DraftKings now lets you bet on drone races – CNBC

Pilots take part in practice rounds at the Drone Racing League / Allianz World Championship final at Alexandra Palaceon June 08, 2017 in London, England.

Adam Gray | Barcroft Media | Getty Images

Sports betting company DraftKings and the Drone Racing League announced an exclusive deal on Friday that will let people bet on drone races. It should also help DraftKings cater to a younger audience.

DRL is a first-person-view racing league where drone pilots race devices through neon-lit courses and compete for top prize money. DRL did not provide the amount it pays its competitors, but in a 2017 tournament the award amount reached $100,000.

The two sides did not provide financial terms of the deal.

People in Colorado, New Hampshire, New Jersey, Tennessee and West Virginia can place bets on drone races from their phones.

Established in 2015, DRL has built up interest among younger sports fans over the years. It’s set to complete the fifth season and will have a “level 14” racing event on Saturday followed by its championship event, which has yet to be announced.

Drones used in events are designed and built by DRL. Identical models are built for every race. Each drone is worth roughly $2,000 and can travel up to 90 miles per hour.

“DRL’s thrilling, innovative racing events are perfect for the customized wagering offerings we can create,” Ezra Kucharz, DraftKings’ chief business officer, said in a statement. “Our expertise in
Source…