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Memphis Grizzlies Sign Sports Betting Deal With FanDuel

A strategic sports betting deal has been signed by the NBA’s Memphis Grizzlies team and FanDuel. The new partnership was announced Monday, the day after Tennessee officially launched sports betting.

The sports betting partnership is the first of its kind for the Grizzlies, who are the first NBA team signed on with FanDuel. Tennessee is the only state thus far that has online-only sports betting. The other states that have legalized sports betting have either in-person only sports betting or a mixture of both.

The deal is a multi-year partnership and will make FanDuel the official sports betting partner of Grizzlies, and also makes FanDuel the official sports betting provider of the Grizzlies’ Daily Fantasy Sports. This deal, like many similar partnerships, could result in billions of dollars in revenue for both parties.

A Benefit for Both Sides

This deal allows FanDuel’s logos and other insignia a presence along all of the Grizzlies platforms. FanDuel has been billing itself as the top online sports betting provider, and they are considered among the top five sports betting providers in the US.

FanDuel will have exclusive signage prominently displayed at FedExForum in downtown Memphis. It also now has exclusive TV and radio rights to deliver its sports betting services to Grizzlies fans directly.

Additionally, FanDuel will be the official host of all Grizzlies home and away games, allowing fans to be interactive with the sports betting platform from the comfort of their own homes.

According to the terms of this multi-year partnership, the Grizzlies and FanDuel will be rolling out a multi-million advertising campaign blitz, offering special promotional deals to FanDuel customers, including Grizzlies t-shirts, mugs, and other official team items.

CMO Of FanDuel Says New Deal Is ‘Explosive’

“As we expand our market-leading sportsbook into Tennessee, partnering with the Grizzlies was a no-brainer given the team’s popularity and long-standing success, as well as their shared mindset of being absurdly fan-focused,” FanDuel CMO Mike Raffensperger said. “We are incredibly excited to collaborate with the Grizzlies as we bring unique promotions, product innovation, and engaging online experiences to Grizzlies fans and Tennessee sports fans alike.

“We are incredibly excited to collaborate with the Grizzlies as we bring unique promotions, product innovation, and engaging online experiences to Grizzlies fans and Tennessee sports fans alike.”

President and CEO of the Grizzlies, Jason Wexler, also released a statement, saying: ”Grizzlies fans are among the most passionate in the NBA, and we are looking forward to helping them find new ways to access their sports fandom. FanDuel has been an excellent partner in building a program that will showcase why they are one of the best sportsbooks for Grizzlies fans.”

One of the many promotional items FanDuel is offering an opportunity for Tennessee residents that sign up for a sports betting account and enter the promo code “GRIZZLIES” will receive a $20.00 bet with no deposit required.

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