DraftKings is sparing no expense on its Super Bowl commercial, which will air during the first quarter of Sunday’s tilt between the Philadelphia Eagles and Kansas City Chiefs.
The 30-second commercial, titled ‘Kevin’s Bet,’ features actor and comedian Kevin Hart, who is hosting a ‘Ludacris’ Super Bowl house party. In addition to the rapper, other present guests include:
- Julius “Dr. J” Erving
- Tony Hawk
- Lisa Leslie
- David Ortiz
- Emmitt Smith
- The Undertaker
A talent list of that caliber will come at a price tag in the millions. So does a 30-second Super Bowl commercial as it costs about $7 million.
In addition to the cost of running the ad, all new and existing DraftKings Sportsbook customers watching will receive a bonus bet through the app.
Super Bowl 57 kicks off at 6:30 p.m. ET on Sunday, Feb. 12, from State Farm Stadium in Glendale, Ariz. The game will be broadcast on Fox.
The cost of doing business for DraftKings
The Super Bowl will have roughly 100 million viewers, many of whom represent existing or potential customers in a multi-billion-dollar sports betting industry.
Eric Ramsey, market analyst for Catena Media, projects $1.1 billion in total Super Bowl wagered nationwide, nearly a 22% increase from $947 million last year.
The launch of online sports betting in Kansas, Maryland and Ohio within the past year will contribute to those numbers. Still, they also provide new markets for DraftKings to at least maintain its position as the number two sportsbook in the US.
Top honors currently belong to FanDuel Sportsbook.
For DraftKings, the price of putting an entertaining commercial (and an accompanying promotion) in front of such a large audience will be a worthwhile long-term investment, at a minimum.
But with around a 26% market share, DraftKings will accept over $250 million in total wagers. This means its potential profit greatly outweighs its investment in the game.
Over $100 million in NJ Super Bowl wagers projected
New Jersey looks to maintain its position as a top-three Super Bowl betting market this year, with a projected handle of $115.5 million. An expanded New York market will lower the Garden State’s ceiling moving forward as it challenges Nevada for the top Super Bowl betting market.
The Philadelphia Eagles’ appearance is generating some NJ sports betting buzz. Come Sunday, it will make for even more exciting gameday parties at Atlantic City casinos, including the DraftKings Sportsbook at Resorts Casino Hotel.
Pennsylvania, the Eagles’ home state, projects $65 million in wagers, sixth in the US behind Illinois ($86.2 million) and Ohio ($82.6 million). While it is one of the top markets in the nation, half the state roots for the Steelers, making a top-five push out of reach.