FanDuel Secures Betting Deal with MLB
Author:
Megan Butler
And that’s a home run: the Flutter Entertainment-owned sports betting giant FanDuel Group has scored a partnership with Major League Baseball (MLB). As part of the deal, FanDuel will act as the league’s co-exclusive official sports betting partner, adding onto its existing status as the league’s authorized gaming operator which it first established in 2019.
The Flutter Entertainment-owned sports betting operator giant FanDuel Group has scored a coveted co-exclusive partnership with Major League Baseball (MLB).
?KeithJJ/Pixabay
FanDuel Also Took Opportunity to Say It Would be Raising Safer Gambling Awareness
Batter up: the Flutter Entertainment-owned FanDuel Group, a major presence in the sports betting world, has revealed that it has stepped into a brand-new exclusive partnership with Major League Baseball (MLB).
As a result of the agreement between the two, FanDuel will now act as a co-exclusive, but still official, sports betting partner for the league. This move builds upon its already existing status of being an authorized gaming operator for the league since the year 2019.
FanDuel fans will now enjoy the ability to stream MLB.TV’s Free Game of the Day through the operator’s sportsbook app and via its FanDuel+ OTT platform, though this is still dependent on local blackout restrictions.
The operator will also receive the coveted rights to make use of MLB game highlights in both in-product and as part of original programming on FanDuel TV. It will also collaborate closely together with the league on innovative new sports betting products designed to further drive fan engagement. Finally, last but not least, FanDuel and MLB will put their heads together in order to raise awareness of responsible gambling within the baseball fan community across North America.
FanDuel Looks Forward to Being Showcased in All Major MLB Games
On the occasion of the announcement of FanDuel and MLB’s nascent partnership, MLB executive vice president of media and business development Kenny Gersh praised the sports betting provider for its industry leading business strategy and its commitment to responsible gambling:
“As one of the top sportsbooks in America, FanDuel has been an industry leader in innovative fan engagement opportunities while also reminding them of the importance of doing it responsibly. These key priorities of unique fan engagement and responsible gambling align with our focus from the league level and make FanDuel a natural partner to collaborate with as an official sports betting partner.”– Kenny Gersh, Vice President of Media and Business Development, Major League Baseball (MLB), Press Release
Meanwhile, FanDuel president Christian Genetski highlighted the passion of the everyday baseball fan in particular, while also claiming the sports betting operator was looking forward to the privilege of working together with the Major League Baseball (MLB) organization:
“The baseball fan is one of the most engaged in all of sports, which is why we’re delighted to be the new sports betting partner of Major League Baseball. Our team is eager to showcase FanDuel in nationally broadcast MLB games and help enhance game narratives and bring America’s pastime directly into our mobile app and OTT platform for fans to watch and wager. We’re also very excited about the opportunity to work together with MLB on new betting product innovations that will give customers the opportunity to enhance their experience on every pitch from March until October.”– Christian Genetski, President, FanDuel Group, Press Release
New York Arbitrator Valued FanDuel at $20 Billion in November 2022
Back in November 2022, a New York-based arbitrator ruled that the Fox Corporation is allowed to exercise an option to acquire a significant stake in Flutter Entertainment-owned FanDuel Group as part of a major $22 billion (￡17.7bn/€20.1bn) valuation.
New York’s Judicial Arbitration and Mediation Services made both the valuation and the ruling. Notable is that Fox has now also received blessing to acquire an 18.6% stake in FanDuel from another financial body, which was only first granted to Fox by Flutter when it committed to purchasing a further 37.2% stake in the business all the way back in December 2020.
Be that as it may, the price payable for Fox to acquire the 18.6% stake is still only subject to FanDuel Group’s fair market value as of December 2020. The initial amount this was thought to be $11.2 billion, however it is now upwards of $20 billion. Chief executive of Flutter Entertainment, Peter Jackson, welcomed the New York Judicial Arbitration and Mediation Services’ confidence in Flutter’s stance concerning FanDuel’s value:
“The ruling vindicates the confidence we had in our position on this matter and provides certainty on what it would cost Fox to buy into this business, should they wish to do so. FanDuel is winning in the US market and is the clear #1 operator, a position driven by its exceptional market leading product and efficiency in acquiring customers at scale. The team remain focused on maintaining our leadership position and we look forward to updating the market on our progress at our US capital markets day on 16 November.”– Peter Jackson, Chief Executive, Flutter Entertainment,Press Release
Sportradar and FanDuel Clinched Deal Together Back in October 2022
And in November 2022, FanDuel stepped into yet another deal, this time with sports betting data supplier Sportradar, in which Sportradar will supply official data from the National Basketball Association (NBA) over to the Flutter Entertainment-owned sports betting provider.
The long-term data supply deal is indeed going to be very long-lasting – stretching all the way through to the end of the 2030-31 NBA season. FanDuel also took the opportunity to extend its original August 2021 data supplying deal with Sportradar by a whole additional decade, until September 2031.
Sportradar chief executive Carsten Koerl sang the praises of FanDuel in a shared statement, asserting it as one of the biggest and most respected sports betting operators currently active in the United States:
“As the largest operator in North America, FanDuel is an exceptional partner, trusting in our products and services to help define their market differentiation. We are thrilled to further expand our relationship with FanDuel in a manner that will evolve and grow the skyrocketing market for sports betting in the US, while continuing to monetize our long-term partnership with the NBA. This deal demonstrates the value of our strategy in delivering products and services on top of data rights.”– Carsten Koerl, Chief Executive, Sportradar,Press Release
