Official betting partnerships are a growing trend in sports betting. Not only do these deals provide a platform for industry leaders to align their interests, but they also give fans an opportunity to wager on their favorite teams and players. While many partnerships are just one-off, some are massive portfolios of relationships. In the case of DraftKings, a market leader, these deals have allowed it to expand its reach in multiple states. Nonetheless, these partnerships often require both parties to work toward common goals.
The NFL is the latest major league to sign official betting deals. The NFL has announced three sportsbooks as its official betting partners, providing fans with access to official league data, as well as promoting its relationship with the league. Through these deals, NFL teams will link their brand names to online and on-air statistics, which will help drive marketing and advertising campaigns. The NFL will also have the right to opt-out of these agreements after two years.
The NFL has also outlined an ideal sports betting legislation that would include substantive licensing requirements for operators and create a transparent market for consumers. It would also ban insider betting, which the league considers detrimental to the integrity of the sport. By requiring operators to use league data, the NFL’s ideal sports gambling legislation would protect consumers. It would also prohibit insider betting and put the onus on the operators to prevent it. However, this proposed legislation would require support from the owners of the 32 NFL teams.