DraftKings (DraftKings 37,80 -2,05%) has agreed to acquire Sports IQ, an AI-oddsmaking company helmed by CEO Omer Dor. Dor confirmed the planned acquisition on LinkedIn. He said:
“I’m excited for this next chapter in the Sports IQ Analytics Analytics journey. In DraftKings, we join a team whose desire for winning and being the best matches our own. Thank you Jason Robins, Paul Liberman and the entire team, for welcoming us onboard.”
The details of the deal, including the purchase price and expected closing date, have yet to be unveiled.
Dor continued: “I feel privileged for the last 6 years, working alongside the incredible group of people that make the Sports IQ team. They are hard-working, intelligent, and passionate, and I’m so excited that we get to bring our skills and energy to DraftKings.”
About Sports IQ Analytics
Sports IQ Analytics is an AI-fueled oddsmaking business. The company’s website says simply, “What do we do? We are oddsmakers.” The business uses its proprietary mathematics to drive better oddsmaking in live betting markets. Machine learning is deployed to help sportsbooks with pricing, coverage, trading, and more.
AI Making Waves in the Betting World
The advent of artificial intelligence and machine learning is starting to permeate the sports betting world. Sportsbooks are leaning on the tools in conjunction with trading teams, developers, and more to ramp up new features and functionality. DraftKings Sportsbook’s acquisition of Sports IQ is essentially a stamp of approval for the model, and we can expect to see similar technologies and/or acquisitions emerge in the near future.
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