FanDuel, one of the market leaders in US sports betting, has further strengthened its links to the country’s sports ecosystem via a deal with Diamond Sports Group.
The commercial partnership will see Diamond’s 16 regional sports networks and digital offerings, including its direct-to-consumer (DTC) product, carry the FanDuel branding.
FanDuel will effectively sponsor the company’s regional coverage of NBA, NHL and MLB fixtures. The company will also gain reseller designation for Diamond’s DTC product and additional economic and equity elements.
David Preschlack, CEO of Diamond, said: “Collaborating with FanDuel provides a tremendous pathway for Diamond to elevate the fan experience and deepen the incremental value we provide for our team, league and distribution partners.
“This partnership reinforces opportunities to further strengthen the close connection our RSNs have with local fans, including enhancing our DTC offering for a growing digital audience.
“In the meantime, having finalised agreements with the NBA, NHL and our key distributors, we remain focused on moving our business forward and driving value for our team partners and our stakeholders.”
This is not Diamond’s first commercial interaction with the sports betting sector. The company’s regional sports networks have been sponsored by Bally’s under a previous agreement, with FanDuel replacing its competitor in this role.
FanDuel is the largest online bookmaker in the US by market share, followed by DraftKings and BetMGM. Like its competitors in DraftKings, FanDuel has a background in daily fantasy sports (DFS) before entering the betting space after the repeal of the federal PASPA legislation in 2018, which allowed all US states to launch betting markets if desired.
The repeal of PASPA has seen a subsequent gold rush involving both US-based firms and international players, accompanied by extensive sports marketing efforts. FanDuel has been active in this area, partnering with various teams and leagues like the Carolina Panthers of the NFL and the PGA Tour.
It has been getting increasingly involved in sports streaming and broadcasting via its FanDuel TV position, which recently signed a deal with the EuroLeague pan-European basketball league.
Mike Raffensperger, President – Sports, FanDuel, remarked: “Partnering with Diamond provides us an opportunity to put the FanDuel brand at the intersection of the nation’s largest group of regional sports networks.
“A large cohort of FanDuel customers are devoted RSN viewers and this agreement allows us to further cement the FanDuel brand with sports fans and provides a unique vehicle to reward our users.”
