The New Jersey Devils of the National Hockey League and the New York Red Bulls of Major League Soccer are throwing themselves into the deep end of the sports betting waters.
The deal the New Jersey Devils have with FanDuel is well documented, but new details regarding this partnership have now been released.?Across the state border in New York, the Red Bulls team is hoping to sell stadium naming rights to a sports betting company.
New details of FanDuel partnership
Details are emerging about the partnership between FanDuel and the New Jersey Devils.
FanDuel, in the beginning, was a fantasy sports platform with more than 7 million customers. When sports betting became legal following a Supreme Court decision in May 2018, the company turned its attention to this new sector.
With its current customer base, FanDuel is perfectly positioned to be a success in this industry. Shortly after the Supreme Court decision, Paddy Power, a major European bookmaker, bought a majority stake in FanDuel.
Since then, FanDuel has been expanding its presence in the sports betting market, particularly in New Jersey. This is why it’s a great fit for the New Jersey Devils.
The partners are now planning some initiatives to get the fans’ excitement levels to peak. There will be numerous promotions whereby fans can win VIP experiences for New Jersey Devils and All-Star events.
The FanDuel logo will be in the center of the ice at the Devil’s Prudential Center. This will make them the very first gambling platform in the country that is on the field of a professional sport’s team in the United States.
The Devils were also the first major sports organization in the US to obtain a sports betting partner.
Why so many partners?
What is particularly interesting about this situation is that now the Devils have three different gaming partners: FanDuel, William Hill, and Caesars. Devils fans will be readying themselves for plenty of sports betting advertising going forth.
The owners of the Devils, David Blitzer and Josh Harris, are also owners of Crystal Palace, an English Premier League team. Gambling sponsors are a significant part of that league and most teams have as many as four different gaming partners. This is why the Devils are taking a similar approach.
The main focus for William Hill through this partnership will be to establish its brand in the United States.
Caesars is a well-known casino group in the US, so they are trying to further integrate their brand into the minds of potential visitors to their hotels and resorts. Finally, FanDuel is looking to carve out its own niche, particularly involving the prop bet side of things, where they have a unique offering.
With FanDuel having extensive on-ice advertising and Caesars and William Hill both having their own facilities at the stadium, it will certainly be a full-on experience for any home or visiting fans.
New York Red Bulls plans
New York’s Major League Soccer franchise, the New York Red Bulls, is reportedly talking with gambling companies about their stadium’s naming rights.
The venue, which seats 25,000 people, opened in 2010. Red Bull, of course, is the predominant sponsor of the team, so the venue is called Red Bull Stadium. However, the owners of the team want to take advantage of the burgeoning sports betting sector in the region in any way that they can.
Speaking about this approach, the team’s general manager said: “If we can find a partner or partners that can help us enhance our fan experience through gambling, we’re willing to have a conversation.”
They are hoping to bring in as much as $4m annually through a naming rights deal. They reportedly have been looking for a sponsor for the stadium since 2015.
The Red Bulls would not be the first New York major sports team to partner with a sports betting company. The NFL’s New York Jets have a deal with 888.com and MGM.
An MLS rule bans these types of partnerships. However, many believe that, with the advent of sports betting legalization, this will change in the very near future.
Sports betting legalization will come before the state legislature in 2019. They already were debating a bill before the 2018 legislative session concluded.
The MLS is trying to grow its profile and expand the number of sponsorship opportunities for their teams. As of the 2020 season, teams can offer sleeve sponsorship on their jerseys. The New York Red Bulls is also one of the leading teams in the league, which will be enticing for sponsors.
