FanDuel Inks Deal with Carolina Panthers Ahead of NC Launch
FanDuel has made a major move just a few days before online sports betting officially goes live in North Carolina. The online sportsbook and fantasy sports company has partnered with the NFL’s Carolina Panthers to become their official sports betting partner.
This move makes perfect sense. After all, FanDuel and the Panthers already share the same shade of blue in their logos.
What does this partnership mean for FanDuel and the Panthers? Let’s dive into the details of this blockbuster deal below.
What Does FanDuel Gain From the Agreement?
Online sports betting is launching in The Tar Heel State on Monday, March 11. FanDuel announced its pre-launch bonus offers in the state by partnering with the PGA Tour, but this new deal with the Panthers makes an even bolder statement. The deal will give FanDuel more visibility in North Carolina, which is the 9th most populous state in the nation.
As part of the agreement, FanDuel will be able to use the Panthers logo on all of its digital outlets and social media accounts. This will give the brand instant credibility in a state with a whole slew of devoted sports fans. FanDuel signs will also be posted on screens throughout the Panthers’ home field, Bank of America Stadium.
How Does This Move Benefit the Panthers?
FanDuel isn’t the only one who will benefit from this contract. The Carolina Panthers will also receive some much-needed positive buzz after enduring an abysmal 2-15 season in 2023.
FanDuel TV has already hosted its “Up & Adams” NFL show from Bank of America Stadium, which gave both sides some positive publicity. Carolina Panthers president Kristi Coleman says she is “excited about the opportunities this partnership presents”.
It appears that both parties are already more than satisfied with the arrangement.
How Much Potential Does the NC Sports Betting Market Have for FanDuel?
FanDuel should write a ton of business in North Carolina. The state has well over 10 million folks and is home to five professional sports franchises. Also, don’t forget about all of the blueblood college basketball teams in North Carolina (UNC, Duke, NC State, Wake Forest).
Fans of these teams are chomping at the bit to start plopping down money during March Madness, so look for betting handle to be quite high right out of the gate.
Just how much sports betting handle can the Tar Heel State bring in? Some estimates say that the state could write around $400 million in wagers per year once the market matures.