Tag: FanDuel

FanDuel and DraftKings neck-and-neck in New York during July

Rival operators FanDuel and DraftKings posted almost identical online sports betting revenue in New York during July, while the state reported its lowest monthly handle in 11 months.

Players spent $962.1m (£758.6m/€875.7m) betting on sports online in July. This was the first time New York’s monthly handle has fallen below $1.00bn since August last year.

The total was 20.1% ahead of $800.8m in July last year but 17.5% behind June’s $1.17bn handle.

Gross gaming revenue (GGR) from online betting during the month reached $105.1m. This was up 43.4% from $73.3m last year and 1.3% ahead of $103.8m in June.

FanDuel versus DraftKings – the battle for New York crown

In revenue terms, there was very little between FanDuel and DraftKings. FanDuel has been the frontrunner in New York for some time but DraftKings has steadily closed the gap over recent months.

Flutter Entertainment-owned FanDuel remained marginally ahead with $40.9m in revenue for July. The operator also took $384.6m in online..

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CFL signs FanDuel as first authorised gaming partner

Flutter Entertainment-owned FanDuel Group has entered a partnership with the Canadian Football League (CFL).

Under the deal, FanDuel will become the league’s first authorised gaming operator and an official sportsbook partner.

Consumers in Ontario will be able to place bets on the CFL through FanDuel. The operator secured a licence in the province ahead of it launching its legal sports betting market last April.

Betting market include in-game player props, such as anytime touchdown scorer and a range of various futures bets.

Read the full story on iGB North America

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Sports betting apps: Why change is long overdue

Over the last several years, online sports betting has continued to grow in popularity. Russell Karp, senior vice-president at DataArt, explores what sportsbooks need to do to stay at the top of their game.

Following a wave of deregulation in the US, which has led to the legalisation of sports betting in more than 30 states, millions of users are increasingly able to place bets on sports through operator websites and mobile apps.

Major operators like FanDuel and DraftKings have claimed a significant share of the US sports betting market. But I would argue that the entire industry is overlooking some critical technological developments that could change the playing field for everyone.

Studying the playbook of extremely successful apps like Spotify, Facebook, Twitter and Amazon, no sports betting app – including those offered by DraftKings and FanDuel – has effectively utilised tools like in-app personalisation, performance analytics, AI, high-quality video streaming or a loyal commun..

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FanDuel partners Spotify for content production

Flutter Entertainment-owned FanDuel Group has agreed a multi-year content production partnership with global streaming audio platform Spotify.

Under the new agreement, which builds on an existing partnership between the two parties, FanDuel will work with Spotify’s “The Ringer” website, podcast network and video production house to create content for FanDuel TV.

The Ringer will license select video podcasts to FanDuel TV including existing shows adapted for FanDuel TV and a number of new shows covering sports and competitions such as the National Basketball Association (NBA).

Read the full story on iGB North America

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Massachusetts’ mobile sports betting market goes live

The six online operators approved to launch mobile sports betting offerings in Massachusetts – FanDuel, DraftKings, WynnBet, Barstool, BetMGM and Caesars – have gone live in Massachusetts.

More than six months on from when then-governor Charlie Baker signed House Bill 5164 into law, players have begun placing bets from the six online operators licensed by the Massachusetts Gaming Commission (MGC) – joining the now majority of US states that have legalised the activity.

The rollout follows the launch of retail sports betting towards the end of January, that permitted any land-based casino or racetrack operator to apply for a licence.

“The debut of sports betting in Massachusetts has delivered an incredible amount of excitement and activity to our retail sportsbook at MGM Springfield,” said BetMGM CEO Adam Greenblatt. “We’re proud to expand our best-in-class wagering experience statewide during one of sports’ biggest months of action.”

Role of sports fans

President of Caesars Digit..

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How much do sportsbooks spend on marketing and will it lead them to profit?

Russell Karp of DataArt explores how leading US sportsbooks spend their marketing dollars, examines their strategy and results and looks for a path to profitability.

Fall and winter are intensely hot seasons for sports betting with NFL, NBA, college football and basketball, NHL and MLB post-season action. So it’s no surprise that the last three months of the year became the most expensive in terms of advertising.

BIA Advisory Services forecasted that up to $1.8bn would be spent in 2022 to promote gambling products online, with a sizeable chunk going towards sports betting. In the first week of the year alone, ad spending by the four biggest sportsbooks rocketed to a lofty $24m.

But how do these heavy marketing investments impact the sports betting business? And are sportsbooks getting a return on their investment?

Where does the money go?

