Paddy Power Betfair has again proved to be on the forefront establish a strong foothold in the U.S sports betting markets. Paddy Power Betfair is a betting company based in Dublin and Ireland, but it is now operating in U.S markets with sister companies such as FanDuel.
It seems Paddy Power Betfair team had prepared a beast marketing strategy to give them the top-notch spot in the sports gambling markets in the U.S. Paddy Power has been moving in the U.S markets more aggressively than all other online casinos. The UK bookmakers have recently made another significant move by announcing a strategic partnership between Boyd Gaming and FanDuel. It was a win to win situation for both companies type of agreement where while working together they will dominate the U.S bookmarking markets primarily in the sports betting and online gaming fields.
FanDuel is a popular U.S online fantasy sports betting website. In May 2018 Betfair US purchased 61% shares of FanDuel total shares plus an option to keep on increasing more dividends percentage up to 80% in 3 years or to 100% in five years period. Therefore when Paddy Power Betfair struck another deal with Boyd Gaming via FanDuel they opened up for doors to successfully capitalize on the sports and online betting all over U.S. Boyd Gaming is one among the biggest multi-state casino companies in the U.S that owns more than 29 casinos in 10 states while FanDuel has over 8 million customers across 45 states in America. Boyd Gaming stakes shot up to 1.7% at 36.79 on that day’s stock market.
Terms and conditions binding their agreement subjected to state laws and regulatory board approvals affirm that FanDuel will provide technology and other related services to operate all online and sports betting sites that are under Boyd Gaming platforms. Financial analysts and other stakeholders have a strong positive feeling that the deal would have secured a long-term solution of running the largest sports betting and online gaming services.
The Chief Executive Officer of the FanDuel group, Matt King, said that “There is incredible momentum in the sports betting space and we look forward to partnering with Boyd Gaming to bring the FanDuel Sportsbook to more customers across the United States.” This partnership will greatly help FanDuel solve the problem of its accessibility in different states. Despite that the supreme and other state courts legalized sports betting and online gaming, bookmakers still have a big challenge in getting operational licenses from many states governments. By partnering with Boyd Gaming, Fanduel will joyride on the advantage that they will be operating across all current and future states that Boyd Gaming will have its footprint.
The Chief Executive Officer of the Boyd Gaming group said that “we will be positioned to build market-leading sports-betting and online gaming operations in each state as they move forward with these new forms of entertainment. We will also see immediate benefits from our cross-marketing agreement with FanDuel, introducing millions of FanDuel customers to Boyd Gaming’s properties nationwide.” Boyd Gaming will be offered with technical know-how and resources that will run gaming and betting operations in a more user-friendly in return for providing them with market accessibility.
In short, this deals allows Boyd Gaming run their online gaming and sports betting websites on using FanDuel’s technology while in return they let FanDuel operate its own online gaming services in all states where Boyd Gaming have or will have a license of operation with an exemption of the Nevada state.