The NFL Announces Partnerships With Sports Betting Operators
Earlier this year, the NFL announced partnerships with several sports-betting operators, infusing their broadcasts with gambling content. The NFL expects to generate $270 million in revenue this year through official betting. It will also begin allowing sports fans to wager on games at its stadiums. To promote official betting, the NFL has partnered with DraftKings and BetMGM.
PGA Tour’s partnership with DraftKings
DraftKings and the PGA Tour are teaming up to increase their reach into the sports betting market, which has been growing significantly over the past year. The two organizations will collaborate on co-marketing initiatives and exclusive hospitality experiences. They will also use the PGA Tour’s “ShotLink” technology to create real-time video highlights of golfers in customized lineups.
The first event of this partnership is the FedEx St. Jude Invitational in Memphis. It will be held from August 2-8 at TPC Southwind. The tournament is the first of three FedEx Cup playoff events, and the winner will take home $1.8 million. It also awards FedEx Cup standings points and attracts a strong field of international players.
Increase in official betting from 2020 to ’21
Gambling on golf has exploded in popularity since the Supreme Court decision legalizing sports betting in a number of states. In the years since the decision, the amount wagered with PGA Tour official betting operators has increased by 50 percent, and total bets are up 40 percent. This growth is likely to continue, and the future of golf betting is an exciting one. However, there are still a number of questions about what the future holds for golf betting and its role in the Tour’s business.
NFL’s partnership with BetMGM
The NFL has announced a partnership with BetMGM, the digital and retail sportsbook company. The deal will make BetMGM the official sportsbook for the NFL in Canada. It will also allow BetMGM to use NFL trademarks and run television commercials during NFL games in Canada. It will also get access to league statistics.
BetMGM will be featured in the NFL’s Football Night in America pre-game show beginning in 2022. The BetMGM segment will feature live betting odds and storylines from the upcoming Sunday Night Football games. This deal also covers the NFL draft in 2023.
New York’s legalization of sports betting
In the years leading up to 2020, the state of New York considered legalizing sports betting. Legislators in the state tried to convince Gov. Andrew Cuomo to include updated language for sports betting in the state budget. However, the COVID-19 outbreak interrupted the session and other issues took precedence. As a result, the state did not legalize sports betting in 2020.
As the fourth largest state in the U.S., New York is well-positioned to become the nation’s leading sports betting market. While New Jersey is the leader in total gross gaming revenues, New York’s tax rate is more than double that of its neighbor. In fact, Eilers & Krejcik Gaming projects that New York will not overtake New Jersey until 2024, when it would have legalized sports betting.