The 149th running of the Kentucky Derby at Churchill Downs will be the final without legal sports betting in Kentucky. Under the state’s sports betting law, up to 30 sportsbook apps can eventually launch in Kentucky.
But just one platform is a Kentucky Derby sponsor, gaining invaluable exposure at the perfect time.
The company that owns half of the US sports betting market, and will soon join the Kentucky sports betting market, is one of 27 sponsors and partners for the 2023 Kentucky Derby.
How FanDuel became a Kentucky Derby sponsor
Churchill Downs Inc. signed a multi-year deal with FanDuel in September 2022 in which CDI would provide technology and broadcast access to FanDuel Racing Kentucky. Also part of that deal: FanDuel gained nonexclusive sports betting sponsorship rights for the Kentucky Derby, beginning in 2023.
FanDuel has naming rights to the Starting Gate Rooftop Garden, an upscale outdoor suite viewing experience at Churchill Downs with several bars and food offerings.
FanDuel TV will broadcast the Kentucky Derby, pushing its parent company ahead of all other Kentucky horse betting apps. It also aired all the prep races for the Kentucky Derby.
DraftKings is also partnered with CDI, TwinSpires
CDI is also partnered with DraftKings. Under the companies’ multi-year agreement signed November 2022, CDI subsidiary TwinSpires is providing advanced deposit wagering (ADW) technology to DK Horse, DraftKings’ horse betting app. TwinSpires is also its own separate horse race betting app. It is the official horse betting partner of the Kentucky Derby.
Does CDI’s new agreement with DraftKings open the door for some DK Horse visibility due to its partnership with TwinSpires?
That doesn’t appear to be the case.
In CDI’s press release announcing its 2023 Kentucky Derby sponsors and partners, it makes no mention of DraftKings Sportsbook or DK Horse when it lists TwinSpires. Here’s what the press release says:
“TwinSpires.com continues their presence as the official betting partner of the Kentucky Derby. The TwinSpires.com activation centers will have handicapping products, runner information and fan-favorite contender buttons. The marquee activation area will be located in the infield, with a unique racebook atmosphere and hospitality amenities.”
Future of sports betting in Kentucky
Gov. Andy Beshear signed the Kentucky sports betting bill into law in March. It stipulates that the state’s nine horse racetracks and the Kentucky Speedway can run retail sportsbooks. They can also partner with up to three Kentucky online sports betting apps.
Logic says FanDuel will secure one of those partnerships due to its relationship with CDI. It may also get retail branding at the Churchill Downs sportsbook, unless CDI wants to try to revive TwinSpires as a sports betting platform in Kentucky.
