NFL Announces Official Betting Deals With Sportsbooks
The NFL is one of the last American sports leagues to announce official betting deals with sportsbooks. The NFL has announced a three-year deal with three sportsbooks to provide official data and a marketing program. The NFL expects to generate $270 million in revenue this year from the partnership. In return, the NFL will get official league data and can promote the partnership by tying its brands to online and on-air statistics.
The league has also partnered with DraftKings, a fantasy giant turned bookmaker. In addition, Fox Sports announced last week that it will begin taking sports bets on NFL games. The deal also provides the league with opportunities to integrate sports-betting content into other media platforms. The Detroit Tigers also have a deal with PointsBet, which gives the company branding at Comerica Park and access to the Tigers’ radio network.
The NFL has concluded that ideal sports gambling legislation would include substantive licensing requirements, clear markets, and protection for consumers. It would also ban insider betting and place the onus on operators to prevent it. However, to reach this goal, the league needs the backing of the 32 NFL team owners. The owners of these teams fall into four groups.
For a sports betting partnership to be effective, it should be proactive, and look for common ground. While sports betting partnerships typically focus on the details, there is often more than meets the eye. For example, Scott Warfield, vice president of gaming for the PGA Tour, says that PGA Tour events currently account for a small part of states’ betting handle, but the sport is expected to grow in size over the next five to 10 years. As such, the PGA Tour must embrace proactive strategies in promoting its events and content to attract sports betting fans.