DraftKings spent over $9 million on advertising last week

Daily fantasy sports operator DraftKings, which has yet to reach profitability, has been spending lavishly – $9.46 million last week alone – on advertising to bring in more players and develop critical mass.

Television advertising monitor iSpot ranks the DFS firm as seventh biggest advertiser last week, convincingly overtaking Nissan, Verizon and even McDonalds.

Our readers will recall that in terms of its deal with ESPN, DraftKings is committed to spending $500 million across the next three years on ESPN alone.

Rival market leader FanDuel is also investing heavily in advertising as a player acquisition strategy, and last week began airing expensive advertisements on the global news network CNN, with budgets boosted by the $250 million it received in fresh investment capital last month .

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