What TVG does

TVG, founded in 1993 and headquartered at 2373 NW 185th Ave, Suite #720, Hillsboro, Oregon, is an online horse racing betting and live streaming platform now operating as FanDuel Racing under the FanDuel Group. The platform serves horse racing bettors, handicappers, and casual racing fans in the U.S., providing pari-mutuel wagering and live video coverage from more than 300 racetracks globally, including Churchill Downs, Royal Ascot, Woodbine, and Meydan. Core products include the TVG/FanDuel Racing betting platform, FDTV (FanDuel TV) live streaming, a handicapping suite (paid past performances from DRF, Equibase, and Trackmaster; free PPs; race replays; and TVG Picks from in-house experts), and educational content (Horse Racing 101, Horse Betting Guide). Underlying technology comprises real-time pari-mutuel odds processing, live video streaming infrastructure, geolocation-based regulatory verification, and a unified wallet shared across FanDuel Racing, FanDuel Sportsbook, and FanDuel Casino.

TVG's revenue model is transaction-based, monetized through a percentage takeout on pari-mutuel wagers placed across its network of advanced deposit wagering (ADW) accounts. As one of the largest ADW operators in the United States, TVG generates handle on major events including Kentucky Derby day, where expected industry wagers were approximately $349 million. The company goes to market as a digital-first, self-serve consumer platform accessible via web and mobile, with cross-promotion and wallet-level cross-sell into the broader FanDuel ecosystem. Pricing is not publicly disclosed; odds are determined dynamically by the pari-mutuel pool, and wagers include single-race (win, place, show, exacta, trifecta, superfecta) and multi-race (Pick 3 through Pick 6) bet types. Leadership is anchored by CEO Stephen Burn.

Name

TVG

Legal name

TVG

Website

https://tvg.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

TVG, now FanDuel Racing, is an online pari-mutuel horse racing betting and live streaming platform serving U.S. bettors with wagering access to over 300 global racetracks, integrated handicapping tools, and a unified FanDuel wallet.

Ownership category

akta.pro rank

Product category

Online Horse Racing Wagering

NAICS

Gambling Industries (7132), Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (5162)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Online Horse Racing Betting (Advance Deposit Wagering/ADW) (MPAEADAD)

akta.pro secondary industries

Horse Racing Media, Data & Handicapping Content (MPAEADAF), Sports Streaming Platforms (MPACAAAE)

Keywords

• Horse racing betting
• Parimutuel wagering
• Live racing streaming
• Handicapping data
• Online racebook

Headquarters

HQ city

Beaverton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Pari-Mutuel Wagering Takeout: TVG operates under a pari-mutuel betting system where the track takes a percentage (takeout) from the total pool before paying out winners. Bettors play against each other, not the house. The platform generates revenue through a percentage of each wager placed on races across its network of tracks.
2. Advanced Deposit Wagering: One of the largest advanced deposit wagering operations in the country, allowing users to fund accounts and place bets across multiple tracks from a single platform
3. Cross-Platform Integration Revenue: Revenue generated through integration with FanDuel Sportsbook and Casino, leveraging unified wallet system to cross-sell betting products

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

TVG, branded as FanDuel Racing, is an online horse racing wagering and live streaming platform that lets users place pari-mutuel bets on races from more than 300 tracks worldwide. The service combines real-time odds, a handicapping data marketplace (Handicapping Store), and live race video, and operates as the racing vertical of FanDuel Group.

Product overview

TVG (now FanDuel Racing) operates as a unified online horse racing betting and streaming platform featuring core products including the TVG betting platform, FDTV (FanDuel TV) live streaming channel, and a comprehensive handicapping suite. The platform streams live coverage from over 300 racetracks globally and provides integrated betting with real-time odds through a unified wallet system across sportsbook and casino products. The product portfolio includes Racing Schedule and Results for tracking daily events, Track Information for every covered racetrack, a Handicapping Store (with paid past performances from DRF, Equibase, Trackmaster) alongside free past performances, Race Replays, and TVG Picks (expert selections). Educational offerings include Horse Racing 101 and a Horse Betting Guide. Users can wager using various bet types including single-race bets (win, place, show, exacta, trifecta, superfecta) and multi-race bets (double, Pick 3 through Pick 6), all processed through a pari-mutuel system.

Differentiator

Problem solved

Functional benefit

Products and services

• FanDuel Racing (TVG)

Quantifiable outcome

• Streams live coverage from 300+ racetracks globally
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• FanDuel RacingflagshipOEM/ Whitelabel/ Licensing PartnerTVG was acquired and rebranded as FanDuel Racing, operating as part of the FanDuel Group's horse racing betting division. The platform now integrates with FanDuel Sportsbook and Casino products, sharing a unified wallet system across the FanDuel ecosystem.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• DraftKings: DraftKings is a leading US online sportsbook that has integrated horse racing pari-mutuel wagering into its platform, positioning itself as a broader-portfolio incumbent encroaching on TVG's ADW niche.
• BetMGM: BetMGM is a major US online sportsbook (joint venture between MGM Resorts and Entain) that has expanded into horse racing, competing with TVG for cross-sport online betting customers via an integrated sportsbook + racing offering.
• BetRivers / Rush Street Interactive: BetRivers (Rush Street Interactive) is a US online sportsbook and casino operator that has integrated horse racing into its offering, serving as a multi-product competitor to TVG in regulated US betting markets.
• Churchill Downs Incorporated: Churchill Downs Incorporated owns the Kentucky Derby venue plus TwinSpires (ADW) and a portfolio of racing properties, making it a broad incumbent competitor with both track ownership and online wagering overlapping TVG's business.
• Caesars Sportsbook: Caesars Sportsbook is a large US online sportsbook that has added horse racing wagering, leveraging its national brand and rewards ecosystem to compete with TVG among mainstream betting audiences.

Direct peers

• Xpressbet: Xpressbet is a multi-track ADW horse racing wagering platform with live streaming and handicapping products, competing directly with TVG for online pari-mutuel handle across the US horse racing market.
• NYRA Bets: NYRA Bets is the official ADW platform of the New York Racing Association, providing online pari-mutuel wagering on US and international horse races with handicapping content — directly comparable in product scope and ADW model to TVG.
• AmWager: AmWager is an online ADW horse racing betting operator offering wagering on US and international tracks with simulcast and handicapping features — a direct smaller-scale ADW peer to TVG.
• TwinSpires: TwinSpires is the ADW and horse racing betting platform operated by Churchill Downs Incorporated, offering online wagering, live streaming, and handicapping tools across US racetracks — the most direct head-to-head competitor to TVG/FanDuel Racing.

Others

• FanDuel: FanDuel is TVG's parent brand and the largest US online sportsbook; relevant as the strategic owner that distributes TVG content via its unified wallet and FDTV channel.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/TVG

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TVG