The NFL is taking a big step towards the acceptance and embracement of sports gambling. For the first time ever, the NFL will be partners with three sportsbooks. Caesars Entertainment, DraftKings, and FanDuel are now the Offical Sports Betting Partners of the NFL.
The partnerships are worth just shy of one billion dollars combined for five years. The revenue structure within the deals is not linked to the outcome of bets on league games but rather is comparable to traditional partnerships with other sponsors. The NFL has the option to exit the deals after year three and year four.
The sportsbooks receive the right to directly integrate sports betting content into NFL media properties like the app and website. League marks, logos and post game highlights could appear in the sportsbooks’ mobile apps. The three sportsbooks will also use the NFL’s official data feed and collaborate with the league on intelligence sharing, advocacy efforts, and responsible gaming education.
The NFL has opposed sports betting out of fear that it would damage the integrity of the game. Numerous sports leagues fought New Jersey’s efforts in authorizing sports betting, they all ultimately lost as the U.S Supreme Court came to a decision in 2018 to authorize sports betting. More than half of the states in the U.S have passed sports betting legislation and it is only a matter of time before every state passes legislation as well.
Renie Anderson, NFL chef revenue officer and executive vice president of NFL partnerships, had some comments on the partnerships:
As the sports betting landscape has continued to evolve in the United States, we have been thoughtful with our strategy and are excited to announce three partners who share the NFL’s vision and goals.
Renie Anderson on the partnerships, via ESPN.
The NFL has embraced sports betting and the added revenue will only help the league and the teams within it. Sports betting is growing, and will continue to grow for years to come. The NFL is smart by jumping on the train now.
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