Paddy Power taps into FanDuel asset with UK DFS launch
Paddy Power Fantasy now live in the UK and Ireland, offering access to FanDuel’s pools in the US
Paddy Power has launched a new daily fantasy sports (DFS) product in the UK and Ireland, which will offer customers access to FanDuel’s pools in the US across a number of different sports.
Paddy Power Fantasy, which is yet to appear on Paddys’ homepage, went live in the last few days and marks the operator’s first entry into DFS outside the US since its parent company acquired FanDuel last year.
Something is coming…
— Paddy Power Fantasy (@PPFantasy) August 23, 2019
Customers can use their preexisting Paddy Power account and account funds to enter contests on English Premier League football, American football, basketball, baseball, hockey, tennis and golf.
The use of FanDuel’s existing liquidity in the US will also enable Paddy Power Fantasy players to enter this weekend’s NFL Sunday Million which has a £3.5m pot for a £9 entry fee for the first week of NFL games.
Paddy Power Fantasy allows players to tap into FanDuel’s US pools
FanDuel’s fantasy sports offering was previously live in the UK market but was withdrawn in 2017 after the soccer-only product was hindered by a lack of liquidity.
Rival DFS firm still offers UK customers a DFS product for a number of sports, with access to its US pools.
Flutter Entertainment-owned FanDuel has made significant strides in the regulated US sports betting market since the repeal of PASPA last year and now accounts for approximately half of the New Jersey betting market.
Earlier this month Flutter reported US pro forma revenue had climbed 55% to £160m, but warned it would take a £55m EBITDA loss to aid further investment in customer acquisition.
“We are delighted with our US performance and have been encouraged by the regulatory momentum that has seen 10 states regulate online sports betting since the repeal of PASPA,” Flutter CEO Peter Jackson said.
“Cross-sell is an important contributor to our success, with around half our customers in New Jersey coming from our existing daily fantasy business, while strong cross-sales have delivered 15% market share in online casino.”