Fanduel announced a new partnership with the New York Yankees as the ball club’s official sports betting partner.
The partnership permits FanDuel to use the Yankees’ marks and allows FanDuel to have premium VIP hospitality accommodations at Yankee Stadium. FanDuel also gets signage in right field at Yankee Stadium and rotational signage during telecasts of Yankees games.
“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, CMO of FanDuel Group. “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.”
“We are very excited to be continuing our relationship with FanDuel — our partner since 2020,” said Michael J. Tusiani, New York Yankees Senior Vice President, Partnerships. “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.”
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New York Sports Betting Success
The legalization of New York sports betting is already paying tremendous financial dividends. According to estimates through April 17, New York State’s total sports betting handle is more than $5.6 billion, and the total New York state tax revenue from betting is approaching 200 million dollars.
Through the end of March, FanDuel has produced the most sports betting handle and sports betting revenue this year in New York out of every legal sportsbook in the state. After finishing second to Caesar’s in January, FanDuel generated the highest sports betting handle for both February and March. FanDuel has accumulated over $1.7 billion in betting handle through the year’s first three months. Caesar’s ($1.22 billion) and DraftKings ($1.18 billion) are second and third. FanDuel generated over $100 million in tax revenue as well.
How FanDuel Approaches Responsible Gambling
A crucial issue that has arisen with the continued legalization of sports betting is sportsbooks promoting their players to wager responsibly. FanDuel is committed to ensuring responsible gambling by protecting its players. The sportsbook has a feature where players can set user limits on how much they can deposit, enter contests, and spend on contests.
FanDuel also enables its players to take a “Timeout,” where the player’s account is locked for a time period selected by the player. FanDuel, of course, verifies all accounts for age and eligibility as well. Sportsbooks seem to be doing a good job of doing their best to ensure responsible gambling. It will be interesting to see how the sports franchises that partner with these sportsbooks promote gambling.