The Rise of Official Betting Partnerships in the Sports Industry

There is a burgeoning number of official betting partnerships in the sports industry. These agreements give the industry’s biggest players the opportunity to partner with each other and expand their business. Many of the partnerships are not one-offs, but extensive portfolios of long-term relationships. DraftKings, for example, is one of the leading companies in the sector, and has struck numerous deals to expand its presence in multiple states.

To keep its integrity intact, professional sports leagues are looking to the betting industry to use their official league data to generate live betting odds. This will make the process easier and more efficient for the bookmakers. Furthermore, it will allow them to offer their bettors better odds. Until now, bookmakers have relied on commercial data feeds. But now, the NBA and NHL have partnered with MGM to use their data, allowing sportsbooks to use the league’s data and produce better odds.

To date, NFL media partners have been cautious and wary of alienating casual fans by incorporating gambling content. In the past, ESPN refused to use team names in gambling content. However, in recent years, many have jumped into this market. Fox is the most aggressive of the media companies, with its new sportsbook, Fox Bet. ESPN has also partnered with Las Vegas-based sportsbook operator Caesars. Although many NFL teams have been hesitant to incorporate betting content into their telecasts, they are now testing various options. A recent survey by the NFL found that fans would prefer apps, rather than betting kiosks in the stadium.

Since the Supreme Court ruling in May, there have been numerous states that have legalized sports betting. Currently, seven states offer legalized sports betting and more than $8 billion in bets. Other states are poised to join the ranks later this year. The NFL has argued that legalized sports betting threatens the moral thread that runs through the sport. But New Orleans Saints fans disagree.