OnlineSports BettingIndustry

Churchill Downs Incorporated and FanDuel sign multi-year agreement

Churchill Downs Incorporated (CDI) has entered into a multi-year agreement with FanDuel Group, involving multiple facets of the latter’s sports wagering, advance deposit wagering (ADW) and television businesses.

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Through the agreement, CDI will provide certain technology and services to enable FanDuel’s customers to place pari-mutuel wagers on horseracing via FanDuel’s sports wagering and ADW platforms.

Moreover, FanDuel will be provided with non-exclusive Kentucky Derby sponsorship rights within the sports wagering category.

CDI CEO Bill Carstanjen commented: “We look forward to working with FanDuel to deliver premium horseracing content to their expansive base of sports wagering customers.

“We are confident that FanDuel’s market approach teamed with our expertise and technology will seamlessly deliver horseracing content and pari-mutuel wagering solutions to a significant number of new fans.”

CDI will also authorise wagering on its owned or controlled horseracing content via FanDuel’s US platforms, and grant the group certain television and media rights to broadcast CDI-owned racing content on FanDuel’s television network.

Commencing in January 2023, the group will pay for CDI technology and services provided by the United Tote Company to facilitate pari-mutuel wagering on FanDuel’s US platforms, including FanDuel Sportsbook and TVG.

“With the launch of FanDuel TV last week and the upcoming integration of premier racing content into our market-leading sportsbook, we believe this is an inflection point in our ability to offer our customers a seamless wagering experience with a single wallet,” said FanDuel CEO Amy Howe.

“We are especially pleased that we will be able to offer wagering on the most exciting two minutes in sports, the Kentucky Derby, and that we will have exclusive broadcast rights to the Churchill Downs Incorporated family of tracks on FanDuel TV. We look forward to creating new audiences for horseracing.”

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