FanDuel Develops Live Stream Sports Betting App
FanDuel has partnered with Switzerland’s Sportradar AG to develop an app that allows for in-game sports betting while players are watching the game live on their mobile device. The service has gone online in New Jersey and the company says it plans to introduce it in other U.S. markets. The app marks a first for sports betting in the U.S. and initially will offer betting on tennis and European soccer.
FanDuel is pushing another sports betting boundary in the U.S. by introducing an app that will allow for in-game betting during live-stream broadcasts of games on mobile devices.
The app has gone live in New Jersey and FanDuel says it hopes to eventually introduce it in all its U.S. markets. FanDuel, a unit of Irish bookmaker Paddy Power Betfair PLC, is currently the leader in the New Jersey sports betting market.
The app is a first for the U.S. market, which so far has not offered sports betting during live stream broadcasts.
“We’re trying to build the most engaging and entertaining sports betting experience in the U.S.,” said Niall Connell, general manager of the sportsbook at FanDuel Group in a press release.
While live stream betting is popular in Europe, media rights concerns complicate the issue with U.S. sports leagues. Initially, FanDuel is offering the live-live stream betting on tennis and European soccer. Initial streams have been of Germany’s Bundesliga soccer tier and mid-level tennis matches.
The company said offering live-stream betting on lower tier sports could double the number of bets on those sports and also should help increase interest on overseas sports. Viewers will be able to see live odds displayed on screen and will be able to bet without leaving the game’s livestream.
“If you’re betting on something, you tend to want to watch the outcome of it,” Connell told Bloomberg News. “It’d be a bit like betting on a horse race but not being able to see the actual race at all. Plus, a lot of this tennis content is matches that aren’t on terrestrial TV.”
Financial details of the agreement between FanDuel and Sportsradar were not disclosed. According to reports, FanDuel’s deal with Sportradar is not exclusive, meaning other sportsbooks in the U.S. could also strike deals with the data company.
In a related matter, FanDuel CEO Matt King told Yahoo Finance that since sports betting is being approved on a state-to-state basis, there will not be a national sports betting framework.
“Let’s be honest, most of the states look at this as saying this is something my constituents want and it’s going to deliver a lot of tax dollars,” King said. “Some states have done it the right way, like New Jersey, and some states have put more restrictions on and they haven’t seen the revenue. Our general view is you’ll see a lot of states adopt it. It won’t ever be a national law, but each state if they do it the right way it will be far bigger than people think.”