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FanDuel Debuts Single-Account Horse Racing and Sports Betting in the US
By Jeff Osienya Dec 26, 2022 IndustryLeading US sportsbook operator FanDuel has unveiled the first unified wallet account for bettors to wager on the ponies and other sporting events on the same platform. Other sports-wagering brands plan to follow suit in the coming months.In the true sense of its status as an industry leader, FanDuel became the first US sportsbook to offer sports betting and parimutuel horse wagering from the same account. The American sports betting juggernaut made the announcement on Wednesday, December 21st, ushering in a new era of user-friendly wagering in the country. Nonetheless, as game-changing as this shift appears, it is hardly surprising to many industry watchers who had predicted this move for some time.
The move by the famed operator is part of its broader initiative to improve user experience and introduce horse racing to a wider and younger audience. Initially, users were required to open a separate account and a separate wallet for purposes of parimutuel wagering on horse racing at FanDuel racing or TVG.com. With the new unified approach, there will now be less hassle on the customer side.
FanDuel-Churchill Downs Partnership Fanned the Flame of the Initiative
At the start of September, Churchill Downs Incorporated and FanDuel announced a multi-year deal to see the two industry giants collaborate on several gambling-related projects. This partnership brought together arguably the two most prominent names in online sports wagering and horse racing in the US, respectively. Key among the issues on the newfound collaboration was the ability of sports betters on the FanDuel platform to wager on horse races at the Churchill Downs tracks using the FanDuel App.
The deal also saw FanDuel acquiring non-exclusive rights to sponsor the Kentucky Derby, one of the nation’s biggest horse racing events. In addition, FanDuel’s recently launched FanDuel TV would also acquire the right to be the only television broadcaster of Churchill Downs’ racing content, excluding Derby Week races. These arrangements, along with FanDuel’s plan to introduce horse racing to a younger audience, acted as a solid foundation for the unified horse racing and sports wagering initiative.
The Unified Experience Debuted Across Several States
Upon making the announcement, FanDuel stated that its merged wallet/single account initiative is available to users in Illinois, Colorado, Indiana, Maryland, West Virginia, Wyoming, New York, and Virginia. Moreover, it is essential to note that these are only among the pilot states debuting the feature. Per FanDuel’s press release, the eventual plan is to gradually spread the reach of the merged wallet/ single account initiative over several states in 2023.
Following the introduction of single wallets for horse racing and sports wagering, FanDuel Group CEO Amy Howe heaped praises on the move, saying:
Quote“Horse racing is part of our DNA. This is a significant opportunity to expose a broader, engaged audience to the sport in a familiar environment.”
Besides wagering, sports fans can stream horse racing exclusively from FanDuel TV, formerly the TVG network. Additional rebrands in line with the FanDuel overhaul will include FanDuel Racing (TVG2) and FanDuel + (TVG OTT). Moreover, users will have access to a range of other popular sports-related content, including;
- 'Run it back' hosted by Shams Charania and Michele Beadle
- 'Up & Adams' hosted by Kay Adams
- 'More ways to win' hosted by Lisa Kerney
Outside the main attractions – races from Churchill Downs- users will also enjoy live streams of racing events in other major racing venues like Santa Anita Del Mar and Keeneland Gulfstream Park.
The Race is on!
Of course, FanDuel won’t be the last US sportsbook to offer a shared wallet for horse racing and sports betting. DraftKings, which is viewed by many as FanDuel’s primary competitor, is already in the kitchen cooking up a move to match the maneuver.
The Nasdaq-listed operator (DraftKings) has taken a similar route to FanDuel by establishing an initial partnership with Churchill Downs to create an Advanced Deposit Wagering Platform (ADW) for horse racing. However, as of now, this deal does not include plans to offer races directly on the Draftkings Sportsbook platform. Still, many industry insiders anticipate that this will change soon, particularly in light of developments pertaining to its arch-nemesis.
Caesars and BetMGM, also renowned in the sports betting arena, have each partnered with NYRA bets to launch separate Advanced Deposit Wagering platforms for horse racing across several states. In a similar breadth, even the smaller sportsbooks like Pointsbet are also joining the fold with the aim of launching their ADW with help from 1/ST. Similarly, PlayUP also premiered its ADW offering in anticipation of future developments in the scene.
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