FanDuel Group, already the king of mobile sports betting in New York, has penned a deal to become an official sports betting partner of the state’s most iconic franchise — the New York Yankees.
The multi-year partnership announced on Monday expands on a previous relationship between the sportsbook and Major League Baseball club and ensures that FanDuel will remain affiliated with the franchise for the foreseeable future.
"There is no more globally recognized sports brand than the New York Yankees, and as a New York-based company, we're delighted to remain partners with our hometown team," said Mike Raffensperger, FanDuel's chief marketing officer, in a press release. "One of our company values is to be absurdly fan-focused, and there is no fanbase more passionate about their team than Yankees fans which makes this a natural fit."
The deal provides FanDuel with premium VIP hospitality accommodations at Yankee Stadium, brand signage in right field, and rotating advertisement space behind home plate for televised broadcasts.
FanDuel will also be permitted to use the New York Yankees' logo as part of the arrangement.
"We are very excited to be continuing our relationship with FanDuel — our partner since 2020," said Michael Tusiani, senior vice president of partnerships for the Yankees, in a press release. "We hope that FanDuel's Yankee Stadium presence and customer engagement will continue to strengthen its brand as a sports betting operator within the tri-state area."
Empire State squads embrace mobile betting
FanDuel's announcement follows that of Caesars Entertainment, which earlier this month partnered with New York City’s representation in MLB’s National League — the New York Mets.
Caesars is permitted to open a 13,000 square-foot sportsbook lounge on the Excelsior Level at Citi Field as part of that deal. The venue is expected to cut the ribbon sometime during the 2022 MLB season.
Last year, BetMGM became an official sports betting partner of Madison Square Garden Sports, which owns the New York Knicks and New York Rangers.
The agreement includes BetMGM to be promoted inside MSG as well as on the two teams’ social and digital platforms. It also provides the brand access to broadcast integration on MSG networks.
FanDuel crushing the competition in NY
As of the week that ended on April 17, the New York State Gaming Commission’s (NYSGC) official mobile sports betting report shows that FanDuel has brought in over $2 billion in total handle ($2,099,363,763) since legal mobile sports betting’s start in New York on January 8 of this year.
FanDuel’s closest competitors — DraftKings and Caesars — have taken in approximately $1.38 billion and $1.35 billion, respectively.
New York continues to lead the way in online sports betting in the nation, tallying at least $300 million in handle in the last 14 weeks reported.
As of the week ending April 17, online sportsbooks have recorded $5.64 billion in handle, $375.9 million in gross gaming revenue, and have delivered $190 million-plus in tax dollars to the state.
A ninth sportsbook operator, Bally Bet, is expected to start taking bets before the end of June.
