With the legalization of sports betting in many states, official betting partnerships have become a thriving industry. In some cases, these partnerships can involve more than meets the eye. These relationships provide an opportunity for companies to align on a common vision. It can also help boost fan engagement.
One of the hottest markets for sports betting is NASCAR. With a total of over 25 in-race bet-types, fans can bet on every lap of each race. This provides a highly engaging experience for fans in regulated states.
The PGA TOUR is in a similar position. As one of the newest sports leagues to get into the betting game, it has made a point of strengthening its relationship with in-play betting. A robust integrity program and multi-year content agreement were just two of the steps the Tour took to make its betting business a success.
As the only MLB team in the state, the Arizona Diamondbacks are a key partner. Caesars Sportsbook will offer MLB betting in the Chase Field ticket windows starting in September 2021.
While the NFL is the last American sports league to sign an official betting partnership, it isn’t the only one. There are a number of sportsbooks that have signed local deals. And while the NFL has an exclusive deal with Caesars, other teams may pursue a similar deal.
As the sports leagues and the sports betting industry continue to grow, it’s important to keep in mind that every relationship is different. Official betting partnerships give the industry’s movers and shakers a chance to join forces.