DraftKings has made a strategic move by acquiring Sports IQ Analytics, an artificial intelligence odds provider. The acquisition is aimed at strengthening DraftKings' pricing capabilities, a key aspect in the sports betting industry. This became known from a statement by Omer Dor, CEO of Sports IQ Analytics, published on LinkedIn.

M&A activity in the US sports betting market has been strong this week. The acquisition is fully consistent with the strategy of DraftKings CEO Jason Robins, who takes a disciplined approach to mergers and acquisitions. This follows the company's recent purchase of lottery ticket delivery service Jackpocket. The integration of Sports IQ Analytics is expected to enhance and expand the offering of dynamic betting markets across the DraftKings portfolio.

Acquisition will improve DraftKings' pricing efficiency

Sports IQ Analytics, founded in 2018 by Omer Dor, Matthew Belzberg, Jose Alfaro and Andrew Schwartz, has differentiated itself in the market after raising $7 million in seed funding in 2021. Support from renowned sports executives has helped strengthen the company's reputation.

DraftKings competitors such as BetMGM and FanDuel are also investing heavily in developing their platforms and technology to gain greater market share. As the sports betting industry evolves, companies are focusing on products such as Same Game Parlays (SGP) to improve the user experience and increase profitability.

This acquisition confirms the successful collaboration of the founders and the support of investors, advisors, partners and clients throughout the development journey of Sports IQ Analytics. With DraftKings' current stock price of $43.78, representing growth of 2.27%, the company is targeting continued growth and innovation in the sports betting space.

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