Official betting partnerships are all over the media these days, and they are a great way for the industry’s movers and shakers to combine their resources. While some partnerships are simply one-offs, others are massive portfolios of relationships. One such example is DraftKings, which has partnered with multiple NBA/NHL teams to create an extensive range of sports betting products. These new sportsbooks allow fans in multiple states to place bets on virtually any race or game.
Since the Supreme Court’s ruling legalized sports betting in many U.S. states, wagering on golf has increased dramatically. In the 2020-2021 season alone, the amount of money wagered with PGA Tour official betting operators increased by 50 percent, while the total number of bets increased by 40 percent. And further growth is almost inevitable. Nevertheless, some questions remain, including the future of golf betting and its role in the Tour’s overall business.
The NFL is the last American sports league to sign an official betting deal. The league announced that three sportsbooks will become its official betting partners. The partners will receive official league data and will benefit from the league’s marketing campaign. They will also be able to tie their brand to online and on-air statistics. The NFL has the option to opt out of the official betting deal in years three and four, so the relationship is not permanent.
The NFL is also experimenting with gambling content on the air, including sportsbook advertisements and in-stadium betting kiosks. The league’s partners are cautiously exploring this new revenue stream. Some of them are even afraid that it will alienate casual fans. Last year, ESPN introduced a gambling themed simulcast on ESPN Plus. It is likely to continue to experiment with alternative formats. However, there are no guarantees that the gambling content will ever affect the main telecasts.