NFL and PGA Tour Sign Official Betting Deals
Official betting deals are big business, and the NFL has signed three sportsbooks to be their partners. These deals give sportsbooks access to official league data, which they can use to promote their relationships with the NFL and tie their brand to statistics. The three sportsbooks will pay the NFL nearly $1 billion if the five-year deal holds up. However, the NFL has the option to opt out at any time after three years. It may still pursue official betting deals with the other sports leagues.
PGA Tour official betting increased by 50 percent from 2020 to ’21
Since the Supreme Court’s decision in June to make sports betting legal in some states, PGA Tour official betting has exploded. The amount of money wagered through official betting operators increased by 50 percent from 2020 to ’21, and total bets have more than doubled since then. In addition, further growth is almost certain. According to Scott Warfield, PGA Tour vice president for gaming, the future of in-play betting looks bright.
The PGA TOUR has expanded its online betting options, with a new partnership with PointsBet, the exclusive free-to-play provider. Low6 developed a free-to-play game that will be exclusive to PointsBet in the U.S. and will be designed to increase fan engagement by tying in real-time odds. There will also be a weekly cash prize of $5,000, which will be distributed to players of the free-to-play game. More information on the free-to-play game will be released prior to its January 2022 release.
Moreover, because the PGA Tour is affiliated with a sportsbook, the amount of betting revenue could skyrocket. The increased revenue could translate to massive purses and bonuses for tournament winners. In addition to that, a larger audience will increase demand for merchandise, which is expected to increase. The increase in demand will help the PGA Tour grow into a billion dollar industry.
PGA Tour official betting increased by 40 percent from 2020 to ’21
The PGA Tour has signed a three-year marketing and content partnership with bet365. As an official betting operator, bet365 will have rights to use PGA TOUR marks in the United Kingdom, Ireland, Australia and Canada. It will also have rights to run advertising on PGA TOUR media and partner platforms. The PGA Tour has a total of 40 betting partners around the world.
In the wake of the Supreme Court decision, the PGA TOUR instituted a robust integrity program. The company has partnered with Genius Sports and is licensing official live scoring data to betting operators. Additionally, the tour is a platinum member of the National Council on Problem Gambling, aligned with the American Gaming Association, and is aligned with the Have a Game Plan campaign.
The PGA Tour is also bullish on in-play betting, which is betting that takes place during an event, rather than before it starts. In-play betting, or ‘in-the-moment’ betting, is one of its most popular segments. It involves wagering during an event based on the results and live action. An example of an in-play betting situation: A threesome is approaching the final three holes. Jon Rahm is playing from 250 yards to the pin on a par-5 hole.