During the past three years, official sports betting partnerships have rapidly expanded across the US. This is due to the fact that sports leagues and operators are receptive to the growth of betting in the US. The key to an effective partnership is finding a common ground. Companies should work together to equip themselves with the right components to create a winning product.
The NFL has struck an agreement with Caesars Entertainment and DraftKings. This paves the way for the integration of betting content into NFL Network broadcasts this fall. The NFL also gave its official sports betting partners exclusive access to the NFL’s broadcasts and video content. In addition, the NFL has established a comprehensive integrity program that includes training for players. A number of states have legalized sports betting, including Arizona, which passed HB 2772 into law.
The NFL has also worked with gaming operators and governing bodies to determine the best approach for regulating sports gambling. This legislation should protect consumers, ensure transparency, and create clear markets. Ideally, it would include substantive licensing requirements, protect players, and create a robust consumer protection policy.
As sportsbooks seek liquidity, they have been looking for new ways to attract customers. They are also interested in securing a “vig” (the sportsbook’s cut of each bet). Some states prohibit wagers on in-state college teams, but the NFL has been careful not to take a position on this.
Official sportsbooks are expected to make $270 million this year. That figure is expected to increase by as much as $550 million next year and $1 billion by 2023. While the NFL has yet to establish its own sportsbook, it has formed partnerships with two companies that have already built the infrastructure necessary to do so.
Betting operators like FanDuel and DraftKings have worked with PGA TOUR to develop odds-based content for fans. In July, DraftKings announced its “Official Daily Fantasy Game of the PGA TOUR.”
The PGA TOUR, in partnership with Genius Sports and IMG ARENA, has licensed live scoring data and betting data to PGA TOUR’s official betting partner. Additionally, the PGA TOUR’s integrity program has been strengthened. Moreover, the PGA TOUR announced an expansion of its multi-year marketing relationship with FanDuel.
Similarly, the NASCAR has developed an official sportsbook product that enables sportsbooks to take bets on every lap of each race. It is expected that the first state to implement this product will be Maryland in December 2022.
These official betting partnerships are only the tip of the iceberg. Ultimately, the NFL has to work with its owners, teams, and leagues to address the issues of insider betting, gambling corruption, and other potential issues. However, the NFL is working with its partners to develop content and advertising that are designed to engage fans and bring them into the world of gambling.
Those interested in betting on baseball or basketball can find the best sportsbooks in Arizona. In addition to the NBA and MLB, you can also bet on horse racing. Horse racing is regulated by the Division of Racing under the Arizona Department of Gaming.