FanDuel horse racing wagering may be less confusing than most apps soon. The No. 1 US sportsbook company announced yesterday that it would unite its horse racing wagering and sports betting wallet, making it the first company to create a single account for gamblers.
FanDuel says the single account is already available in:
- New York
- West Virginia
The FanDuel press release reads:
Users will be able to wager on and stream racing coverage from FanDuel TV and other racing content for which FanDuel has wagering rights. In addition to live horse racing throughout the year from top tracks across the country, FanDuel Sportsbook customers will also be able to wager on the Kentucky Derby for the first time through the integrated platform in 2023.
Why FanDuel Sportsbook’s Single Account Matters
FanDuel horse racing wagering is far from the first app to offer parimutuel bets. Even FanDuel’s sister site, TVG, has been taking bets for years.
The difference is the ease with which gamblers can wager on FanDuel Sportsbook, because horse racing is governed differently.
Horse racing is a federal matter, while US online sports betting is regulated by states. However, states can add conditions on parimutuel wagers.
For instance, while federal law allows bettors to be as young as 18, Indiana and Washington require them to be 21.
On April 8, a parimutuel wagering measure became law in Kentucky. It created a uniform 1.5% tax on parimutuel wagering and rounded winnings up to the penny.
However, with FanDuel’s single account, bettors don’t have to think about the differences between betting on horses and betting on the NFL.
As FanDuel put it yesterday:
The measure is part of FanDuel’s ongoing investment in customer experience and its continuing commitment to introduce a new generation of audiences to horse racing.
Wait. Doesn’t DraftKings Already Offer Horse Racing?
On Nov. 29, DraftKings told Bonus that DK Horse will launch “in the coming months” in 21 states, “pending all necessary licensing and regulatory approvals.”
Presumably, because of the federal vs. state law situation, DK Horse will initially be a standalone app.
The initial launch of DK HORSE will require customers to sign up and deposit funds separate from that of their one account, one wallet tethered to the DraftKings Sportsbook, Casino, and daily fantasy sports apps.
By the way, the other member of the Big Three US online gambling operators also offers parimutuel wagering. BetMGM Horse Racing works in Ohio, Louisiana, and Florida. It even has a blog.