Official betting partnerships are a growing trend in the sports betting industry. They’re a great way to bring industry leaders together and expand their brand reach. In the US, the NFL has signed deals with DraftKings, FanDuel and Caesars Entertainment. This allows these partners to incorporate their betting content into NFL Network broadcasts starting this fall.
A major step in making a partnership work is finding common ground. While announcements of these deals tend to focus on the basics, it’s vital to remember that there’s more to a sports betting partnership than meets the eye. For example, the PGA Tour’s Scott Warfield points out that although PGA Tour events currently only account for a small portion of the betting handle in the U.S., that number is expected to grow substantially over the next five to 10 years. Because of this, the PGA Tour needs to be proactive when it comes to developing sports betting content.
Until recently, sports betting in the US was illegal. But it wasn’t long before it was exposed, as a case involving Calvin Ridley’s suspension from the NFL. He had reportedly bet $4,000 on an NFL game. As a result, sports betting has become almost unremarkable in American professional sports.