The legal sports betting market keeps expanding in the US, and competition between operators is ramping up.
On March 2nd, 2020, FanDuel announced that they have struck a deal with IMG Arena to live stream NHL games in their sportsbook app. Effective immediately, hockey fans can watch up to two live streams every day if they have a funded FanDuel sportsbook account or a bet placed on the event.
FanDuel’s sportsbook is currently available for users in the states of New Jersey, Pennsylvania, Indiana and West Virginia. Local blackout restrictions apply, so users will be seeing games from out-of-market teams.
Enhancing the live betting experience
FanDuel signed a deal with Sportradar back in April of 2019 to become the first sports betting app with live streaming content in the US. The deal brought Sportradar’s Live Channel to FanDuel’s app, with tennis and European soccer being the main attractions.
In that light, adding NHL games to their portfolio is not surprising.
FanDuel’s GM and SVP, Niall Connell, said in the company’s press release that enhancing the live game and live betting experience is important for their customers. He added that “our goal is to become a one-stop-shop for all sports betting content, and live streaming professional sports like hockey is one of the many ways we are reaching that goal.”
FanDuel Group offers sports betting and daily fantasy sports in the US under multiple brands, including FanDuel, Betfair US, DRAFT and TVG. The group is a subsidiary of Flutter Entertainment plc (formerly PaddyPower Betfair plc). The Dublin, Ireland based company is listed in the London Stock Exchange and is valued at well over a billion dollars.
Getting fans engaged and enhancing the betting experience will surely be a trend for all of the big players that are trying to capture their slice of the legal sports betting market across multiple states.
Earlier, we reported that PointsBet Sportsbook agreed a deal with the NBA for access to the league’s official betting data in an effort to provide real-time data and a more immersive betting experience for users.
Similarly, the NHL have an existing deal in place with MGM that will include access to their forthcoming puck and player tracking data. Both this and PointsBet’s deal with the NBA might give the sports betting operators the potential to offer sophisticated in-game betting options based on data, which competitors don’t have access to.
Standing out from the rest of the pack will be key for all of these operators.
Following in the footsteps of Europe
Live streaming games has been popular among sportsbooks in Europe for many years. Bet365, for example, has NBA games, soccer, tennis and horse races available for their European users.
IMG Arena, with whom FanDuel signed their NHL deal, are very active on this front. In 2019, they reported that 56 million unique users watched their content around the world.
The London-based company expanded its partnership with the NHL to cover live streams to US sports betting operators in February this year. Previously, they already held rights to distribute NHL live streams to sports betting operators in multiple European countries.
“The NHL is a highly-valued asset in our portfolio. We are proud to expand this successful partnership to offer one of the largest US sports to our growing customer base of sportsbooks.”, said Freddie Longe, Managing Director of IMG Arena.
Look to see more similar types of deals in the near future as online sportsbooks aim to come up with compelling offerings and aggressively acquire customers!
The ScoreMetrics Lab will keep you informed of all interesting developments in the US sports betting market. For an overview of the current legal status of sports gambling, read our special report, titled “America is Gambling on Sports”, here.
And to get up and running with smart investing in the sports betting market, check out our very own John Todora’s new book – “Zero Correlation Investing – The Score Metrics Secret”. It’s currently on sale for a limited time, so go get yours now!
The ScoreMetrics Lab is the engine that runs the Sports Trading System operation, consisting of a team of researchers and writers who are constantly testing and retesting algorithms. They work hand in hand with our Head Trader and Creator of ScoreMetrics, John Todora to help find new breakthroughs and develop new systems.