Boom Sports is set to launch sports betting in several states after inking a market access deal with Penn National Gaming.
Boom Sports, the New York-based fantasy sports developer and technology provider is set to offer B2C sports wagering after entering a market access deal with Penn National Gaming (PNG).
What’s covered in the deal?
Under the deal, Boom Sport will be able to offer its online sports betting platform and online casino products in up to five US states. Boom Sports will gain first skins in Mississippi and Louisiana, however, both of these states have yet to legalize sports wagering and online casino gambling.
Boom Sports will also gain a second skin in Ohio, where sports betting legislation is currently being considered by lawmakers.
The fantasy sports provider will also be granted third-skin access to Missouri and New Mexico when legislation is approved by lawmakers. Boom Sports will also have the opportunity to pursue market access in other states where PNG operates. Each agreement will last 20 years from the launch of operations in each state.
Instead of making a payment for the market access, Boom Sports will build a series of free-to-play games for PNG, working with partners such as Barstool Sports and Nascar. Boom will develop a Barstool Sports-branded free-to-play product and real money games for PNG. Earlier this year, Barstool Sports and PNG entered a long-term partnership.
Boom Sports co-founder and chief executive Stephen Murphy said: “This agreement marks a pivotal moment in the history of Boom Sports. As we aim to become the premier technology provider for the real-money online gaming industry, this deal will allow us to unveil our unique sportsbook vision directly to consumers.”
Boom Sports president and chief technology officer Med Nadooshan said: “We look forward to powering the digital products of the leading online casino operators in the world through our innovative game content, casual-friendly user experience, and superior technology.
“This market access deal allows Boom to get our regulated, real-money products in front of consumers directly so we can make sure our partners get the most proven and successful products.”
A bit about Boom Sports
Boom Sports is best known for its consumer-facing app, Boom Fantasy, but in recent years has placed a stronger emphasis on B2B products.
In the announcement, the company said the new sportsbook platform is a way to showcase and fine-tune its B2B products and not another pivot back to B2C products.
Previously, Boom Sports worked with the XFL and NBC to create free-to-play prediction games. The company also built the NASCAR Finish Line game which launched in February through NASCAR and Penn national. The creation of Finish Line also made up part of Boom’s payment for the Penn National Gaming skins.