fanduel sports betting
Industry Updates

FanDuel Set to Join DraftKings in the Legal Sports Betting Market

NBC’s ProFootballTalk reported yesterday that FanDuel is set to follow DraftKings’ lead and join the legal sports betting market in the USA. According to the report, FanDuel has reached an agreement with West Virginia’s Greenbrier Resort in White Sulphur Springs to provide retail, online and mobile wagering to customers in WV.

FanDuel CEO Matt King told ProFootballTalk that the company is “honored to be chosen to provide sports wagering services at The Greenbrier, an iconic resort in the US. As we work towards building out a top sports betting product for the upcoming NFL season, we look forward to bringing West Virginia residents, sports fans, and visitors to The Greenbrier the best interactive sports experience on the market.”

Online Sports Betting with FanDuel

How mobile and online sports wagering will work, exactly, has yet to be fully revealed. The Casino Club at the Greenbrier is restricted exclusively to overnight resort guests, members of the Greenbrier Sporting Club, members of the Greenbrier Golf & Tennis Club and attendees of off-site conventions that have occupied more than 400 rooms.

West Virginia approved a first set of regulations last week paving the way for local casinos to begin offering retail and online sports betting. Whether or not the FanDuel/Greenbrier alliance will accept online wagers from all state residents or only from Casino Club members remains to be seen.

In either case, we should find out soon because West Virginia sports betting is set to go live in the near future. ProFootballTalk reports FanDuel and the Greenbrier plan to have sports betting up and running by this fall in time for the upcoming NFL season. Additionally, a more permanent set of regulations from the WV Lottery Commissions should be issued at some point, and that too should provide some insight on who will be allowed to bet on sports online in WV.

FanDuel Joins DraftKings in Legal Sports Betting

FanDuel and DraftKings have each been signaling their intent to enter the legal sports betting market in the USA for some time now. Last month, FanDuel announced a merger agreement with international sports betting giant Paddy Power Betfair to combine their US venture.

Under the terms of that deal, Paddy Power Betfair will acquire a 61% share of the venture with an option to increase that stake to 80% in three years and 100% after five years. FanDuel explained in a press release issued at the time that the merger agreement leaves the combined venture “incredibly well-positioned to capitalize on the sports betting market opportunity in the United States.”

FanDuel also informed existing customers of the deal in an e-mail last month that explained its intention to have a sports betting platform ready in time for the 2018 NFL season. Yesterday’s announcement of the Greenbrier deal looks set to fulfill that promise – at least for people located in West Virginia.

DraftKings is also well on its way to entering the US betting market. While FanDuel makes inroads in West Virginia, DraftKings has its eyes set on New Jersey. DraftKings announced last week that it has signed a deal with sports betting services provider Kambi to assist the DFS site on the technical side of running a sports wagering platform.

That news followed an announcement earlier in June that DraftKings has reached a deal with Resorts Atlantic City to open a sportsbook. That sportsbook has not yet opened, but it sounds like that too is imminent. DraftKings applied for a NJ sports betting license on June 11th and barring any surprises there, DraftKings should receive the green light for NJ sports betting in the near future.

Retail sports betting is now live at certain locations in New Jersey, but regulations require a 30-day wait between retail betting and the beginning of online wagering. Based on that timeline, online sports betting should be given the go-ahead sometime in July. If DraftKings and Resorts have everything ready on their end by that time, it is possible we’ll see DraftKings take its first online sports wagers by next month. This is not a hard-and-fast timeline, but things are moving in that direction.

Similar Posts