To acquire as many users as possible, as early as possible, sportsbooks invest heavily in marketing. A larger share of voice, paired with attra..

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Maryland’s regulated sports betting market officially opens

Maryland’s online sports betting market is officially live, with seven operators now active in the state as of today (23 November).

Barstool, BetRivers, BetMGM, Caesars, DraftKings, FanDuel and PointsBet can now accept wagers in the state.

Caesars and DraftKings launched before the regulated market officially opened, in preparation for the imminent commencement.

Read the full story on iGB North America

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Voters reject both California sports betting proposals

Two different measures to legalise sports betting in California have both been defeated.

While vote counting is ongoing, the Associated Press has already called both races, with the proposals set to be defeated.

The failures of both the tribal-backed Proposition 26 and commercial-supported Proposition 27 leaves unclear the future of sports betting in California, which is the most populous state in the US.

As of 5am ET, Proposition 27 stood at 16.4% for and 83.6% opposed with 38% of votes counted so far. This compares with its rival ballot measure, which is behind 70.7% to 29.3%, also with 38% of votes counted according to data supplied by the New York Times.

The failures of both proposals is a major setback in the expansion of sports betting in the US, which has exploded in the years since the Supreme Court ruling on Murphy vs NCAA repealed the Professional and Amateur Sports Protection Act of 1992 (PASPA), allowing sports betting to spread across the country.

The campaigning on ..

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Flutter revenue up 31% in Q3 as US becomes largest market

Flutter Entertainment forecast a 31% year-on-year increase in revenue for the third quarter of its 2022 financial year, primarily due to growth within its US and international businesses.

In a trading update, Flutter said that revenue for the three months to the end of September is expected to amount to £1.89bn (€2.17bn/$2.18bn), which would be a significant increase from £1.44bn in the corresponding period last year.

On a constant currency basis, revenue is forecast to increase by 82%.

Flutter said it expects this to be driven by growth within the US, where its revenue is forecast to rise 114% year-on-year, or 82% on a constant currency basis, to $598m, making it Flutter’s largest market.

This, the group said, was down to a 106% rise in sports revenue – comprising sportsbook, exchange, daily fantasy sports, advance deposit wagering and B2B product verticals – driven by customer acquisition across existing states as the new NFL season began.

US igaming revenue is also expected t..

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Sportradar scores long-term NBA data deal with FanDuel

Sportradar has agreed a long-term deal to supply official data from the National Basketball Association to Flutter Entertainment-owned FanDuel Group.

The agreement will run through to the end of the 2030-31 season and cover a wide range of NBA data and supplementary betting services for FanDuel’s sportsbook platform.

FanDuel also agreed to extend its original August 2021 main data deal with Sportradar to September 2031, with Sportradar to remain as the preferred data and odds supplier to the operator.

Sportradar and FanDuel will work together to deliver improved sports betting experiences to customers, including, for the first time, using certain player tracking data to create props and support the growth of same game parlays.

FanDuel will also become the first North American operator to utilise Sportradar’s official NBA data, following the operator’s landmark partnership with the NBA announced in November 2021, under which both FanDuel and DraftKings became official betting partne..

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FanDuel expands responsible gambling efforts

Flutter Entertainment-owned FanDuel Group has announced a series of new responsible gambling initiatives to coincide with the American Gaming Association’s (AGA) Responsible Gaming Education Month.

The group hosted its first, business-wide “Play Well Day” where workers were invited to an employee-only event, promoting the role of staff in creating a culture that embraces safer play.

During the Play Well Day, FanDuel announced the appointment of professional boxer, mixed martial artist and wrestler Amanda Serrano as a responsible gaming ambassador.

Read the full story on iGB North America.

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CDI pens deal with FanDuel

Horse racing and casino operator Churchill Downs Incorporated (CDI) has signed a content and sponsorship agreement with Flutter-owned FanDuel.

The multi-year deal involves multiple areas of FanDuel’s business – including its sports wagering, advance deposits wagering (ADW) and television verticals. Under the terms of the deal, CDI will provide B2B technology and services for FanDuel’s sportsbook’s pari-mutuel wagers on horse racing features.

It will also be possible for US-based FanDuel users to place bets on horse racing content at a CDI property, as well as allow FanDuel access to broadcast CDI content on the operator’s newly announced television network. The deal also has provisions providing FanDuel with non-exclusive Kentucky Derby sponsorship rights.

CDI subsidiary, United Tote, will be paid by FanDuel to facilitate the pari-mutuel wagering sections of the agreement. CDI has previously entered into an agreement to sell 49% of United Tote to the New York Race Association, in a..

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