BOSTON--(BUSINESS WIRE)--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.
About The Basketball Tournament
Now in its seventh year, The Basketball Tournament has grown from a unique idea among friends to one of the most exciting and engaging events on the summer sports calendar. TBT 2020, shown live on the ESPN networks, will feature 24 teams competing at Nationwide Arena under quarantine culminating in a winner-take-all $1 million championship game. Every year it attracts some of the best players in the world. For more information, visit www.thetournament.com.
About FanDuel Group
FanDuel Group is an innovative sports-tech entertainment company that is changing the way consumers engage with their favorite sports, teams, and leagues. The premier gaming destination in the United States, FanDuel Group consists of a portfolio of leading brands across gaming, sports betting, daily fantasy sports, advance-deposit wagering, and TV/media, including FanDuel, Betfair US, and TVG. FanDuel Group has a presence across 45 states and 8.5 million customers. The company is based in New York with offices in California, New Jersey, Florida, Oregon, and Scotland. FanDuel Group is a subsidiary of Flutter Entertainment plc, a leading international sports betting and gaming operator and a constituent of the FTSE 100 index of the London Stock Exchange.