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BlueWire-WynnBet deal bears fruit as sportsbooks, media outlets grow closer

The online sports betting industry has become a "significant win for sports publishers over the past three years" -- particularly for "one media startup with a deal with a single sportsbook that represents its largest revenue source," according to Tim Peterson of DIGIDAY. BlueWire Podcasts, a media company that publishes 170 sports and sports-adjacent podcasts, signed a three-year-long deal with WynnBET that has already led to a $3.5M "investment in the media company in exchange for partial ownership," at least $1M in "advertising revenue and a multimillion-dollar recording studio built at the Wynn Las Vegas that opened in early September." BlueWire’s deal also "guarantees a certain amount of revenue for ads" and the company will "produce a handful of podcasts for WynnBET as well." The deal is an "exclusive partnership with WynnBET." BlueWire Founder & CEO Kevin Jones said the company had been "entertaining deals with some of the other sportsbooks," but “other players who are more established, like FanDuel or DraftKings, already have a lot of things set up." Peterson notes sportsbooks themselves are "investing so heavily in these media partnerships, in part because of the corresponding brand marketing opportunity," but also because there is a "big push from these companies wanting to become media companies in their own right." DraftKings has "built several media partnerships with publishers over the years," including a deal with Vox Media’s SB Nation to "create a dedicated website for the company’s sports betting content called DraftKings Nation" (DIGIDAY.com, 10/21).


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