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New York Yankees name FanDuel as sports betting partner
The New York Yankees have expanded their partnership with FanDuel, designating the gambling brand as an official sports betting partner.
FanDuel will enjoy brand visibility throughout Yankee Stadium and be allowed to use the Major League Baseball (MLB) team's trademarks, as well as access to premium VIP areas of the ballpark, as part of the multi-year agreement.
In 2020, FanDuel joined the MLB team to market its fantasy platform.
FanDuel must pay a 51 percent tax on gross betting earnings after receiving its New York State betting license in November 2021.
According to Sports Business Journal, gambling brands in the state made more than US$1.63 billion in revenue in their first month, with FanDuel accounting for 41 percent of that.
The New York Yankees are the most globally recognized sports brand, according to Mike Raffensperger, chief marketing officer of FanDuel Group, and as a New York-based firm, they're thrilled to remain partners with the MLB team.