FanDuel and Churchill Downs Announce Comprehensive Horse Racing Partnership

Churchill Downs Incorporated (CDI) and the FanDuel Group have entered into a long-term partnership encompassing multiple facets of FanDuel’s sports wagering, advance-deposit wagering (ADW), and broadcasting activities.

Under the terms of the agreement, CDI will furnish technology and support enabling FanDuel patrons to engage in pari-mutuel betting on horse races via FanDuel’s sportsbook and ADW platforms. In return, FanDuel secures non-exclusive sponsorship privileges in the sports betting sector for the Kentucky Derby.

“We are thrilled to collaborate with FanDuel to provide their extensive sports wagering clientele with top-tier horse racing content,” remarked Bill Carstanjen, Chief Executive Officer of CDI. “We are confident that this alliance, leveraging FanDuel’s market approach and our proficiency, will deliver seamless horse racing content and pari-mutuel betting solutions to a substantial number of new enthusiasts.”

Moreover, CDI will authorize FanDuel to offer betting on horse racing content owned or managed by CDI across its US platforms and grant FanDuel specific television and media entitlements to air CDI-owned horse racing content on its TVG Network.

Commencing in January 2023, FanDuel will remunerate CDI for the technology and services through a blend of charges and a revenue-sharing arrangement tied to wagering handle on CDI content facilitated through FanDuel’s platforms, encompassing FanDuel Sportsbook and TVG.

The debut of FanDuel TV recently, coupled with the imminent incorporation of top-tier equestrian content into our dominant sports betting platform, represents a pivotal shift in our goal to provide users with a streamlined wagering experience from a unified account,” stated Amy Howe, Chief Executive Officer of FanDuel. “We are enthusiastic about being the ultimate platform for placing bets on the most exhilarating 120 seconds in athletics, the Kentucky Derby, and we’re delighted to solely air races from Churchill Downs Incorporated venues on FanDuel TV. We eagerly anticipate presenting the world of horse racing to an entirely fresh demographic.”