FanDuel has secured a legal sports betting deal with the oldest professional sports league in America.
On Thursday, FanDuel announced a multi-year partnership with Major League Baseball, making the sportsbook a co-exclusive official sports betting partner of the league. As part of the deal, FanDuel has the right to use official MLB branding in its products and marketing campaigns.
The company’s partnership with MLB will also bolster its sportsbook app and streaming service FanDuel+ with live broadcasts of MLB.TV’s Free Game of the Day on both platforms.
"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,” said FanDuel Group president Christian Genetski in a statement.
FanDuel is now a co-exclusive sports betting partner of MLB with BetMGM. In July 2022, BetMGM renewed its partnership with MLB after securing an initial deal in 2018. The pact made the sportsbook the MLB’s first official gaming sponsor. BetMGM’s multiyear renewal also included domestic marketing on MLB Network, MLB.com, and MLB’s portfolio of apps.
MLB continues to embrace sports betting
In January 2022, BetMGM opened the first retail sportsbook connected to an MLB stadium at Nationals Park. The facility, which is open year-round, includes kiosks and betting windows.
FanDuel’s deal with MLB is the latest in a string of retail and online sports betting sites teaming up with teams and players. Back in 2020, PointsBet became the first sportsbook to secure an MLB team sponsorship with a multi-year agreement with the Detroit Tigers. In 2022, Colorado Rockies’ outfielder Charlie Blackmon became the first active MLB player to sign a deal with a betting company.
Partnership with league comes amid strong financial growth
On Thursday, Flutter Entertainment — the owner of FanDuel — released its preliminary results for the financial year ending December 31, 2022. The Ireland-based company, which also owns Sky Betting & Gaming, Betfair, and Sportsbet, generated $9.2 billion in revenue in FY2022 — a 27% increase year-over-year.
U.S. revenue reached $3.2 billion, an 87% uptick year-over-year. FanDuel is the No. 1 sportsbook in America in terms of market share at 50%, with recent launches in Maryland and Ohio. The sportsbook is licensed in 19 states, including Illinois, Pennsylvania, New Jersey, and New York — the largest online sports betting market in the U.S.
It will launch online betting in Massachusetts as soon as March 10, per Massachusetts Gaming Commission Executive Director Karen Wells. The Bay State previously opened retail betting back on January 31.
