Skip to main content

DraftKings Purchases Sports IQ Analytics

Sean Tomlinson

Last Updated: May 10, 2024 12:32 PM EDT • 1 min 13 sec read.

DraftKings has experienced surging growth, and now, one of our best sports betting apps is using that revenue to invest in its product.

Recently, DraftKings purchased Sports IQ Analytics, a Vancouver-based oddsmaking and player prop provider. Sports IQ is widely respected in the industry for its innovative technology, most notably the company's use of AI and machine learning to build proprietary odds and "create advanced and unique lines across hundreds of betting markets."

The value of the deal and agreement was not disclosed, but it signals an aggressive move from DraftKings to advance its status as one of the best sportsbooks.

Building the brand

Sports IQ is widely known for being ahead of the curve in every sense with its cutting-edge technology. That includes live-betting markets, and its mathematical models and handicapping methodology offer a unique experience.

It's the ideal fit for DraftKings, and Sports IQ CEO Omer Dor said via LinkedIn that he's excited to join a team with a "desire for winning and being the best that matches our own."

This is already the second major acquisition from DraftKings in 2024 as the company seeks to further solidify itself as one of the leading betting sites. DraftKings also strengthened its casino approach after purchasing Jackpocket for a reported $750 million earlier in the year.

That acquisition improved the sportsbook's position in the mobile casino sector, as Jackpocket is among the leading lottery apps in the United States.

Exploding growth

These acquisitions come off a first quarter when DraftKings thrived.

Most impressively, DraftKings recorded 53% year-over-year growth. Its EBITA (earnings before interest, taxes, and amortization) also swung massively compared to the first quarter of 2023, going from a loss of $221.6 million to a gain of $22.4 million.

A central driver behind that rapid growth is the number of unique players compared to the same period in 2023. That figure increased 23%, and the average player spend went up 25%.

Combined that success with these recent moves, and the company seems well-positioned to keep surging.

Written By:
Sean Tomlinson
Sean Tomlinson has been in the sports media wilderness since 2009, and he joined Sportsbook Review in 2021. His work has been referenced in The New York Times and Forbes. He's also made appearances on The Fan 590 and TSN 1050. Sean is a regular bettor who places bets daily while using a handful of books. Most frequently, he uses FanDuel and bet365 due to the quality experience on those apps. While he'll often take an analytical approach, Sean enjoys the fun, recreational side of betting too, and embraces alternative markets on events like the Westminster Dog Show or Eurovision, or the many novelty props tied annually to the Super Bowl, for example. Beyond sports, Sean is also interested in the betting markets tied to politics, and especially those connected to American elections. He sees betting as a way to explore and engage in a deeper way, and takes that same view to his work. He plays poker periodically too, and is an avid fantasy sports player. Sean also previously spent time with Bleacher Report and theScore, all after earning his media studies degree from the University of Guelph-Humber.