The NFL Signs Official Betting Deal With DraftKings

Sports betting is set to become legal in several states around the country in the next decade, and the first to begin is Delaware. That state legalized sports betting in 2021, though residents will not be able to place bets until Jan. 1, 2023. That is due to a deal struck between two Native American tribes and the state government. Oregon also approved sports betting in 2021, but it didn’t start taking bets until August of the same year. Moreover, Pennsylvania’s Legislature approved an expansion of sports betting regulations, and on Nov. 1 of that year, the first sports book opened in the state, and later issued additional licenses.

The NFL is the last major American sport league to announce an official betting deal. It has recently signed a five-year deal with three sportsbooks. These partners will have access to official league data, and they can promote their relationship with the league by tying their brand names to its statistics. The NFL expects to earn nearly $1 billion in revenue from these deals, but the league can renegotiate the deal after three years. There is no guarantee that the NFL will honor its end of the deal, but if it does, the three-year deal is likely to pay for itself.

The expansion of the relationship between the PGA TOUR and DraftKings follows the Supreme Court’s decision legalizing sports betting in many states. During the Memorial Tournament, betPARX will also offer branded fan experiences during the tournament. It is a great move for golf fans because betPARX gained influence in the sport through that tournament. Moreover, the company will have access to PGA Tour intellectual property and marks. In addition, the partnership will help it promote the game by providing exclusive content for viewers.