As the legal US sports betting industry continues to expand, the biggest players in the game are also looking to grab a bigger piece of the market. One way to do this is through various strategic partnerships with both pro and college sports leagues.
As the most popular pro betting league in the US by far, the biggest prize would be a sponsorship deal with the NFL. Earlier this month, the league announced a trio of official partnerships with DraftKings, FanDuel and Caesars Entertainment.
This announcement created quite a bit of a buzz across multiple industries. It also caught the interest of investors as it pertains to the stock price of all companies.
Each of these US books are now “official sports betting partners” of the NFL. All three companies entered into multi-year agreements. As part of the deal, these three betting partners will have access to the coveted NFL trademark for various promotional activities.
Even more interesting is the development of free-to-play games that will incorporate the league. All three companies will be launching their own games aimed toward attracting NFL fans.
This is a win-win for each party. The NFL offers a very loyal fan base when it comes to any official partner status. These three books offer an excellent way for the NFL to leverage its brand among a growing segment of the US market – sports bettors of legal age.
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All three sports betting companies will also have the ability to integrate “relevant sports betting contents” into various NFL media properties. This includes NFL.com as the official website of the league.
This collaboration will add NFL content to each book’s betting platform as well. The NFL’s official data feed can be accessed by all three partners.
Caesars Entertainment will be expanding its current partnership with the league as the official casino sponsor of the NFL. This is extremely relevant with the expected expansion of online casino gambling apps. These are currently legal in five states including major sports betting markets in New Jersey, Pennsylvania and Michigan.
DraftKings also renewed its exclusive deal with the league as the “official daily fantasy partner” of the NFL. The company has the opportunity to work with the league on integrations with NFL media properties such as the NFL RedZone.
Flutter Entertainment is the parent company of FanDuel. This will be its first strategic partnership with the league. There is widespread speculation that FanDuel could go public in the US through an Initial Public Offering (IPO).
Part of the deal with FanDuel includes rights to NFL game footage. It also includes a collaboration for pre-game opportunities with the NFL Network ahead of seven games in the 2021 regular season.
Getting on board early with the NFL could prove to be a significant edge in what has quickly turned into a highly competitive marketplace. Right now, there are 20 states plus the District of Columbia with legal sports betting in some form. Mobile betting through a sportsbook app is available in 15 different states.