DAZN Finds Sports Betting Partner

Two Laptops Showing Sports in Front of a Pile of Money
After missing out on a deal with BT Sport, DAZN finally has a sports betting partner. The British streaming service will partner with Pragmatic Gaming to operate its sportsbook. According to the press release, the companies plan to launch their product later this year.

The two European companies team up for what will be a one-of-a-kind product. DAZN will continue to offer subscribers access to live sporting events. However, Pragmatic Gaming will offer live betting during streamed events. The new sports betting product will be called DAZN Bet.

Before they can start taking bets, Pragmatic Gaming will need to secure sports betting licenses. DAZN plans to offer live betting in every country it streams to. That means Pragmatic Gaming, which is based in Gibraltar, will need secure sportsbook licenses across Europe and in the US. Roll out of the product is expected to be slow to allow for customer input.

What Is DAZN Streaming Service?

DAZN is an over-the-top (OTT) streaming service based in London. The subscription-based service allows customers to view a variety of live sporting events. They also offer original content and on-demand features. It quickly spread to Japan, Austria, Switzerland, and Germany. In 2018, DAZN was launched in the US.

To provide its content, DAZN partners with sports leagues and media companies. For instance, DAZN partnered with the NFL to provide out-of-market games in Canada. They also signed a five-year streaming rights deal with Bellator in 2018. DAZN also has deals with the MLB, boxer Canelo Álvarez, and others.

After building a customer base in select markets, DAZN eventually launched in over 200 countries in December 2020. In March 2021, Kevin Mayer replaced John Skipper as chairman after Skipper stepped down to focus on other projects. Mayer previously worked as a Direct-to-Consumer and International executive at Disney. He is also a former CEO of the popular TikTok mobile app.

DAZN Announces Partnership with Pragmatic Gaming

Part of DAZN’s business plan always included finding a sports betting partner. The OTT streaming service had a deal to purchase BT Sport, but it fell through unexpectedly. BT Group entered into an exclusive deal with Discovery INC., and DAZN was left without a sportsbook operator.

Luckily for sports betting fans, the newly launched Pragmatic Gaming was able to step in. The Gibraltar-based sports betting operator will operate the gaming component of DAZN Bet. DAZN plans to be the first company to combine OTT streaming services with live betting.

The deal is simple. DAZN will handle all of the streaming responsibilities. Meanwhile, Pragmatic Gaming will be completely in charge of the sports betting operations. That includes developing the initial sportsbook and any further updates as needed. Securing sports betting licenses will also fall on the shoulders of Pragmatic Gaming.

When Will DAZN Bet Be Available in the US?

The new deal is exciting, but it will take time to put all the pieces into place. While Pragmatic Gaming focuses on obtaining sports betting licenses, DAZN needs to rebuild. The streaming service took a major hit during the pandemic.

During the peak of the pandemic, DAZN lost millions because there were no sports to broadcast. The company was able to survive thanks to money from its broadcast agreements. DAZN also received financial help from its parent company, Access. Now that it is back on its feet, DAZN will prepare for an expansion into sports betting.

According to the press release, DAZN Bet should be ready to launch by the summer. There is no exact date for the launch yet as Pragmatic Gaming is still acquiring sports betting licenses. The global launch would include the US. DAZN Bet will include both free-to-play and real money betting options.

Conclusion

DAZN executives have expressed their belief that sports media and betting are destined to combine into one. The new partnership with Pragmatic Gaming brings them one step closer to that reality. If the summer launch goes as planned, it will be a major win for both companies.

There is still plenty of work for both sides to do before the launch can happen. DAZN was hit hard by the pandemic and is still recovering. However, the worst seems to be behind the London-based streaming service. DAZN can now focus on launching the first OTT with live betting included.