The NFL is the latest American sports league to enter a partnership with a sports book, with three books recently announced as its official betting partners. These partnerships give sportsbooks access to official league data, while also allowing them to build a relationship with the league and tie their brands to team stats. The five-year deal would net the league almost $1 billion in revenue, although it is possible for the NFL to opt out after three years. If the league decides to opt out after three years, it may be wise to explore other options, including the possibility of signing direct betting deals with other sports leagues.
The NFL has been working with sports betting operators to develop legislation that would allow them to legally offer bets on major league sporting events. Their ideal sports gambling legislation would include substantive licensing requirements, create clear markets, and protect consumers. In addition, the NFL would prohibit betting by insiders and place the onus on operators to prevent such behavior. In order for this legislation to pass, it would need the backing of all 32 owners of NFL teams. The owners of these teams fell into four categories: pro, con, and minority.
DraftKings, a mobile sports betting giant, is also a potential candidate for a partnership. It is a new venture that is expected to launch in New York on Monday. It will be the official betting partner of the Knicks, Rangers, and Madison Square Garden, and will offer VIP experiences in the arena. Moreover, the partnership will include world-class experiences on MGM Resorts properties, including the New York Mets.