FanDuel’s been busy on multiple fronts lately. The company just contributed $25,000 to thoroughbred aftercare through their annual CARMAthon fundraiser on August 16.
Andrew Moore, who runs FanDuel TV as general manager, hosted the sixth annual event. It raised over $200,000 total for retired racehorse care.
Meanwhile, FanDuel Sports President Mike Raffensperger announced they’re entering Missouri through a partnership with St. Louis City SC. That deal got finalised August 15.
Why FanDuel’s Doubling Down on Racing Support
“It is important to us to continue to give back to the horse racing industry through numerous charitable initiatives each year,” Moore explained. The company sees racing as more than just betting content.
CARMA helps fund over 20 thoroughbred aftercare charities. These groups help retired racehorses transition to second careers off the track.
FanDuel’s charitable work extends beyond just horse racing. They also support the Permanently Disabled Jockeys Fund and other safety initiatives for racing community members.
What These Developments Mean Operationally
The CARMAthon showcased stories of retired racehorses thriving in new roles. It’s become an annual tradition for FanDuel TV’s programming schedule.
Missouri represents a significant new market opportunity. “Missouri is home to some of the most passionate sports fans in the country,” Raffensperger said.
But FanDuel’s entering through market access rather than a direct license. The state Gaming Commission awarded direct licenses to DraftKings and Circa Sports instead.
The St. Louis City SC partnership gives FanDuel the legal pathway they needed. Soccer’s growing popularity in Missouri makes this a strategic sports partnership too.
How This Reflects FanDuel’s Broader Strategy
The charitable initiatives help build goodwill within racing communities where FanDuel operates. That’s valuable since racing provides significant content for their platform.
Missouri’s entry comes after voters barely approved mobile sports betting in December 2024 – just 50.05% supported it. FanDuel’s moving quickly to establish market presence despite not getting a direct license.
“We look forward to supporting the team and engaging with the community as we bring America’s #1 Sportsbook to fans across Missouri,” Raffensperger noted.
The combination of charitable work and market expansion shows FanDuel trying to balance community relationships with aggressive growth. They’re using different strategies – direct giving in established markets, partnerships for new market access.
Both moves happened within days of each other, suggesting coordinated efforts to strengthen their position heading into football season.
