FanDuel is continuing to leverage its newfound partnerships in multiple areas. Now, the DFS giant is planning to produce sports betting television shows through TVG‘s network of channels.
Though TVG is the leading provider of online horserace betting, the new shows will be TVG’s first not to feature horseracing. However, FanDuel wants the shows to coincide with the openings of its first sportsbooks. The estimated market for US sports betting is in the billions.
Paddy Power Betfair merged with or acquired both TVG and FanDuel this year. The timing of the deals, along with the Supreme Court’s dismissal of PASPA, has paved the way for multi-dimensional approaches to the new market.
“We are going to be investing heavily in content,” FanDuel CEO Matt King told Bloomberg. “There’s a lot of different formats we can distribute through and a lot of different channels.”
FanDuel and new partnerships
Paddy Power Betfair has already announced that FanDuel will be the face of its company in the United States. The formation of the FanDuel Group is part of a growing scramble for new partnerships in the gambling industry.
Companies like FanDuel, DraftKings, and William Hill are finding themselves in conversations with casinos that want sports betting in New Jersey and Mississippi. William Hill, already the leading provider in Nevada, now finds itself in partnerships with places like Monmouth Park Racetrack in New Jersey, Ocean Resort Casino in Atlantic City, and The Palace Casino Resort in Biloxi, Mississippi.
New sports betting business means new challenges
Even with that expertise, starting a new business always bears a learning curve. FanDuel has had two bumps in the road during its first 13 days of operation in New Jersey.
The first hiccup revolved around its opening day betting lines. Experienced bettors complained about the amount of interest the sportsbook charged on its bets, which was in excess of the typical vig in sportsbooks.
Then, earlier this week, a Twitter user alleged that FanDuel failed to pay out all of its winning bets. Even though it appears that the delayed payouts were part of FanDuel’s posted policies, there was confusion in the communications between employees and bettors.
In Mississippi, the actual rollout of sports betting remains in a holding pattern. Regulators continue to put off the start date for sports betting in the Magnolia State, citing “lots of work to do.”
Beyond that, Mississippi properties are having difficulty finding qualified workers to fill the new positions. The ability to run sports betting operations is skilled work, and most people who can do so are going to stay in Las Vegas.
These are merely growing pains for a market in its infancy. With so much demand, success will propel the market forward for the foreseeable future, and every company on the ground floor will profit.