The NFL is the latest professional sports league to sign official betting agreements with sportsbooks. In a move to increase revenue, the NFL will be allowing betting content to seep into broadcasts and stadium experiences. The league announced these deals in April and expects to generate $270 million this year. A few years ago, ESPN and other media companies were wary of gambling content on NFL broadcasts, but now they’re jumping in headfirst. In fact, Fox recently announced that it will launch its own sportsbook, Fox Bet. ESPN is also partnering with Caesars and building a Las Vegas set for gambling content. But so far, the NFL has been cautiously approaching betting content. For example, it has done research on fan preference and found that sportsbook apps were preferred by most fans, while in-stadium betting kiosks were disapproved by fans.
In addition to being the Official Betting Operator for the PGA TOUR, bet365 will also be its official partner in Ireland, Canada, Australia, and the United Kingdom. The deal will grant bet365 rights to use PGA TOUR marks, advertise on TOUR media, and on partner platforms. The deal will also help the company expand its business in the US and abroad.
It’s crucial to find common ground when forming a sports betting partnership. Announcements usually focus on the simple details of a deal, but there’s more to these relationships than meets the eye. For example, Scott Warfield, vice president of gaming for the PGA Tour, says that the tournaments currently only make up a small portion of the betting handles in states, but that figure will rise substantially over the next five to ten years. As a result, the PGA Tour must continue to take an active role in sports betting content to remain relevant in the years ahead.