FanDuel & New York Yankees Announce Multi-Year Partnership
On April 25th 2022, FanDuel Group (which include Fanduel Sportsbook as well as Fanduel Casino) announced a multi-year partnership renewal with the New York Yankees to become an official betting partner of the team. This deal continues on one of the more popular deals between one of the top franchises in all of sports and one of the biggest names in sports betting. Already partners since the 2020 season, both sides seem excited about the future and the potential growth that both parties can obtain from this partnership. This deal will allow the FanDuel name to be put around the Yankee Stadium with marketing opportunities beyond the ballpark.
Online Gambling Profitability In NY
FanDuel has become one of the top operators in the online sportsbook and casino industry with a fan-friendly product to boot. With the recent legalization of online sports betting in the state of New York, the FanDuel name has become one of the most popular brands statewide. FanDuel has actually had more growth out of any other online sportsbook and casino operator in the state of New York, with better numbers compared to competitors like DraftKings and BetMGM. While Caesars had the higher betting handle in January, FanDuel took the lead in February and never looked back.
The legalization of sports betting in New York has been a wild success for the state. The NY state tax revenue was close to $200 million by the end of April, with a total sports betting handle of more than $5.6 billion. During the first month alone, online sportsbook and casino operators generated more than $1.63 billion in revenue, 41% of which was from FanDuel.
FanDuel & Yankee Partnership Details
With the agreement between the New York Yankees and FanDuel, FanDuel is now able to use the Yankees logo on advertising and promotional assets. On the other side, FanDuel will have VIP premium hospitality accommodations at Yankee Stadium. These accommodations allow access to FanDuel VIP members, giving these fans better access to the Yankees than ever seen before on specific game days. The FanDuel logo and imagery will have a permanent sign in the right field while also having a sign in rotation with other advertisements behind the home plate. This gives the FanDuel brand even more exposure to Yankees fans and a wider audience during television broadcasts.
Mike Raffensperger, the Chief Marketing Officer of FanDuel Group, said that the Yankees are the most globally recognized sports brand. As FanDuel is a New York-based company, both sides are happy to remain partners with the “hometown team”. A company value of FanDuel is to have a large focus on the fans, and Raffensperger believes that the fanbase of the New York Yankees are the most passionate and dedicated, making the partnership a perfect fit. Michael J. Tusiani, the Senior Vice President of the New York Yankees, said that they are extremely excited to continue the relationship between the Yankees and FanDuel. He believes that the presence that FanDuel will have at Yankee Stadium, in addition to their customer engagement, will increase the FanDuel brand as a premier sports betting operator in the tri-state area (New York, New Jersey, and Pennsylvania).
The partnership between FanDuel Group and the New York Yankees isn’t the first time that FanDuel has been associated with professional baseball. In 2019, Major League Baseball announced a collaboration with the gambling operator to designate FanDuel as an authorized gaming operator for the baseball league. This deal was considered monumental as it marked the first partnership between FanDuel and any Major League Baseball affiliate. We might be expecting exciting Baseball Betting promotions from FanDuel in the next few months! This partnership provided FanDuel access to all Major League Baseball data as well as team and league logos and marks. These assets can then be used on FanDuel’s retail sportsbook locations and online sports betting products.