A new multi-million dollar sportsbook partnership has recently been announced that will enhance the already evolving sports betting landscape in Illinois. This time around it is between the FanDuel Group and the historic 95-year old Fairmount Park horse racing facility. The announcement, which was made public on November 16, positions FanDuel in a perfect geographic location near the St. Louis market.
More On Fairmount Park
Fairmount Park has the unusual distinction of being one of just three active horse racing venues in the state. It is also located in Collinsville, Illinois – a total of 285-miles south of Chicago and just 21 miles away from St. Louis, Missouri. The track, which first opened in 1925, features Thoroughbred racing on a one-mile oval dirt track. The racing venue has been approved to host 53 live racing days in the next year. Along with that 2021 racing schedule will be daily simulcast wagering of events hosted at other US race tracks.
Why FanDuel Makes A Good Match
Well, this has a lot more to do with connections than it does with the sports betting operator. Let us explain that a bit better for you. FanDuel has not partnered with a horse race track in Illinois until now, so the precedent is set and expect FanDuel to explore future racing opportunities with this partnership (off-track sportsbooks as an example), and with tracks located in other states where sports betting is either legal or in the process of being legalized. The other side of the coin is FanDuel’s subsidiary TVG. The TVG Network (Television Games Network) was established in mid-1999 and is owned by FanDuel Group. TVG is best known in racing circles as an online horse and greyhound racing betting business that operates a sports-oriented digital cable and satellite TV network. Over one-hundred US and Canadian race tracks along with tracks in Australia, Dubai, France, Great Britain, Hong Kong, Ireland, Japan, and Sweden are featured in the programming with wagering offered on the majority of the races.
What Is Going To Happen At Fairmount Park As Part Of The Deal?
The terms of the agreement will see a great deal of activity at the iconic race track. The first order of business will be a rebranding of the site to become known as FanDuel Sportsbook and Horse Racing. An extreme makeover of the venue will follow which will include the construction of an on-site FanDuel Sportsbook retail location. Of course, these changes are pending approval and licensing from the IGB (Illinois Gaming Board). Plus, FanDuel and TVG plan to fund and restart the running of the former annual signature event – the $250,000 St. Louis Derby. The event was ceased in 2006 due to financial difficulties. While this may sound like a huge gamble, FanDuel has a history of providing major sponsorships to several big-name racing events including the Breeders’ Cup World Championships, the TVG Pacific Classic, and the TVG.com Haskell Invitational. FanDuel also supports horse racing charities including the Permanently Disabled Jockeys Fund and the Thoroughbred Aftercare Alliance.
What They Had To Say About The Partnership
A news release from FanDuel simply referred to the partnership as being, “consistent with FanDuel Group’s long history in the sport of horse racing.” Fairmount Park General Manager Melissa Helton says the facility is “excited to extend our partnership with FanDuel Group to now include their sports gaming platform” and sees a huge benefit to come from joining up with the sports betting company and pointed out that, “this partnership will allow the park to remain an important economic driver for the surrounding communities.” Matt King, CEO of FanDuel Group added, “Fairmount is an iconic state landmark which we plan to modernize bringing innovative technology and entertainment offerings only FanDuel can deliver.”
How FanDuel Will Change The Face Of Horse Race Betting In Illinois
We mentioned connections earlier. FanDuel took on the challenge earlier this year to attract new fans to the sport of horse racing and wagering on those races. They did that by developing and launching their exclusive FanDuel Racing product. FanDuel Racing is a platform that was designed specifically for novice racing fans. The goal here is to have a simple, yet attractive and effective software tool that will draw horse racing bettors from younger age demographics to online sports betting. This has been achieved through the ADW (advance-deposit wagering) platform the FanDuel Racing program is built upon. In less than a year, FanDuel boasts being able to attract over 50,000 players to their ADW platform from their sportsbooks and daily fantasy platforms.
FanDuel Hopes To Transfer Their Licence
As stated, the plans being put in place by FanDuel at Fairmount Park will need approval from the IGB. One more piece of the Fairmount puzzle is the proposed transfer of the FanDuel Group’s sports betting license. Here’s what that will entail: FanDuel revitalizes Fairmount Park, constructs a retail sportsbook on-site, rebrands the track to FanDuel Sportsbook and Horse Racing. Once established, the FanDuel sports betting license currently in use at Par-A-Dice Casino in East Peoria, Illinois is moved. It may sound like an odd step but when you consider the location of Fairmount Park (essentially on the Illinois/Missouri border) at being within spitting distance of a population of 2.8-million in the greater St. Louis area, it just seems to be the logical choice.
In Conclusion
It is hard to ignore the interest that has been focused on Illinois since sports gambling has been legalized in the state. With a large population centered in and around Chicago, sports betting operators have been attracted to Illinois like moths to light and for good reason – it is a sports-crazy state and home to some of the oldest professional, amateur, and other sports teams and facilities in the country. Partnerships have been struck that verify this and will push legal sports betting into the cultural fabric of the state. FanDuel has identified a way to solidify their foot in the door by joining forces with Fairmount Park to create FanDual Sportsbook and Horse Racing. Expect to see other iconic sports venues to become homes to other retail sportsbooks soon.
