Minute Media, FanDuel Expand Sports Betting Partnership
Minute Media and FanDuel are expanding their partnership with new financial backing.
Founder and CEO Asaf Peled told Axios the funding will bolster Minute Media’s relationship with FanDuel as the company invests more in sports betting going forward.
“Investing further in Minute Media is another step forward in trying to take advantage of our position,” Adam Kaplan, General Manager & VP at FanDuel Group, told Axios.
Minute Media owns entertainment and sports websites such as The Big Lead, Mental Floss and the Players’ Tribune.
FanDuel Sportsbook and Minute Media officially partnered in 2018, when they launched The Duel – a fan-generated digital platform focused on fantasy sports and sports betting news and information.
“FanDuel is founded on the idea of bringing fans closer to the sports they love, and now, together with Minute Media, we’re letting fans into the press box,” Matt King, CEO, FanDuel Group, said in a media release announcing the new deal. “We want to give fans a designated platform for all sports and fantasy content, and The Duel is part of our broader efforts to do so.”
According to Axios, Kaplan says readers of the Duel have wagered more than $10 million on FanDuel since 2020 on its online sportsbook and daily fantasy sports platforms. More than 9,000 articles in 2021 have been written for The Duel, in addition to nearly 560 million video views from the Minute Media Network and The Duel since late 2018.
“We leverage The Duel to bring in new people at the top of funnel and engage them all the way down," Kaplan told Axios.
FanDuel Continuing to Expand
Recently, FanDuel has expanded its partnership with numerous media companies. In May, it was announced the Associated Press and FanDuel agreed to terms on a partnership, making FanDuel the exclusive provider of odds across the AP.
In August, FanDuel and Sportradar announced an extension of their existing partnership, making Sportradar the data and odds supplier for U.S. sports to FanDuel through 2028.
Sportradar company will provide FanDuel Sportsbook with complete pre-match betting services, live betting services, and betting entertainment tools, which include live match trackers and betting widgets.
FanDuel also has partnerships with several sports franchises in the NBA and NFL. More deals could be announced in the future.
"It's possible we may look to make additional investments in companies and potential acquisitions in the future," Kaplan told Axios.
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