FanDuel to Be New York Yankees Official Sports Betting Partner

Posted on: April 25, 2022, 08:33h. 

Last updated on: April 25, 2022, 04:28h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

FanDuel, the largest US online sportsbook operator, announced today that it has inked a deal to become the official sportsbook partner of the New York Yankees.

Yankees FanDuel
Yankee Stadium in the Bronx, New York, seen in an aerial shot, above. FanDuel is the official sportsbook partner of the ball club. (Image: ESPN)

The agreement expands a previously established relationship between the gaming company and the Major League Baseball (MLB) club. Financial terms of the accord weren’t disclosed.

Under the terms of the agreement, FanDuel will be permitted use of New York Yankees’ marks,” according to a statement issued by the two parties. “Additionally, FanDuel will have premium VIP hospitality accommodations at Yankee Stadium along with integrated FanDuel signage in right-field and rotational signage behind home plate during television broadcasts.”

FanDuel is a unit of UK-based Flutter Entertainment (OTC:PDYPY), and maintains its US headquarters in New York.

FanDuel Asserting Itself in New York

As the fourth-largest state by population, New York is this year’s obvious marquee addition to the list of states where mobile and online sports wagering is permitted.

The state is consistently living up to its billing as a sports wagering titan after generating a handle of more than $2.8 billion through the first six weeks of operation. Mobile betting launched there in January. As it has in so many other states, FanDuel is rapidly becoming a leader in New York.

In March, the operator-controlled 41% of the New York mobile betting market, up from 31% in January. The agreement with the Yankees could bolster FanDuel’s status in the region because the team is one of the most popular in the New York area and one of the world’s most iconic sports franchises.

Additionally, Yankee Stadium is one of the most-visited tourist spots in New York, and it hosts an array of other events in addition to baseball games, including a college football bowl game — the Pinstripe Bowl.

New York Baseball Teams Embracing Betting

The Yankees aren’t the only MLB team in New York securing a partnership with a venerable gaming brand.

Earlier this month, Caesars Entertainment became the official sportsbook partner of the New York Mets. Under the terms of that agreement, Caesars will open a new sportsbook lounge at Citi Field.

That 13,000 square-foot venue will be located on the Excelsior Level at Citi Field and is scheduled to open at some point during the 2022 MLB season. The rival Yankees and other New York pro sports teams are looking to bring sports betting kiosks to their home arenas and stadiums.

Caesars is also among the New York leaders in the sports wagering market share.