FanDuel, a prominent player in the sports betting industry, has further fortified its alliance with the PGA Tour, building upon its existing partnership as the organization’s official betting partner. This strengthened collaboration has paved the way for a fresh agreement, allowing the operator to secure a license to join the list of sports betting apps in North Carolina.
FanDuel joins the lineup of sportsbooks vying for a foothold in North Carolina’s anticipated legal sports betting arena. In a landscape where Penn Entertainment and ESPN BET have established ties with the Quail Hollow Club, and bet365 has cemented a partnership with the NBA’s Charlotte Hornets, FanDuel’s entry stands distinct in its approach.
Unlike the agreements between bet365, Penn Entertainment, and their partners, FanDuel’s collaboration with the PGA Tour does not include a sponsorship element. While specific details regarding the latest agreement were not made public, such partnerships involving market access often extend over a minimum of 10 years.
FanDuel’s PGA Partnership: A Win For Both Sides
Christain Genetski, President of FanDuel, commented on the partnership with PGA Tour:
“We have a great relationship with the Tour and we have every intention of continuing that,” Genetski said. “Building off an existing partner made it a pretty easy conversation to get to the parameters of a deal that we were very comfortable with.”
In North Carolina’s intricate sports betting landscape, prospective applicants are mandated to secure access to a license through specific avenues: one of five professional teams, two speedways, two PGA Tour event sites, or direct engagement with the PGA Tour or NASCAR. While these agreements don’t inherently guarantee a license, they are a prerequisite for operators intending to apply.
PGA Tour, FanDuel Move Forward Together
Expanding upon their existing collaboration with the PGA Tour, the recent agreement allowing FanDuel North Carolina to enter the market further strengthens their partnership. In the last four months, FanDuel has significantly broadened its scope in golf wagering, introducing a diverse range of engaging in-play betting opportunities.
Scott Warfield, PGA Tour’s Vice President of Gaming, reiterated their steadfast commitment to maintaining the partnership with FanDuel if the organization continues its presence in the sports betting sphere.
“We are very familiar with FanDuel. We are probably the president of their fan club,” Warfield said. “And we intend to be in business with them as long as we’re in sports betting. That made something that’s long-term like this make a ton of sense.”
How FanDuel Collaborated With PGA Tour to Enter NC Market
In the early discussions between FanDuel and the PGA Tour, the primary emphasis was potentially sponsoring one of two Tour events within the state. State legislators deemed This strategic investment significant, who advocated for regulators to view it favorably during the licensing application procedure.
FanDuel expressed its intention to apply for a North Carolina sports betting license directly through the state. To enhance its application prospects, the operator aimed to secure sponsorship agreements with at least two properties, as highlighted by Genetski, a move intended to bolster its credibility and standing within the licensing process.
However, a significant shift occurred in September, as legislators restructured the regulatory framework, mandating sportsbooks to acquire licenses directly from teams and event operators. Faced with this altered landscape, FanDuel adapted its strategy, swiftly engaging in negotiations to secure market access by collaborating with the Tour.
Next Steps for NC Sports Betting Launch
The North Carolina Lottery Commission (NCLC) has established a Dec. 27 final application deadline for licenses. This timeline aims to provide the commission with sufficient leeway to conduct comprehensive background checks and ensure potential operators meet stringent compliance measures.
While many in the industry are optimistic about the possibility of sports betting going live ahead of the highly anticipated March Madness, no specific launch date has been officially disclosed as of now.