On Monday, sports betting and fantasy sports powerhouse FanDuel announced a groundbreaking partnership with the Denver Broncos to become the team’s official sports betting and fantasy sports provider.
This deal is the first of its kind with NFL teams and it could be the beginning to an explosive growth of sports betting within the NFL’s once anti-gambling bubble.
What Does This Groundbreaking Deal Entail?
For FanDuel, this multiyear deal allows them the rights to use Denver Broncos’ branding on its apps, website and advertising as an official daily fantasy and sports betting partner.
For the Broncos, this partnership allows them to advertise FanDuel services and possibly bring in more fans through unique sports betting opportunities and engaging daily fantasy sports. Yet, this deal isn’t exclusive for the Broncos as they can also strike deals with other sports betting entities if they desire.
“We intentionally did not do an exclusive deal because this is an evolving space and we want to be working with a couple different partners and see how different strategies and different approaches work.”
Freeman would also go on to say that FanDuel’s trusted reputation and popular services will provide Broncos fans with plenty of opportunities to enjoy football like never before.
FanDuel’s Strategic Expansion in Colorado
Let’s not forget that DraftKings is the official daily fantasy sports partner of the NFL, but not a sports betting partner. However, DraftKings and FanDuel are locked in massive battle to gain as much of the sports betting industry as they can in each state that legalizes it.
The partnership with the Denver Broncos provides a massive advantage for FanDuel over DraftKings in the state of Colorado. In fact, it puts them ahead of the other gambling entities in the state as well.
“Colorado is home to a passionate sports fan base and independent spirit, and, together with the Broncos, we’re going to take the fan experience in Colorado to the next level. With the NFL season just around the corner, partnering with an innovative organization like the Denver Broncos allows us to offer engaging fan experiences both inside and outside the stadium and access to unique betting promotions and content.”
In November 2019, voters approved the legalization of sports betting, but it didn’t become official until May 1st, 2020, when the state took its first wager. Currently, there are at least six active sportsbooks in Colorado.
Along with FanDuel, the following operators have licenses to take sports betting wagers:
There are a total of 35 casinos within the borders including tribal and commercial entities. It’s expected that the state could see up to 35 mobile sports betting operators within the next few years.
In its first month of operation, Colorado’s sports betting industry brought in a handle of $25.5 million dollars. That’s an impressive total considering that most of the professional sports leagues were shut down due to the health crisis.
This also indicates that Colorado could become a major player in sports betting industry. In fact, some pundits estimate the state can generate an annual handle north of $5 billion dollars.
With these proposed numbers, and the fierce competition to get customers among online sportsbooks, you can see why FanDuel’s partnership with the Broncos is a huge win for the gaming powerhouse.
As a longtime freelance writer, avid sports fan, former athlete, and experienced sports bettor, Rick Rockwell has risen up the ranks at GamblingSites.org to become the self-professed "King of the Blog" in his first year with the site. ...
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