Chicago Cubs Planning to Open Sportsbook at Wrigley Field
One of the most iconic baseball parks is upgrading to include a modern sportsbook. As of Thursday, MLB’s Chicago Cubs announced a partnership with DraftKings to open a retail sportsbook at Wrigley Field. That makes the Cubs the first MLB team to commit to offering any sort of sportsbook at their venue.
Cubs’ sportsbook part of DraftKings partnership
According to ESPN’s report, the Cubs announced a multiyear partnership with DraftKings, a fantasy sports contest and betting operator. The publicly-traded company was founded in 2012 in Boston by Jason Robins, Matt Kalish, and Paul Liberman. For years, it has allowed people in various jurisdictions to participate in fantasy sports contests with the potential to win big money.
The Cubs-DraftKings partnership includes the plans to open the first-ever sportsbook at Wrigleyville, the area outside of Wrigley Field. It will include betting windows and self-serve kiosks. They have not disclosed a specific location of the sportsbook and financial details of revenue distribution.
This also seems to open the door for future DraftKings sportsbooks at other Major League Baseball or sports league venues.
“I think it will be potentially one of the biggest sportsbooks in the country, even if all 50 states were open. So we’re really excited to see what that kind of venue can do for DraftKings and the Cubs,” DraftKings co-founder Matt Kalish told ESPN of the sportsbook announcement.
“It might be the Cubs to win, maybe a few props like first home run, then stroll into the game at 6:45, sit down, sweat my bets and cheer on the Cubs,” Kalish told ESPN of the possibilities.
“Then, after the game I can stop back at the DraftKings book, relax with my friends, get some food and drink and think about the next day’s game, maybe put in a few more tickets,” he added, referring to the potential of a sports bar combined with a sportsbook at Wrigley.
DraftKings making moves including team-up with Michael Jordan
The news of the Cubs-DraftKings partnership and sportsbook plan comes just a day after another announcement. DraftKings revealed that Michael Jordan became an investor and member of the board of advisors. Jordan, a six-time NBA champion with the Chicago Bulls and Basketball Hall of Famer, will have multiple roles in terms of his advising DraftKings.
On Thursday morning, DraftKings co-founder Matt Kalish was a guest on CNBC’s Squawk on the Street. He talked about the Cubs partnership as well as MJ’s involvement.
“Who wouldn’t want Michael Jordan around the table advising you on strategy?” Kalish told CNBC. “We’re incredibly excited to have him around the table, we’re just getting started, but I think it’s going to be tremendous added piece to the success of DraftKings over the next several years.”
As of right now, there is no timeline for the sports book’s opening just yet. There are regulatory steps involved including Wrigley getting approval from the City of Chicago. In addition, DraftKings has to apply to the Illinois Gaming Board for a master sports wagering license.
Still, it appears the company is making major moves to become a recognizable brand as legalized sports betting arrives in more U.S. cities.
