FanDuel Giving Every User $10 Free, Totaling More Than $80 Million in Site Credits
To celebrate the return of mainstream sports, FanDuel announced Tuesday that it will place a $10 site credit into every daily fantasy and sportsbook account.
Given that there are more than eight million accounts, it’s an on paper marketing expense of $80 million, though it’s much less considering every daily fantasy player and every bettor isn’t going to win their money back and not everyone will use the offer before it expires on Aug. 2.
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“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,” Mike Raffensperger, CMO of FanDuel Group, said in a statement.
FanDuel is also offering sportsbook bettors their first $100 back, starting Tuesday, in the form of risk-free bets throughout a day. It's not just one bet — users can place up to $100 of free bets (10, $10 bets for example) and have the money refunded if they lose.
FanDuel is the leading mobile sportsbook with a 45% share in New Jersey, the second largest betting state behind Nevada, and 49% in Pennsylvania, the No. 3 state.
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