Official betting deals are becoming more prevalent in the sports world. With a Supreme Court decision overturning the Professional and Amateur Sports Protection Act, many states have now legalized sports betting. But what are the pitfalls?
Sports betting operators have embraced the growth with open arms. Some of them have secured partnerships with leagues, but the NFL is the last American sports league to sign official betting deals.
The PGA Tour has announced an expansion of its multi-year marketing partnership with DraftKings. And betPARX has teamed up with the Memorial Tournament to sponsor mobile sports betting.
Meanwhile, the NFL has struck international sportsbook sponsorships in Australia, Germany, and Latin America. Caesars Entertainment is now the exclusive sportsbook partner of the Arizona Diamondbacks. It will rebrand itself as Caesars Sports.
This fall, the NFL will incorporate betting content into its broadcasts. In addition to selling six sportsbook commercials per game, broadcasters will add spreads and lines to the bottom of the screen. As a result, it is estimated that this year’s revenue will reach $270 million.
The NFL has already cut deals with an analytics firm, a video licensing firm, and other companies. All three will have access to the league’s official data and video content. They will also be able to market the relationship and promote the NFL’s relationship with sports betting operators.
Last year, ESPN Plus offered a gambling theme simulcast during their Sunday NFL broadcasts. Now, they are taking a more aggressive approach to sports betting content. Their sportsbook, Fox Bet, will also feature a studio analyst, Terry Bradshaw, who will offer fans a chance to win money.