IGT Extends Exclusive Partnership with FanDuel Sportsbook

Are you ready for the next big move in retail sports betting? IGT has just announced a multi-year extension to its exclusive partnership with FanDuel Sportsbook, solidifying its role as the platform provider for all of FanDuel’s North American sportsbooks until 2028. With cutting-edge betting technology and unmatched market reach, this partnership sets the stage for a new era in sports betting. Curious how this extension will shape the future of the industry? Read on to explore the details and implications of this landmark agreement!

IGT and FanDuel Extend Retail Sportsbook Partnership Through 2028 in Multi-Year Agreement

IGT has announced an extension to its long-standing partnership with FanDuel Sportsbook, further cementing its role as the exclusive retail sports betting platform provider for FanDuel’s North American operations. This multi-year agreement will see IGT PlaySports continue to supply its advanced betting solutions to FanDuel’s retail sportsbooks across North America until 2028, starting from September 1. This move underscores IGT’s position as a premier technology provider in the competitive U.S. sports betting market.

A Partnership Built on Success

The collaboration between IGT and FanDuel began in 2019 when FanDuel opened its first retail sportsbook at the New Meadowlands Racing and Entertainment in New Jersey. By 2020, the two companies had formalized an exclusive partnership, with IGT PlaySports becoming the backbone of FanDuel’s retail sportsbook operations.

Christian Genetski, President of FanDuel, highlighted the significance of this partnership in their success: “For more than five years, IGT PlaySports’ team and technology have helped FanDuel’s retail sportsbook operation deliver a best-in-class customer experience while helping us maintain our position as America’s No. 1 sportsbook.”

Joe Bertolone, Senior Vice President at IGT, expressed his enthusiasm about the extension: “IGT PlaySports looks forward to supporting FanDuel as its exclusive retail sports betting platform provider in North America for four additional years. We are committed to helping our customers realize the full potential of the retail sports betting market and differentiate their products through exceptional player experience and reliable technology.”

The Power of IGT PlaySports

With over 27 FanDuel sportsbooks operating across 20 North American jurisdictions, IGT PlaySports provides a comprehensive suite of sports betting products and services. Each retail location is equipped with IGT’s self-service betting solutions, including PlaySports pads and kiosks, which offer a seamless wagering experience for customers.

But IGT’s contribution goes beyond just physical betting hardware. The company offers 24/7 customer support, an integrated Player Account Management (PAM) platform, and access to an in-house trading team. This team provides expert odds-making, localized pre-game pricing, and real-time monitoring, enabling FanDuel to deliver a dynamic and responsive sports betting experience to its customers.

FanDuel’s Growth Under Flutter Entertainment

The IGT-FanDuel partnership extension comes during a period of rapid growth for FanDuel’s parent company, Flutter Entertainment. Flutter recently unveiled a board-authorized buyback plan, projected to double FanDuel’s current $2.5 billion revenue to over $5 billion by 2027. More than 50% of this projected growth is expected to come directly from FanDuel’s market-leading position in the U.S., driven by innovative offerings like single-game parlays and competitive pricing.

Currently, FanDuel Sportsbook holds a dominant 46% share of America’s legal sports betting gross gaming revenue, a significant leap from its 30% market share in 2018. This success is a testament to the strategic advantage provided by its partnership with IGT PlaySports and its cutting-edge technology.

Peter Jackson, CEO of Flutter, commented on the company’s outlook: “I am very excited about Flutter’s strong trajectory and how well positioned we are to capitalize on a global regulated addressable market of nearly $370 billion. With our unmatched scale, diversification, and our global differentiator, The Flutter Edge, we have clear sustainable global advantages that will continue to drive growth and power our financial model with operating leverage building over time.”

The extension of IGT and FanDuel’s partnership until 2028 marks a pivotal moment in the retail sports betting landscape. By continuing to leverage IGT’s advanced PlaySports platform, FanDuel is well-positioned to maintain and expand its market dominance across North America. This collaboration underscores the importance of reliable technology, customer-centric services, and strategic partnerships in achieving success within the highly competitive sports betting industry. As the market evolves, IGT and FanDuel’s continued cooperation will likely serve as a blueprint for others looking to excel in the retail sports betting space.