One of the biggest names in pari-mutuel wagering and horse-racing broadcasts is getting shut out in the Empire State due to a contract impasse.
The New York Racing Association, a non-profit corporation that operates three thoroughbreds series, announced Thursday that it has pulled the plug on all content for FanDuel’s broadcast network and online wagering platform TVG for this weekend’s Belmont at the Big A “effective immediately.”
The NYRA seeks to “increase funds flowing to the sport and its stakeholders” in the Empire State.
“NYRA provides the racing content that fuels the profits of out-of-state ADWs like TVG/FanDuel,” said Tony Allevato, NYRA chief revenue officer. “NYRA must prioritize the overall health of the sport and broader industry here in New York and we will continue negotiations to seek an equitable resolution so that our racing is widely available nationally.”
No new deal
As is typical in a negotiation process, another big event is on the horizon. The NYRA’s announcement came one week from the start of the highly popular Saratoga meet that begins July 11, so the two sides will likely remain in contract talks.
FanDuel, also known as one of the top sports betting market leaders in the U.S., has been involved in horse racing as an advanced-deposit wagering company since 2000.
FanDuelTV broadcasts in up to 60 million homes and broadcasts live racing events on its site as well.
In response to the NYRA’s stance, FanDuel said it hopes to have content “available soon.”
Due to the expiration of our content agreement with NYRA, we are currently not offering wagering on BAQ. We understand and regret that this may be an inconvenience for some customers but we cannot agree to new proposed terms that are substantially inconsistent with our prior…
— FanDuel Racing (@FanDuel_Racing) July 4, 2024
FOX Sports has an exclusive deal with the NYRA to broadcast this week’s Belmont races. FanDuel would’ve been able to air online content on its site before the contract expired on Monday. The two sides worked on a new deal through Thursday to no avail.
Online broadcasts can be found on NYRA Bets and other New York sports betting platform partners like Caesars Racebook and BetMGM.
NYRA’s support
How long this impasse lasts could be determined by just how far apart the two sides are on financial compensation. The NYRA seeks higher fees for its content from advanced deposit wagering operators, and Saratoga is a high-demand series for pari-mutuel bettors, so FanDuel can’t afford to miss out on the content.
The horsemen and thoroughbred associations in the Empire State are publicly backing the NYRA.
“New York's horse owners are deeply invested in making the NYRA racing product the best in the country,” said Tina Bond, president of the New York Thoroughbred Horsemen’s Association. “We staunchly agree that fair compensation for that investment is absolutely imperative. If the New York thoroughbred industry thrives, we all benefit.”
“NYRA is working to broaden the economic benefits flowing to New York’s horse racing industry, and our membership supports these efforts in every way,” said Najja Thompson, executive director of New York Thoroughbred Breeders. “The funds generated by ADWs carrying NYRA support breeding farms throughout the state, and we stand shoulder to shoulder with NYRA."
