With more major sports coming back soon, FanDuel is hoping to lure back daily fantasy sports players.
One of the world’s leading fantasy contest providers gave customers $10 of credit Tuesday as baseball, basketball, and hockey beckons.
In Michigan, players can use that credit for daily fantasy sports, a newly regulated industry statewide as of this year.
FanDuel will also be among the sports betting apps coming to the Great Lakes State soon, though bets can’t be placed online until launch.
The latest estimates peg October as a possible launch for online sports betting in Michigan, after the legislature and Michigan Gaming Control Board finish the rule-making process.
FanDuel’s $80 million surprise on Tuesday morning
FanDuel estimates the $10 bonus equals $80 million of free bets for customers.
“We are excited for the return of sports and wanted to give all of our customers a chance to get in on the action for free,” said Mike Raffensperger, chief marketing officer of FanDuel Group. “Putting more than $80 million in site credits into our customers’ accounts to enter DFS contests or to make legal sports bets is a thank you to our customers for their loyalty during this long stretch without the NBA, NHL, and MLB.”
Customers need to use the $10 credit by Aug. 2 or it will be voided.
FanDuel partners with the NHL, NBA and MLB. Those sports have been off since play was postponed in mid-March because of the coronavirus.
In addition, FanDuel is offering up to a day of risk-free betting up to $100 for users on their first day back, from Tuesday until Aug. 2.
FanDuel trails DraftKings for Michigan DFS share
FanDuel has long been synonymous with DraftKings, its chief rival for DFS, and now sports betting.
The pair have a long history of dueling for market share, a fight that continues in Michigan.
The apps could be the most popular when Michigan’s online sports betting launches.
For now, they dominate the early DFS share.
However, DraftKings has weathered the shutdown better in Michigan.
DraftKings accumulated over $380,00 of Michigan DFS revenue in April and May, a 74.1% market share, compared to $86,000 (16.8%) for FanDuel in those months.
In the year’s first three months, with pro sports mostly going as planned, FanDuel had a 42% market share.
Other companies in Michigan’s DFS space include:
- Fantasy Football Players Championship
- FullTime Fantasy Sports Network
- Fantasy Sports Shark
- SportsHub Games Network
- Yahoo Fantasy Sports
That 10-buck bonus could help spur a return of some dormant players.
Online betting market will be fierce in Michigan
The credit can only help re-activate FanDuel DFS players at a crucial time.
Not only does the MLB season begin this week with the NBA and NHL following next week, but the online sports betting market in Michigan will be very competitive.
FanDuel Sportsbook in Michigan will enter the market with access through a partnership with MotorCity Casino in Detroit, for which FanDuel also operates a retail sportsbook.
DraftKings has a partnership with the Bay Mills Indian Community for Michigan online access. In addition, apps from Barstool, BetMGM, BetRivers, FOX Bet, PointsBet and William Hill, among others, should hit the market at launch or shortly thereafter.