Musberger Takes Risk Buying VSiN Back From DraftKings
Notable Betting Network Returns To Original Owner
While it’s not an unheard-of move, it’s rare to see a sportsbook operator choose to sell off a popular betting vertical. So many new gambling content companies are popping up. However, that’s exactly what happened when Musburger Media reacquired VSiN from DraftKings for an undisclosed purchase price. In 2021, DraftKings bought VSiN from Musberger Media for $70 million so this is a full-circle kind of move.
The circumstances are different but it feels a lot like when Penn Entertainment sold Barstool Sports back to Dave Portnoy only a few years after purchasing the company. It was a move predicated on leveraging Barstool’s fanbase to convert readers and viewers into bettors. One could only suspect that similarly to how Penn struggled to make financial sense out of that partnership, DraftKings faced equal challenges in doing that with VSiN.
VSiN’s personalities will still dole out their best prop bets today but they’ll be doing it without the kind of outside oversight it had under DraftKings’ watch.
Now, founders Brent Musberger, Brian Musberger (Brent’s nephew), and Bill Adee will control their network again. It tries to remain unique and relevant in an absurdly crowded marketplace. VSiN has done a good job of being able to stand out but it’s arguable that, in recent years, it was propped up by its affiliation with DraftKings. As a newly independent outlet, it may be harder to regain that kind of platform.
How Can VSiN Stand Out?
One big question here after Musburger Media Reacquires VSiN from DraftKings is how they plan to keep VSiN a major player in the direct-to-consumer sports betting content marketplace. Also, how does VSiN keep growing? Without the platform DraftKings provided, it could be difficult for VSiN to reach new viewers and followers.
A big benefit here is VSiN’s freedom to pursue the kinds of programming it wants without following corporate directives. Granted, VSiN is likely to cover similar ground as would be sought by an operator like DraftKings. Now, though, VSiN is not beholden to the lines provided by one operator nor does it have to promote one operator at the expense of others.
VSiN can freely enter into partnerships with other operators. It can dispense its best bets without the fear of stepping on DraftKings’ toes. If DraftKings was over-exposed on one particular bet — maybe a Super Bowl wager — there’s the concern that VSiN would be obligated to try to convince its viewers and followers to take the other side.
Whether that occurred or not, the mere appearance of impropriety could be a major turn-off for viewers and advertisers. Now, it’s no longer a concern.
VSiN’s Success (Or Failure) Could Set Tone
Plenty of eyes in the sports betting content space will closely watch what happens after Musburger Media re-acquires VSiN from DraftKings. It’s a bold move and risky to try and independently operate a media company in today’s climate.
It’ll be fascinating to see how VSiN tries to branch out, whether it’s with more multimedia efforts or even certain one-off deals with other sportsbook operators.
It’ll be difficult for VSiN to thrive without the kind of sportsbook arrangements the DraftKings casino tried to leverage. With the freedom tied to independence, there is also a risk.
This risk is that viewers won’t be interested in following yet another sports betting content company. On top of that, it may not provide said viewers with bonus bets or deals with a major operator like DraftKings.
However, that freedom could lead to personalities being more honest and upfront with viewers because they are less beholden to the directives of an owner. Where VSiN can differentiate itself is by being unaffiliated. If that angle is pushed to viewers, then it could result in the kinds of unique content and takes that may draw in new eyeballs. Of course, this is just speculation but VSiN will have to put itself out there to thrive.
For Gambling news, odds analysis, and more, visit Point Spreads Sports Magazine.
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