After a recent merger with Paddy Power Betfair and their announcement of opening of a brick-and-mortar presence in casinos and racetracks, the new FanDuel Sportsbook brand is not done there. FanDuel’s chief executive officer, Matt King, announced that the company will be adding a sports gambling television show to their portfolio, which will air on their TVG and TVG2 networks, which currently devoted almost strictly to horseracing.
“We are going to be investing heavily in content,” King said in an interview. “There’s a lot of different formats we can distribute through and a lot of different channels.”
The entire sports betting market has been taken by storm since the Supreme Court struck down PASPA back in May of this year. Soon, there will be casinos with this product available in New Jersey, Mississippi, and Pennsylvania. FanDuel, like DraftKings, are both originally known for their daily fantasy sports presence, but now these companies are optimizing the success of their brand and the technology they used for daily fantasy sports to partner up with certain casinos.
As mentioned, FanDuel recently partnered with Paddy Power which operates sports betting parlors in the U.K. and Ireland, owns the TVG networks and collects horse-racing bets online in the U.S. It owns about 61 percent of FanDuel following the deal, according to Christopher Palmeri of Bloomberg
In mid-July, a FanDuel branded New Jersey sportsbook opened in East Rutherford, New Jersey at the Meadowlands Racetrack, where “betting snaked outside the sports-bar-like facility on opening weekend as fans bet on and watched the last matches of the World Cup,” according to Palmeri. However, as Palmeri also notes, earlier this week a customer complained on Twitter about the sportsbook not having the cash for his 16-inning baseball game win, but the book’s closing time is at 1 a.m. ET and it ran past that curfew. In the first nine days, the casino grossed $3.5 million in wagers.
As far as the TV show goes, King thinks it’s important to separate FanDuel from the television product.“We need to make sure that it’s not viewed as an infomercial for the FanDuel sports betting product,” King said. “I would want a place where they fully expect the guy running the Wynn sports book to come on and talk about what’s awesome at the Wynn.”
It makes you wonder if FanDuel will ever create fantasy football television shows on this new TVG network, or perhaps their own sports shows with an emphasis on betting. This entire U.S. sports betting market is about to explode, especially with the NFL season around the corner.