After striking out on a bid to claim a cut of betting proceeds, professional sports leagues have found another way to cash in on sports gambling: selling official data. While gambling companies do not reveal how much they pay for the information, DraftKings, FanDuel, William Hill, MGM Resorts International and Caesars Entertainment have all reached deals to use official league data on their websites and apps.
The NHL has not officially taken a position on sports betting but has partnered with a number of betting sites and will have a sportsbook at its new Vegas arena. The NHL also launched a new player-engagement program with Fanatics, the well-known sports apparel and merchandise company that rolled out its own sportsbook last year.
Fanatics plans to open its first sportsbook in California next year, when the state makes legal sports betting. Many pro teams are also preparing for the future by opening spaces where fans can place bets on their mobile devices while watching games in person. The Golden 1 Center in Sacramento, for example, has a space where the Kings are testing out a betting competition with fans that awards points toward merchandise when they predict outcomes. In states with legal sports betting, several clubs have also signed sponsorships with bookmakers, such as William Hill and MGM Resorts International, that include betting partnerships. Having official league data available to bettors helps keep the books fair, particularly for in-game betting — the fastest growing segment of the industry. A difference in a few yards could mean the difference between winning and losing a bet, and having official data serve as the final word on those decisions is vital to maintaining integrity.