Now that live professional sports are returning in the United States, one of the biggest online sports betting operators is putting in a big effort to bring customers back. FanDuel Sportsbook is offering several big promotions to help make up for some of the lost revenue that took place during the coronavirus pandemic.
Even though FanDuel Sportsbook is a leader in the sports betting industry, they saw a huge drop in customers and total betting over the last three months. The fact that most live sports were shut down played a major role, but the company also saw a number of their customers leave.
On Tuesday, FanDuel announced that all of its current customers were receiving a $10 credit to their account. This credit could be used on the sports betting app or used on a daily fantasy sports contest.
There are more than 8.5 million customers currently signed up for an account at FanDuel, and those customers represent 45 states in the US.
FanDuel offered this credit as a way to thank their customers for sticking by them through the pandemic. Now that live sports are back up and running, customers can use this $10 credit to begin placing bets on their favorite sporting events.
Major League Baseball resumed on Thursday, but the weekend is full of live baseball action. The National Basketball Association and the National Hockey League are set to resume play at the beginning of August.
FanDuel Sportsbook started as a daily fantasy sports provider in the United States, and its main competitor was DraftKings. The company has since expanded to offer sports betting in several states throughout the US, and they have dominated that industry.
Fans Can Get Credit For Losses
Even though the free $10 credit to every customer’s account is a nice offer from FanDuel, it isn’t the only major promotion that they are currently running. Customers can also receive some free betting options the first time that they log back into the site.
Bettors will be credited up to $100 when they log back in at FanDuel Sportsbook and make some bets on live sporting events. This current promotion is being offered until Aug. 2, and all three professional sports will be up and running by then.
FanDuel customers will have plenty of betting options by the Aug. 2 deadline for this promotion, and it would be foolish for customers to pass up on this great offer. FanDuel doesn’t usually offer many large promotions, but their competition with DraftKings has forced them to think outside the box.
FanDuel Continues to Lead Market
Even though FanDuel saw a significant decrease in total betting handle and gross gaming revenue during the pandemic, the company still outperformed its competitors. Pennsylvania has proven to be one of the biggest markets for FanDuel, and they continue to lead all of its competitors.
FanDuel Sportsbook produced an average betting handle of $27.2 million during the three full months of the pandemic, and that was well ahead of their biggest competition. DraftKings Sportsbook’s average monthly handle was just under $20 million during the pandemic.
DraftKings is actually the leader in the state of Indiana, and FanDuel Sportsbook is working to close that gap. DraftKings saw an average of almost $17 million in betting handle, while FanDuel’s average was right around $10 million.
Both FanDuel and DraftKings are expected to offer many new promotions now that live sports have returned, and they remain in a tight competition with each other. Both companies are now up and running in Colorado, and they have both received temporary licenses to operate in the state of Illinois.