The deal marks the first time a sportsbook operator has integrated a sponsorship with a major brand. FanDuel and Bud Light are both official sponsors of the Denver Broncos.
Bud Light and FanDuel initially entered a partnership back in May for a free-to-play contest.
“Colorado has embraced sports betting in an amazing fashion and we think it’s the perfect place to partner with the Broncos and Bud Light to bring customers America’s first branded sportsbook,” said FanDuel Group CMO Mike Raffensperger. “This is an incredible example of how brands like Bud Light can work with an operator and sports team to reach fans in the most engaging environment across the sports landscape.”
Since launching sports betting in May, Colorado has quickly become one of the fastest growing markets. In October, the state generated a record $211m in wagers as well as $17.4m in revenue, which more than quadrupled September’s hold.
Sports wagering handle may have been even higher if not for the Broncos’ downtrodden season. Nonetheless, the NFL team is optimistic that the new partnership will accelerate the spread of the Colorado market.
“Legal sports betting is an ultra-competitive and fast moving category,” said Brady Kellogg, Denver Broncos’ SVP of Corporate Partnerships. “As a first mover in the category within the NFL, it’s incumbent on us to help bring fresh new activations to the market to separate our partners from their competition. We were excited to join FanDuel on this innovative course to benefit our fans as well as our great partners at Bud Light.”
