FanDuel Strikes Deal With The Associated Press Over Betting Odds
All the top US-based sportsbooks in the sports betting industry continue to jockey for position when it comes to their share of the country’s legal sports betting volume. Maneuvering tactics include any number of new acquisitions, marketing sponsorship deals and strategic partnerships.
Currently, FanDuel is perched at the top of that list with the largest share of the legal US betting handle. Based in New York, this company should also garner high marks for its innovative approach to expanding its betting base.
In a recent press release, FanDuel announced that it has reached an agreement to become the exclusive provider of sports betting odds to The Associated Press. This carries over through AP’s global sports report.
This type of strategic partnership moves outside the boundaries of traditional paid advertising venues. The primary goal is additional customer acquisition through higher name recognition. Becoming the official provider for the AP keeps the FanDuel brand name fresh in the minds of sports fans and bettors alike.
Mike Raffensperger is the chief marketing officer for the company. His comments on the new agreement included:
“I think the thing where we move the needle is partnerships with media companies.”
Aligning FanDuel with the biggest writers association in the world is also thinking outside the box in terms of the many previous tie-ins between legal sportsbooks and media properties.
Media spending records show that this sportsbook has already spent more money on traditional advertising than any of its competitors during the first quarter of the year ending March 31.
Moving into partnerships such as this is a way of covering all the bases when it comes to sports-related media properties.
The terms of this agreement call for the AP to only use FanDuel betting odds in its daily sports betting content. This also includes game previews and general content stories that make any mention of betting odds and betting lines. The financial terms of this new partnership were not released.
Also part of the deal is the integration of FanDuel widgets into the sports pages of APNews.com. These will distribute FanDuel content across the entire AP wire. Full editorial control will be maintained by the AP.
Further terms dictate that the AP will make reference to FanDuel odds as a single source in all content. There will also be a hyperlink to the homepage of the sportsbook’s official website. FanDuel will avoid any links to its betting board. This is an effort to stay away from any direct affiliate marketing relationships.
This latest partnership confirms FanDuel’s intent to evolve into a media and content company in conjunction with its market presence as a gaming company. DraftKings is taking the same approach in its expansion plan as the second-largest legal US book.
You can add the AP deal to a list of media partnerships that are already in place. FanDuel has a business relationship with CBS, NBC, Turner Sports and Hulu just to name a few. Earlier this year, the company became an official betting partner of the NFL as the biggest US professional league for sports betting.