Bills and FanDuel Strike Mobile Sports Betting Deal
With the New York sports betting market launching over the weekend, the Buffalo Bills have agreed to make FanDuel their official sports betting partner. The announcement came after the New York Gaming Commission announced that four sportsbooks will launch at 9 a.m. Saturday.
The Buffalo Bills and FanDuel Strike a Deal
FanDuel was one of the first four sportsbooks to accept mobile sports wagers in the state. The other three included were Caesars, DraftKings, and BetRivers. This will be a multi-year deal that will be a great marketing strategy for both parties.
FanDuel is known for having a reputable marketing team in the sports industry. The company was giving new users in New York $100 in free bets with no deposit required.
Dan Misko, Pegula Sports & Entertainment SVP of business development stated in a press release, “FanDuel has built a strong reputation as a premier sports betting destination for sports fans,…The ways they reach people through engaging and entertaining content is innovative and aligns with how we think about connecting with our fans.”
He went on to say, “We’re very excited for all this partnership will offer our valued fans throughout the state of New York as part of their gameday experience and look forward to working with FanDuel for many years to come.”
The Bills have a strong culture and great connection with its fan base that is often referred to as Bills Mafia. FanDuel will receive a plethora of benefits as part of the partnership. The company will gain access to the Bills marks and logos for marketing purposes as well as in-game branding and activations at Highmark Stadium.
This is perfect timing for the Bills organization as the team clinched the top spot in the AFC East as they get ready to play the New England Patriots this week in the playoffs. As part of the deal, the reputable sportsbook will become the sponsor of the Buffalo Bills-themed Podcast, Bills by the Numbers, which is hosted by Steve Tasker and Chris Brown.
Five other sportsbooks are set to launch in the biggest market in the industry on a rolling basis. These online operators include WynnBet, Resorts World, PointsBet, BetMGM, and Bally Bet.
New Jersey generated the most revenue in the sports betting industry in 2021, but the Empire State has a population that is roughly 2.5 times larger.
What is the Tax Rate on Revenue For New York?
New York operators will also be subject to the highest tax rate in the country based on the revenue, set for 51 percent. However, having a sports betting market is great for New York as the state lost a lot of tax dollars to neighboring states like New Jersey.
New York missed on over $1 billion in tax revenue since New Jersey legalized sports betting in 2018. Experts in the industry estimated that 20 percent of New Jersey’s handle came from bettors that reside in New York who crossed state lines to place bets.