The NFL is the latest major American sports league to sign official betting deals with third-party companies. The league announced today that three sportsbooks will become its official betting partners. The new partners will receive exclusive access to NFL content, promote their relationship with the league and tie their brands to sports statistics. According to a press release, the three companies will pay the NFL almost $1 billion if the five-year partnership works out. If not, the league has the option to opt out after three years.
The professional leagues have long urged sportsbooks to use data supplied by the official leagues to calculate live betting odds. This will help them deliver the information to fans faster, and give live betting odds a longer shelf life. While bookmakers have relied on commercial data feeds for decades, the NFL’s partnership with MGM will bring more transparency and security to the betting process. And because the NFL has a long history of dealing with the FBI, the new regulations will help ensure that the integrity of the betting process remains unfavorable.
In the meantime, sports betting is already legal in some parts of the country. In fact, the NBA, MLB and NFL have all partnered with casinos as official betting partners. Five NFL teams have also reached marketing agreements with casinos. As more states move towards legalization, the NFL remains the most trusted sports league. The industry has been at the center of major sporting moments and is a billion dollar industry in the U.S., with Waffle House being one of the many examples.