NYRA, FanDuel reach last-minute agreement
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The New York Racing Association and FanDuel have reached an agreement that will restore NYRA’s signal to the company’s betting platforms, just hours prior to the opening race at NYRA’s immensely popular Saratoga Race Course in upstate New York.
Details of the agreement would not be disclosed, according to officials of both sides. The deal was described in a statement from FanDuel as a “multi-year agreement.”
The Saratoga Race Course signal is the most popular product of the summer racing season, and FanDuel operates one of the largest betting platforms in the country, along with TVG, a horserace account-wagering company.
The previous contract between the two sides expired July 1. The companies negotiated sporadically over the past ten days to bridge an impasse involving the fee paid on wagers made by residents of New York on FanDuel’s platforms. Both sides said that NYRA was seeking a higher fee on those bets than under previous agreements.
As of 2020, televised races from Saratoga have been broadcast exclusively on networks controlled by Fox, under a television partnership between NYRA and the company. However, account-wagering and sports-betting platforms have been able to make the live simulcast feed of races from Saratoga available to their customers since that deal was signed.
As part of the agreement, FanDuel and TVG will be making a “sizeable contribution” to the NYRA Foundation, a non-profit that distributes grants to New York charities associated with racing, a statement from the companies said.
NYRA races year-round, and its simulcast contracts encompass all racing conducted at NYRA properties. For the next several years, racing will be limited to Aqueduct and Saratoga while Belmont Park is undergoing renovations.
The Saratoga summer meet runs through Sept. 2, Labor Day.
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