The NHL has signed a multiyear partnership with FanDuel, making it the league’s exclusive DFS partner and an official sports betting partner. FanDuel has also signed a multiyear partnership with the Devils, marking the company’s first deal in the sports betting category with an NHL team. Financial terms of either deal were not disclosed. Per its deal with the league, FanDuel will provide its daily fantasy players with exclusive NHL content and access to special prizes such as VIP experiences to NHL tentpole events like the Winter Classic and All-Star Game. FanDuel is also planning to promote free-to-enter single-game fantasy contests for the weekly Wednesday Night Hockey game, as well as the Winter Classic and Stadium Series games. For the NHL, the deal follows last week’s announcement that made MGM Resorts the league’s first sports betting partner. While the two deals will share the overarching sports betting category, FanDuel will not be purchasing the upcoming play and puck data the league will generate that is expected to come online next season at this time, which was a key component of the MGM deal. NHL Chief Revenue Officer Keith Wachtel said FanDuel currently receives NHL data from a third-party provider, although the company could choose to purchase the data at a later point.
DEAL COVERS JUST THE U.S. The deal with FanDuel, as with the deal with MGM, will only cover the U.S. “We are the fourth of the big four as a it relates to daily fantasy as well as sports betting, but as you saw last year with the Vegas Golden Knights, we feel like we have a lot of upside, I think more so than any other sport, so that’s why we’re trying to do deals like this to engage more fans,” Wachtel said. “While [sports betting] is only legal in New Jersey and Vegas right now where we’re the only league with two teams, the beauty is that daily fantasy will reach millions and millions of people, even where sports betting can’t -- FanDuel as a brand is one of the only companies that can take advantage of both.” The NHL previously had a deal in the daily fantasy category with DraftKings, which it signed in ’14. That deal expired following last season. The NHL also held an equity stake in DraftKings as part of that deal; it is unclear if the league still holds that stake. Wachtel declined to comment on the status of that equity stake.
BULLISH ON GROWTH IN HOCKEY MARKET: FanDuel President & COO Kip Levin said that the company is extremely bullish on the growth of hockey contests in daily fantasy, an area that he said is still “under indexed.” “We view this as a way to in which the entertainment value of going to an NHL game can be amplified through things like in-play betting, which I think is much different than anyone who has experienced sports betting in Nevada,” said Levin. “We’ve already got a ton of different types in every game, and fans are playing at a much higher rate than we expected.” Levin said the company will look to further offer new game types and try new contests as the partnerships rolls out. Wachtel said that the league will work with FanDuel to elevate the popularity of the sport and NHL daily fantasy contests on its platform, with the goal of leveraging that as more and more states make sports betting legal. He also said that the league is interested in expanding its sports betting presence overseas, where it is increasingly playing more games and is aiming to grow its platform. Earlier this year, European bookmaker Paddy Power Betfair acquired Fanduel. While Wachtel said the league does not have a formal relationship with Paddy Power Betfair, it has had preliminary discussions with Levin and others at the company. The NHL is also continuing to look at the sports betting category for additional partners as the industry continues to evolve, Wachtel said.
DEVILS' SIDE OF THINGS: As it pertains to the Devils' deal, FanDuel will be integrated into the team’s social, digital and in-game activation platforms, which will highlight the company’s "live in-play" betting options available through its sportsbook app, among other branding and messaging. FanDuel will also receive one of the team’s in-ice corner advertising positions at Prudential Center. Harris Blitzer Sports & Entertainment Chief Revenue Officer Adam Davis said the partnership will be an extension of FanDuel’s brick and mortar presence with its sportsbook at the Meadowlands and will provide a better experience for Devils fans. “Everything we do with them will be about enhancing the game experience for our fans, whether they are in the building or watching from home,” Davis said.
