DraftKings and Sportsradar CEOs join Michael Jordan at SBC Summit to talk fan engagement, fans, and what consumers want

The Leadership in Sports Business presented by Sportradar on Tuesday, September 29, gathered a formidable crowd of attendees who were keen to hear commentary from leading voices in the sports betting industry, among whom were Moderator Kirsty Gallacher, Broadcaster & Sports Journalist Carsten Koerl, CEO & Founder of Sportradar, Jason Robins, CEO & Co-founder of DraftKings, and Michael Jordan, Basketball Icon, Investor & Philanthropist.

​Gallacher opened the panel by asking Koerl how fan behavior has evolved from game-day viewing to a 24/7 experience, and what the next generation of sports consumption might look like.

​Koerl said technology is helping companies move from personalised to customised experiences by learning who the fan is and what they want to consume. He described enriching that experience with data and linking it to monetization, including betting, gaming, sponsorship and merchandising, as well as social media.

​With so much live sport available, he added, operators need to think in terms of 24/7 channels and mixed-sport environments. The next question was directed at Robins, who was asked about DraftKings’ own strategy of building a fan experience rather than just a product.

​Robins agreed with Koerl, adding that it really came down to understanding what the user truly wants.

​"If you think about why people watch sports, the reason they watch sports, well, some people watch it to see crazy athletic ability like what Michael does, but many people, also, most people are watching because they want to root for something," Robins explained.

​He further argued that sports betting and fantasy products give people a reason to care about teams that aren’t necessarily their home teams or favorite players.

​"It means feeling like you have a real stake, an emotional stake in the outcome of what's happening and the thrill that that brings," Robins said, remarking that DraftKings’s Super App was an example of attempting to bring all of these experiences into one place.

Gallacher continued by roping Jordan into the conversation, asking him what it was fans today wanted that was different from previous generations. Jordan started by confessing that it was really a multi-faceted question, and he drew on his experience as a player.

​As a player, he said, he never really bothered with thinking about what people would be interested in betting on, for example. His only goal was to win. Jordan noted that fans today have a much better understanding of the outcome, and they were willing to become much more involved with the outcome.

​"They want to bet on the outcome," he added. He said that this was great because consumers now want to get involved in the sports industry more than ever before.

​The next question by Gallacher focused on the evolution of sports betting. Koerl spoke about how data collection has evolved, with Sportradar installing cameras to track data points and provide these data points for officiating purposes, but also for the purposes of a more engaging live experience.

​As Koerl puts it: you need to diversify, or you will die. The next question was directed at Robins, who was asked about the difference between lasting consumer trends and pay cycles.

​Robins said that it was a great question and argued that it was genuinely hard to know. For a company such as DraftKings, it had to position itself in these pay cycles - several years ago it was NFTs, and now it is prediction markets.

​Robins acknowledged that the outcome of these verticals was difficult to predict, but that it was important for DraftKings to maintain a presence all the same. "It’s important that we set ourselves up so we are successful either way," Robins added.

​Jordan also spoke about the importance of engaging with business opportunities that feel passionate to the investor, much like he has done through his own ventures. "It's something I have a certain passion for," he noted.

​Gallacher then steered the conversation back to Robins, who spoke more about how prediction markets are changing the sports betting landscape.

​"I think predictions obviously vary, you know, the outcome ultimately of what predictions is in the US is very dependent on the legal regulatory process, and we don't control that. We don’t know the outcome of that," he noted.

​Robins reiterated his point that DraftKings was preparing for either scenario - a world with or without sports event contracts- and how DraftKings can win share and be consumer-centric in both.

​Gallacher highlighted the fact that fans today are more engaged and they virtually track a player’s every move, asking Jordan how he would feel if he were playing the game today.

​Jordan acquiesced that the sport and viewer expectations have evolved and changed - it was an entirely different game, he said, but ultimately, he would do what he had always done best - just play the game.

​However, he acknowledged that there is a lot of pressure on modern players today.

​"I think there is a little bit more added pressure when you think about all the things and the circumstances surrounding the game, whereas it was very simple back when I played, you know, you either win the game or you don't win the game," Jordan commented.

​However, Jordan feels that even today he would have stayed true to himself: "Opportunities may have changed outside the game, but in terms of my true passion for the game of basketball, I don't think that would have changed."

Image credit: Casino Guru News