The NFL Makes Official Betting a Reality
As more people are betting on sports, the NFL is also making official betting a reality. The NFL announced three new sportsbooks as official betting partners. The sportsbooks will receive official league data and can use that data to promote their partnership with the league and tie their brands to statistics. If the five-year deal works out, the NFL will get nearly $1 billion. If not, it can opt out after three years. Official betting will be a major part of the NFL Network broadcasts this fall.
While legalized in most states, sports betting is still illegal in some places. For example, the Atlanta Falcons’ Calvin Ridley was suspended for the 2022 season for allegedly betting $4,000 on NFL games. Despite the ban, sports betting is still a big business and can cause major financial consequences for players. The NFL is now working to develop regulations for the industry, which will help keep it fair and transparent for all stakeholders. However, the process isn’t easy.
Sports betting in Illinois began in June 2018. Until recently, players were restricted to retail sports betting options. But, that changed in December 2018 when sports betting was legalized. Now, sportsbooks in Illinois can be accessed on mobile devices as well as online. DraftKings, FanDuel, and BetMGM are among the companies that operate in the state. In Colorado, sports betting is legal and will begin on May 1, 2020. The law also allows sports betting in Las Vegas.