Michael Jordan, one of the greatest NBA players and owner of the Charlotte Hornets, joins DraftKings as a special advisor to the board of directors. DraftKings allows sports from the U.S as well as the U.K. to go head to head in single-day online games to win cash and prizes.
Watching professional sports has been one of the most common forms of entertainment for people all around the world. It shows no sign of slowing down with the new generation of athletes becoming more advanced.
DraftKings gives a chance for any person who is fond of sports and wants to make money betting on games, events, etc. Also, the company allows using earning to wager again to increase your total amount or the funds can be safely withdrawn. The company offers plenty of different sports so practically everyone can make money even if the sport they are betting on is not their favorite.
With the addition of Jordan on Wednesday, September 2, 2020, DraftKings’ shares rose 8 percent. The deal ensured that the famous retired basketball player will receive an equity interest in the company.
The successful billionaire has a lot to offer DraftKings. He can help improve the company in a number of different ways. He will offer his own expertise in sports company strategy, marketing activities, product development, etc. This allows DraftKings to work closely with the NBA especially since more states are looking into legalizing online sports wagers.
Jordan is the perfect marketable face the could build off to attract more people to sports betting. He is one of the most profound names in all sports history.
Also, he not just known for his success in sports. Since his retirement, Jordan has made countless business moves beyond basketball leading him to billionaire status. His legendary basketball career has had millions of kids eager to buy a pair of sneakers emblazoned with his name and logo.
Jordan brings a number of invaluable skills to the company. The pandemic hit the business hard considering this virus has been the cause of the stoppage of sports worldwide. A lot of games have resumed play. The leagues have numerous precautions in place to keep players and their families safe.
The National Basketball Association moved play to Orlando inside Disney for the players to play inside a bubble closed off from the rest of the world. The NBA playoffs started and there is a big difference this year that a lot of people think could have effected scores and maybe even the winner of the series.
Since all NBA playoff games will be played in Orlando without fans and the team’s home crowds the home court advantage teams have been working for all season has no impact. This heavily benefits lower-seated teams in a playoff series.
Coronavirus has not only affected the NBA — it affects all sports. DraftKings’ investors are not too worried about coronavirus precautions and look forward to continuing the success of the business.
Jordan has a history of gambling on the golf course — he talked about this motivation in his latest hit film “The Last Dance.” He said he always likes to bet on himself rather than games. He also added he likes to play blackjack because there are no laws associated.
NBA investors play a pivotal role in sports betting and the likes of fantasy sports businesses like DraftKings. The college football season has a big impact on sports betting because, as of right now, due to an estimated 75 percent fewer games.
College conferences are varying in their decisions to carry out play taking the risks into huge consideration. Last year’s college basketball season had 1,500 games scheduled involving FBS or FCS teams. As of this year, less than 400 games are scheduled.
Written by Anay Amoah
Edited by Cathy Milne-Ware
Sources:
ESPN: “Michael Jordan takes equity stake in DraftKings, becomes adviser”
CNBC: “DraftKings rallies 8% as Michael Jordan joins betting company as board advisor”
Fox Business: “Barstool’s Portnoy says Michael Jordan won’t help DraftKings’ profitability”
Featured Image Courtesy of Celebs Journey’s Flickr Page- Creative Commons License
Inset Image Courtesy of Wally Gobetz’s Flickr Page – Creative Commons License
