The Kentucky Derby has always been a key moment on the horse racing calendar. To that end, it’s been extensively covered by FanDuel TV, including in the channel’s previous incarnation as TVG. But this year marks a milestone for FanDuel, with it being not just the 150th Run for the Roses, but also the first time where online sports betting is legal in Kentucky. To that end, FanDuel’s multiyear agreement with Churchill Downs (struck in 2022) to offer single-account, single-wallet betting and also air other live races from the track is rather important.
Ahead of Saturday’s race, FanDuel general manager of racing Andrew Moore and FanDuel TV executive producer and senior vice president Kevin Grigsby spoke to AA via email about the Kentucky Derby, the state of horse racing overall, and the importance of their deal with Churchill Downs (which started in 2022 and expanded last summer as part of FanDuel gaining market access into the newly-opened Kentucky market). To start with, Grigsby said airing live races from there is key for the network.
“This newly signed multiyear partnership with Churchill Downs is mutually beneficial for both parties, both Churchill Downs and FanDuel. Airing live races from Churchill Downs truly solidifies that FanDuel TV is THE home of horse racing on a daily basis. It is disingenuous to call yourself the home of horse racing if you aren’t showing live races from one of America’s most iconic racetracks such as Churchill Downs.”
Beyond the live races, FanDuel TV has been airing coverage from Churchill Downs all week. Grigsby said being on location there is an important differentiator there, and helps them show off the top talent they have.
“FanDuel TV has the best on-camera talent roster when it comes to horse racing, bar none. Our experts cover these horses for months coming into the Derby and can see the little things in their races, training sessions or personality that no other coverage team can. Viewers and bettors are coming to our team for their expert handicapping and picks.
“Churchill Downs has made a huge investment into making the Derby the best it can be, and we want to deepen that investment by contributing our live broadcasts. Being on live-on-location provides access to trainers, jockeys and owners for incredibly deep insight you cannot get anywhere else. We also collaborate with NBC where needed. NBC is the gold standard at covering horse racing at the highest level.”
Why is [Fierceness] the favorite to win the #KentuckyDerby? (+250)@ChristinaFDTV breaks it down 🗣️
All @FDSportsbook customers will have access to a “$20 No Sweat Bet” on the Kentucky Derby ➡️ https://t.co/OwQG5Q9RIP pic.twitter.com/H2E2HXZxiY
— FanDuel TV (@FanDuelTV) May 2, 2024
The Derby itself stands out from the pack of horse racing events each year. And Moore said some of that is about its tradition.
“The Kentucky Derby is one of the greatest traditions in all of sports. The Derby is unique in that is has been going on for 150 years, so the longevity certainly drives mass appeal for this year’s race in particular. Churchill Downs continues to invest to make the event better each year for fans on-site and those watching at home.”
Along those lines, FanDuel TV’s Michael Joyce recently spoke to Comeback Media’s Jessica Kleinschmidt on the Short and to the Point podcast about just what’s so special about the race:
Grigsby said another element of the Derby’s prominence is the difficulty of making the race (which has been seen in stories about some unusual owners who have horses there this year, including ex-MLB star Jayson Werth)
“The race looms so large in my mind because of just how hard it is to get into the Derby,” Grigsby said. “Around 20,000 thoroughbred horses are born each year, and they only have one chance to even qualify for the Derby since the field is limited to only 3-year-olds. It’s an incredibly long journey just to get there, and it all comes down to two minutes.”
Grigsby said the Derby is an excellent opportunity to bring in casual fans and get them more interested in horse racing.
“The barrier to entry into horse racing is intimidating, but what the Derby offers is unique storylines that can get people to fall in love with the sport. The Derby offers a unique opportunity to give previously intimidated fans a glimpse into the sport. At FanDuel TV, it’s ultimately those storylines that provide a halo effect for the sport year-round and help covert casual watchers into life-long fans.”
That’s reflected in FanDuel TV’s coverage as well, where in addition to specific horse racing experts, they’ve again brought Kay Adams and her Up and Adams show in for live-on-location broadcasts:
Good morning from Louisville!!! @UpAndAdamsShow Day 1 at the #KYDerby starts NOW 🙌
Come hang ⤵️ @heykayadams https://t.co/cMvJS4kES5 pic.twitter.com/3maMW0t5oD
— Up & Adams (@UpAndAdamsShow) May 2, 2024
Grigsby said part of that is because the Derby is the second-most important event of the year for FanDuel, both from a betting perspective and from the perspective of the channel.
“Outside of the Super Bowl, the Derby is the biggest acquisition opportunity we have with a single sporting event for both the FanDuel Sportsbook customer and the FanDuel TV viewer. We make deep investments for this week to show our audience that FanDuel is the one stop shop for all things horse racing.”
He said horse racing remains key to their overall approach, and the legalization of online betting in Kentucky (where they draw notable numbers) will only help boost that further.
“Given FanDuel TV’s audience and heat map of viewership consumption, we index quite high in the state of Kentucky. That has justified our content strategy to continue to center our programming around horse racing while also diversifying into sports betting.”
Moore said Kentucky is important, as it’s one of the strongest states for racing.
“The state of horse racing differs from state to state. Focusing in on Kentucky, the state of horse racing is very strong there where they stand the best stallions in the world, have multiple top class venues for an engaged local fanbase to attend and have excellent purses for participants.
“Elsewhere, the sport still is very healthy when it comes to top meets such as Oaklawn, Saratoga and Del Mar. But on a day-to-day basis there are greater challenges introducing new customers to the sport. And that’s why the Derby is such a pivotal event in the calendar.”
Moore said it’s also vital how Churchill Downs has invested in supporting the race.
“Churchill Downs has made major investments to not just make the Derby a major horse racing event, but a major sports and entertainment event. They put on a fantastic show with over 150 thousand in attendance. FanDuel is very proud to be partners with them and for the Kentucky Derby.”
And he said there’s more opportunity there on the betting side as well thanks to that legalization.
“Having legalized online betting in Kentucky has huge opportunity but is still very early in the game. FanDuel was the first and is still the only sportsbook to offer wagering on horse racing with a single account and single wallet.
“It is a huge asset for us, especially since the competitors don’t have it. Everyone in Kentucky is aware of the Derby, but may not have wagered on it in the past because it was less accessible through traditional ADWs [advance-deposit wagering].”
Moore said that single account, single wallet approach is a key distinction for FanDuel in drawing in those newer to the sport.
“FanDuel being the only sportsbook to offer wagering on horse racing with a single account and single wallet has massive impact in its ability to introduce horse racing to a new cohort of fans. Previously, there were several friction points preventing the casual sports bettor to wager on horse racing.
“For our competitors, that means downloading a different app, sometimes signing up with a new account and funding that new account with money not tied to your sportsbook account. It’s a far easier experience for a customer of FanDuel and a huge differentiator for us in the market.”
Moore said the experience focus there also extends to their TV content, welcoming in new viewers while still serving experts.
“We strive to give our customer as good experience as possible. That starts with trying to make the race as interesting as possible by making the content accessible and easy to understand. We want the betting experience to feel seamless as well. From logging in, to placing a wager or providing generosity, these all have impact on creating a positive experience for our customers to return and become regular horse racing fans and viewers.”
