During the past three years, sports betting partnerships have rapidly spread across the United States. The NFL, MLB, PGA Tour, NBA, and NHL have all struck deals with betting operators. These partnerships are not one-time deals, and instead represent a portfolio of extensive relationships.
A sports betting partnership can involve more than meets the eye. Companies align on a common vision, and equip one another with complementary components. This can produce mutually beneficial relationships.
For example, the NFL has struck first international sportsbook sponsorships in Germany, Latin America, and the United Kingdom. The league is also in the process of striking new deals with several sportsbooks. These partnerships are expected to generate a total of $270 million this year.
Several states have passed sports betting legislation, but most have yet to budge on their opposition to the practice. Still, a sports gambling bill is on the horizon in Washington, D.C. and several more states are poised to legalize sports betting later this year.
One of the most successful sportsbooks in the United States, DraftKings, has agreed to become the official sportsbook for the UFC. The company will also become the first sportsbook to offer free-to-play UFC games in the United States. In addition, DraftKings will use official NBA trademarks on its sportsbook mobile app, as well as in physical sportsbooks locations.
Sportsbooks have become the “financial-services brokers” of sports betting, seeking liquidity and “vig” to take bets. Using data from official league sources would help sportsbooks deliver a better product. It would also increase the sports book’s reliability.