DAZN has spent billions and billions of dollars in trying to corner the sports streaming space, now it is about to do the same with betting by launching its own sportsbook – say hello to DAZN BET.
The self-styled ‘Netflix of sports’ has thrown incredible sums of money at trying to become a global leader in online broadcasts of major sporting events. And now it is set to add wagering to the mix in a big way.
DAZN has splashed the cash
DAZN’s U.S. offering has majored on boxing, including that record $365million deal a couple of years ago to sign reigning P4P king Saul ‘Canelo’ Alvarez.
‘Canelo’ will be back on DAZN on May 7 for his next fight vs Russian Dmitry Bivol in Las Vegas, and pretty soon you can expect to see live odds with a chance to wager during his fights. Plus all the others broadcast by DAZN.
DAZN Group CEO Shay Segev hailed the launch of DAZN BET by saying: “The convergence of sports media and betting is the future. This historic partnership brings together the leading sports media company and a technology partner who is committed to developing innovative experiences for fans.
“It underscores DAZN’s commitment to revitalising the sports viewing experience by offering a broader spectrum of digital entertainment for fans.”
DAZN aims to deliver what it calls global betting’s first ‘converged media and betting platform’ combining OTT live sports viewing with enhanced live betting markets.
DAZN has lost fortunes so far
The jury of course is still out on whether DAZN will be a long-term financial success. It has lost mind-boggling sums of cash so far in trying to dominate the global sports rights market. More than $4billion in 2019 and 2020 alone.
DAZN’s major shareholder is Access Industries – owned by one of the world’s richest men, Ukraine-born Len Blavatnik. He is currently #1 in the respected UK Sunday Times Rich List with an estimated total wealth of more than $30billion.
Blavatnik’s deep pockets have keep the wheels churning at DAZN despite those heavy losses – in fact a restructure of finances earlier this year saw him effectively write off all of those losses so far.
Now the ‘Netflix of sports’ is putting it all on betting. Will the gamble pay off?