FanDuel Predicts Expands Event Contracts Through Crypto.com Deal

• Through a partnership with Crypto.com, FanDuel Predicts is expanding its event contract offering
• Deal includes addition of entertainment and sports event contracts
• Partnership will run through Crypto.com’s OG Prediction Markets

FanDuel Predicts, the prediction-market arm of online sportsbook operator FanDuel, is expanding its suite of event contracts through a partnership with Crypto.com’s OG Prediction Markets.

The arrangement between the two companies paves the way for FanDuel Predicts to offer more entertainment and sports event contracts as well as “combos” – prediction market industry terminology for parlays or multi-leg wagers. The announcement arrives ahead of the World Cup, which starts on Thursday, June 11.

These additional product sets give our customers more choices by expanding the breadth of sports and entertainment contracts on our platform,” said FanDuel Vice President James Cooper in a statement.

FanDuel, a unit of Flutter Entertainment, launched its namesake prediction markets platform last December in a phased national rollout. Financial terms of the agreement with Crypto.com weren’t revealed.

FanDuel Predicts Bringing More Options to Customers

Latest data indicates that sharp bettors and “whales” are moving away from traditional sportsbooks to prediction markets because they’re limited or refused service by traditional gaming operators, but the competition for recreational bettors’ and traders’ business remains intense.

It’s possible FanDuel Predicts’ partnership with Crypto.com’s OG Prediction Markets will improve that scenario and bring more combo-enthused clients into the fold. FanDuel Predicts offers sports derivatives in states in which FanDuel does not book traditional sports wagers.

“The addition of new product sets listed at Crypto.com’s OG Prediction Markets marks an expansion for FanDuel Predicts customers who will now have access to a wider variety of markets across sports and entertainment categories complementing the existing offer of contracts available through CME Group,” according to the press release.

“This addition will also deepen customers’ ability to trade combinations of event contracts. Customers will begin to see contract offerings from both CME Group and OG Prediction Markets this week with the start of the World Cup.”

Inside OG.com

In February, Crypto.com announced the launch of OG.com, positioning the platform as the company’s standalone prediction market.

OG.com is bolstered by the parent company’s Derivatives North America (CDNA) unit, which is registered with the Commodities Futures Trading Commission (CFTC). OG.com is led by Nick Lundgren who previously served as chief legal officer of Crypto.com.

OG.com offers margin trading to qualified clients, making it one of the first prediction markets operators to do so.