FanDuel is entering the Nevada sports betting market through a branding partnership with Boyd Gaming. FanDuel’s brand name will be used in the Fremont Hotel Casino, which is owned by Boyd Gaming, a 5% stakeholder in FanDuel Casino.
Boyd Sports employees will continue operating the retail sportsbook, but FanDuel odds and branding will be used, according to a report from The Nevada Independent. The agreement doesn’t allow FanDuel to launch its mobile sportsbook in Nevada, but that’s a future possibility.
FanDuel in Nevada's competitive market should be fun to watch. Bettor is shopping lines downtown and see's that Circa has better numbers on both sides of all MLB games https://t.co/nKnFXp1q71
— Micah Roberts (@MicahRoberts7) August 3, 2022
The move makes sense from a marketing perspective, as FanDuel’s massive brand name will certainly appeal to the average customer, potentially boosting foot traffic to the retail sportsbook. Boyd and FanDuel have also teamed up at other retail locations across the U.S. Four years ago, the two sides announced a strategic partnership to “pursue sports betting and online gaming opportunities across the United States,” and this is the latest agreement between the two sides.
DraftKings, FanDuel build Nevada presence
Neither DraftKings nor FanDuel currently have mobile access in Nevada, but that could change. DraftKings recently acquired Golden Nugget Online Gaming, and a press release addressed future rebranding of GNOG’s retail locations to DraftKings sportsbooks.
Nevada requires in-person registration for mobile sports betting apps. With DraftKings and FanDuel making moves to add a retail sportsbook presence in Nevada, it positions the two major sports betting operators to enter the state’s mobile market. While The Nevada Independent reported that licensing for Flutter Entertainment, FanDuel’s parent company, will be on the Nevada Gaming Control Board’s August agenda, there’s not expected to be a discussion related to awarding a mobile betting license.
Given Nevada’s wide array of retail sportsbooks, no other state matches its in-person sports betting experience. To wit, the state almost made it a full year with sports betting handle reaching a minimum of $500 million per month.
Running post-PASPA all-time #SportsBetting figures thru Nevada on July 28:
Handle: $142,130,886,844
GGR: $10,166,380,906
GGR Win Rate: 7.1528%
AGR: $8,672,966,342
AGR Win Rate: 6.1021%
Promos/Deductions: $1,493,414,564
Taxes: $1,584,745,536#GamblingTwitter— Chris Altruda (@AlTruda73) July 28, 2022
Image: Shutterstock
