FanDuel to Provide TBT Betting Odds and Daily Fantasy Games for First Time Ever
BOSTON, July 1, 2020 – The Basketball Tournament (TBT) and FanDuel today announced a strategic partnership designating FanDuel as an Official Partner of TBT. FanDuel will coordinate exclusive daily fantasy basketball contests as well as offer betting odds in select states where sports wagering is legal (New Jersey, Indiana, Colorado, West Virginia) for TBT, which runs from July 4 -14.
TBT, a $1-million, winner-take-all event that has become a staple of the summer sports calendar, will take place at Nationwide Arena in Columbus, Ohio. All TBT games will air live across ESPN Networks. Daily paid fantasy contests will mirror FanDuel’s NBA product, with a $100 salary cap to be spread across two guards, two forwards and two utility players. Pricing for each TBT player will be based on statistics from previous TBT and collegiate performances. FanDuel will also provide promotional support and drive tune-in to the games, and TBT will reciprocate with signage and commercial mentions throughout the tournament.
“The Basketball Tournament has grown in stature over the years, making this the right time to offer a fantasy basketball contest for the fans who will be watching the games on ESPN,” said Mike Raffensperger, CMO of FanDuel Group. “Adding a sporting event the caliber of TBT is another way for FanDuel to provide innovative and engaging fantasy contests for real money during a time when everyone is looking for More Ways to Win.”
Jon Mugar, founder and CEO of TBT, added: “We are excited to partner with FanDuel for this year’s tournament. Interest in TBT has never been greater, with basketball fans having been on hiatus from live action since March 12. Thanks to FanDuel, fans will now be able to interact with our games on a whole new level, which is a great value add and speaks to the power of their product.”
TBT, in its seventh year, has gained in popularity with the participation of well-known former college and professional basketball players including the likes of Joe Johnson, Hasheem Thabeet, Aaron Craft, Travis Diener, Malachi Richardson and Isaiah Austin. In total, more than 40 players with NBA experience span TBT’s rosters. This year, TBT will host 24 teams over 11 days at Nationwide Arena. TBT is known for innovation with the utilization of the Elam Ending, devised by Ball State University professor Nick Elam, where the game clock is turned off with four minutes remaining and the teams play to a target score to crown the winner of each game – the NBA borrowed the ending for use in its All-Star Game earlier this year.