Official betting gives sports fans an opportunity to place wagers on games without leaving their seats. While the odds can be confusing, official betting makes it easier for fans to place wagers. The NFL, for example, has partnered with betting operators to integrate gambling content into broadcasts and stadium experiences. The league expects to generate $270 million in revenue through official betting this year. The NFL has also opened its doors to other sportsbooks for similar partnerships.
The NFL concluded that an ideal sports gambling legislation would include substantive licensing requirements, clear markets, and consumer protections. In addition, it would prohibit betting by insiders and place the onus on betting operators to prevent insider betting. But in order to make these proposals a reality, the league needed the support of all 32 owners of NFL teams. The owners of those teams fall into four groups:
Official betting partnerships are becoming more common, with many companies joining forces to attract customers. The NFL, MLB, and NBA, for example, all have partnerships with official sports betting companies. Caesars also recently closed on a deal with William Hill, rebranding the sportsbook as Caesars Sports. Such partnerships are mutually beneficial, as both companies align their visions and equip each other with complementary components.
DraftKings is a daily fantasy sports product available in seven countries internationally. It is the official daily fantasy partner of the NFL, MLB, and PGA TOUR. The company also owns VSiN, a multiplatform network with exclusive rights to broadcast games.