The Chicago Cubs and DraftKings have reached a huge deal that will bring a retail sportsbook to Wrigley Field or the surrounding Wrigleyville area. Financial details of the partnership were not immediately revealed, but this is a multi-year partnership.
This deal also marks the first time in Major League Baseball history that a sportsbook will be offered by an MLB team. Betting windows and self-serve kiosks will be available for sports betting customers to use, and a DraftKings lounge will also be a part of the sportsbook.
Along with the new sportsbook, DraftKings now becomes the official sports betting and daily fantasy partner of the Chicago Cubs. It is unclear if the two will share revenue from the sportsbook, but this is expected to be a huge revenue generator.
The exact location for the new sportsbook has not yet been announced, but the Cubs did announce that there was some extra space available inside of Wrigley Field.
Several Hurdles to Climb
There is no specific timeline for the new sportsbook, and the Cubs will have to overcome several hurdles before moving forward. DraftKings will first have to apply for a master sports wagering license with the Illinois Gaming Board.
The Cubs and Wrigley Field will have to apply for developmental approval with the City of Chicago before anything can be built. Details of where they plan to build the new sportsbook will be included with that application.
DraftKings Already in Illinois
DraftKings Sportsbook is already offering both mobile and retail betting in Illinois through a partnership with the Casino Queen in East St. Louis. Retail betting was the first to launch earlier this summer, but the company was able to get their mobile sports betting app out in August.
When DraftKings Sportsbook first launched its mobile app, customers were forced to head to the Casino Queen to complete the registration requirements. Governor JB Pritzker once again removed that in-person registration requirement, and customers have been able to sign up through the app.
DraftKings was expected to be kept in the “penalty box” in Illinois for 18 months, but it found a way around the law by partnering with a land-based casino.
MJ Becomes New Adviser
Earlier this week, DraftKings announced that Michael Jordan is a new special adviser to the company. Jordan has been interested in getting involved in the sports betting industry and felt that this was the perfect time to join the DraftKings team.
For his services, the Chicago Bulls legend will receive an equity stake in the company and could eventually own more shares of the company in the coming years. DraftKings will not only use Jordan as an adviser but will also promote him as being one of the members of their team.
With Illinois set to become a huge player in the sports betting industry, the fame and popularity of Michael Jordan should allow DraftKings to become a considerable force in the Illinois market.