ongoing strategy to optimize its in-house pricing and analytics capabilities. Earlier in 2024, DraftKings acquired Sports IQ Analytics and SimpleBet, both of which specialize in data analytics and real-time pricing solutions. These acquisitions reflect the company’s broader vision of becoming a market leader in sports betting technology and innovation.

According to a recent report from Truist Securities, DraftKings has consistently offered more competitive pricing than many of its rivals, alongside FanDuel. With the acquisition of Mustard Golf, DraftKings is set to further improve its pricing capabilities, especially in the golf sector, where live betting and dynamic pricing will play a critical role in attracting and retaining players.

The acquisition of Mustard Golf marks another important step for DraftKings as it continues to strengthen its in-house pricing capabilities and expand its golf betting offerings. With enhanced live betting options and the ability to introduce new golf markets, DraftKings is poised to offer a more dynamic and engaging golf betting experience for players. As golf betting continues to gain popularity, this acquisition positions DraftKings as a leader in the space, ready to deliver innovative solutions to its growing user base.