NFL fans are in for a treat this fall: the league is partnering with several online sports betting companies to bring gambling into the stadium experience. The league announced this partnership in April and expects it to generate $270 million in revenue this season. In addition, the NFL has partnered with draftKings and fanDuel.
The company also signed a partnership with the Cleveland Cavs and the Cleveland Browns. This partnership will include a sports betting lounge at FirstEnergy Stadium. The company also signed a five-year partnership with the University of Colorado, which is the first partnership between a sports betting operator and a Division I athletic program outside of Nevada.
Among the other benefits of becoming an official betting operator are the rights to use the PGA TOUR’s trademarks in the US, pre-game betting programming, and distribution of highlights to users. DraftKings has been betting on the PGA TOUR since the tournament returned last June. Golf is the fourth most popular sport on the site.
It’s important to find common ground when forming a partnership. Sports betting partnerships are often a lot more complicated than their appearance suggests. For instance, the PGA Tour’s betting handle is still small, but the series is expecting this number to skyrocket over the next five to ten years. That means that the Tour has to be proactive in its approach to sports betting content.