FanDuel Sportsbook is adding another layer to its legal sports betting platform by announcing the launch of FanDuel TV, a round-the-clock cable television network, and a parallel broadband channel, FanDuel+.
The launch of the twin networks, representing a wholesale revamp of the horse racing channel TVG, is another step in the sportsbook's drive to consolidate its standing in the industry. FanDuel's parent company, Flutter Entertainment PLC, reported earlier this month that FanDuel is the dominant player in the U.S. online sports betting market, holding a 51% share of gross gaming revenue as of the end of June.
The TV channels are expected to help FanDuel put more distance between it and rivals, such as DraftKings and Caesars, which currently offer a limited selection of podcast programming.
Kay Adams to headline FanDuel TV
The new face of FanDuel TV will be Kay Adams, the highly popular former host of the NFL Network's "Good Morning Football," which she left in May after six years on the show. Adams will be hosting an hour-long, Monday-to-Friday show, at 11 a.m. ET, which will serve as its flagship program.
Adams will be looking to create a large new audience that will benefit from a unique, interactive show geared towards getting viewers to engage in sports betting as well as the daily NFL fantasy options that have long been a mainstay of FanDuel.
"FanDuel TV is the first network designed from the ground up to be watched by viewers with their phone in hand," added Mike Raffensperger, FanDuel's Chief Commerical Officer. "We intend for FanDuel TV to sit at the intersection of live sports and interactive content and believe Kay is the best example of an on-air talent who can bring fans closer to the narratives of the games they care about most."
Expected to launch next month, FanDuel TV will be reaching a potential audience of millions of NFL fans, just in time for the new season via traditional cable and satellite providers (including Comcast Xfinity, Spectrum, Verizon FIOS, DirectTV, DISH, Cox Communications, FuboTV, YouTubeTV, and Hulu). The FanDuel+ streaming platform, meanwhile, will be available to the public via Apple TV, Roku, Amazon Fire, and other OTT platforms.
Adams sees her role at FanDuel as helping pioneer an entirely new sports betting/viewing paradigm that will likely set the tone for future network launches from other competitors.
"To me, success on this show will be building a community that is ready for the future of what sports content looks like," Adams said. "[Sports betting] is a part of our game. It’s the future of the industry. I want to be on the right side of that."
FanDuel hopes its high-profile hire of Adams will drive millions of viewers — and NFL sports bettors in particular — to a network that will offer 24/7 programming. Adams' daily broadcast will also be made available on social media platforms, looking to cash in on her ardent followers migrating from the NFL Network to her new show.
Raffensberger believes that Adams will be able to attract a crossover audience comprising both bettors and regular sports fans.
"The world does not need more very analytic, pick-based touts of the X’s and O’s of gambling. There is a lot of that out there, and frankly, I don’t think it can always be that interesting," said Raffensberger. "I’m interested in creating something that features voices like Kay’s that are unique, authentic, and have real engagement with their audience, and can thread gaming into broader editorial narratives in sports and culture."
McAfee, Kerney, The Ringer add to brand visibility
FanDuel will also be counting on the visibility afforded by its other major headline personality, Pat McAfee, whose eponymous show draws an average of 1,000,000 views per day on YouTube.
The operator signed a four-year, $120-million deal with the former Indianapolis Colts punter last year, and McAfee and his PMI Network will be producing original content as part of the network's weekly block of programming.
In addition to Adams and McAfee, FanDuel's TV networks will also be broadcasting live sports programming as part of its services, including its traditional horse racing coverage that was the cornerstone of TVG.
"FanDuel TV and FanDuel+ will accelerate the renaissance racing is enjoying and repackage the sport for a new generation of mobile-enabled fans, while also bringing new leagues and sports to the U.S. market," said Raffensperger. "We plan to offer more live sports than any network in America."
Another key slot in FanDuel TV's programming lineup will be filled by its signature sports betting show "More Ways to Win," with former ESPN "SportsCenter" anchor Lisa Kerney will carry on as the show's host, with content also coming via a partnership with Bill Simmons' The Ringer.
"Having proven on-air talent, live content from the most influential name in sports media in Pat McAfee and the industry's best team covering horse racing today demonstrates that FanDuel TV will be a dynamic network from day one," said Amy Howe, Chief Executive Officer of FanDuel Group.
FanDuel first U.S. sportsbook to enter into profit
Despite the need to sustain a significant cash burn by spending in advertising, free bets, and other promotions over the past few years, FanDuel reported $22m in positive EBITDA in Q2 2022.
That represents a breakthrough for the gaming industry as FanDuel is the first U.S. sports wagering and online casino gaming operator to report a profitable quarter. None of the other major online gaming operators — DraftKings, BetMGM, and Caesars — are expected to go into profit until 2023.
