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Not so very long ago, daily fantasy sports sites FanDuel and DraftKings actively shunned all association to gambling. Now, both are charging headlong into sports betting, and FanDuel has ambitions in the casino space. FanDuel, you may know, is owned by one of the largest bookmakers in the world. Paddy Power Betfair recently acquired the site to serve as the face of its US operations, which include online gambling and horse betting platforms. Most notably for our purposes, the group operates the Betfair online casino in NJ. PPB has plenty of sports betting tech at its disposal, so it seemed likely that the FanDuel brand and database of players were the key selling points. A press release from the buyers confirmed as much: The transaction strengthens the Group’s opportunity to target the prospective US sports betting market through the addition of a strong brand, large existing customer base and talented team. Note the mention of the sports betting market, specifically. Then-CEO Kip Levin subsequently indicated that Betfair was “very likely” to use the FanDuel brand in the US, and that’s already coming to fruition with respect to sports betting. The first FanDuel Sportsbook is already open in NJ, and the group has partnerships in place across West Virginia and New York , too. The extent of the rebranding became clear earlier this month when Betfair US announced it was changing its name to FanDuel Group. As it turns out, sports betting was only part of the plan. Levin indicated that rebranding the Betfair online casino in NJ was also a possibility.
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