Sports betting operator FanDuel has struck a streaming deal that will make it the first company to offer betting odds alongside live sports events in the United States.
On Monday, both Reuters and Bloomberg reported that the FanDuel Group (a division of UK-listed gambling operator Paddy Power Betfair) was preparing to announce a pact with Swiss-based Sportradar AG to permit live streaming of sports events via FanDuel’s mobile app, alongside real-time odds for sports wagers (in markets where such activity is legal).
The deal, which will officially be announced Tuesday, follows the rollout of the streaming service via FanDuel’s app in New Jersey, currently the nation’s second largest market in terms of legal betting volume and where FanDuel has a solid grip as the leader in betting revenue. FanDuel hopes to expand the streaming product to apps in other legal betting states, pending local approval of mobile wagering.
For the time being, FanDuel’s roster of streamed sports will be limited. FanDuel has done its best to align itself with major North American sports leagues, including becoming an Authorized Gaming Operator of the National Basketball Association last December and signing daily fantasy and betting partnerships with the National Hockey League in November, but the leagues’ media rights are locked up by US broadcasting behemoths.
FanDuel’s streaming service – which won’t be exclusive in the US market – will reportedly start with tennis and European football, and FanDuel Group sportsbook GM Niall Connell said he expects these sports to double their betting volume as a result of the increased exposure.
Sportradar has data deals with major North American leagues – including a new pact with Major League Baseball this February – to provide betting operators the broadest selection of in-play wagering markets. Sportradar also monitors sportsbook operators for irregular betting patterns that could indicate potential match- or spot-fixing attempts.
