The world’s richest sports league is reportedly extending the roster of sports betting partners with the additions of PointsBet, WynnBet, and BetMGM to the second round of such partnerships, which already includes FOX Bet.
The NFL signed sports betting partnerships in the past when it gave special rights and privileges to a trio of sports betting operators that included DraftKings, FanDuel, and Caesars. These initial deals were signed for a period of five years and put in motion in April 2021.
Now, the NFL will be adding more betting partners, according to sources close to the league. The deals will mostly focus on the operators purchasing official league data through NFL partners Genius Sports, and the league allowing them to advertise on TV during and around the NFL games. It is not clear at this time if the new sports betting partners will be allowed to use team logos on their websites as well.
Looking at the future, it also remains unclear if other sports betting operators will be given similar deals before the start of the season, as no one from the league has confirmed or denied further deals.
NFL Set to Make Billions
Legalized sports betting in the US has been good for the major sports leagues, but the NFL has been somewhat slower than other major competitions in making the most out of the opportunity.
The opportunities for the NFL are plentiful and include both the commercial partnerships such as these, and individual team partnerships that the league and the teams will benefit from in the future.
According to reports, the initial three partnerships that the NFL signed with FanDuel, DraftKings, and Caesars, are set to make the league a billion dollars over the next five years alone, and the new betting partners should add significantly to this number.
A good portion of the revenue that the NFL expects to make is tied to its partnership with Genius Sports, which itself is worth hundreds of millions in cash and equity. Both the initial and the new batch of betting partners have agreed to purchase official NFL data from Genius Sports, with the same company also controlling advertising on the NFL website, app, and more.
Expanding on Existing Business Ties
The new batch of sports betting partners for the NFL are all tied to the league in some fashion already, and will simply be extending on these partnerships.
WynnBet announced it partnership with the Detroit Lions earlier in the year, while BetMGM has completed deals with a number of top-tier teams such as New York Jets, Pittsburgh Steelers, and Las Vegas Raiders.
From the media standpoint, PointsBet is already partnered with NFL’s media partner NBC Sports, while FOX Bet operates in partnership with FOX Sports.
FOX Bet’s new partnership with the NFL was already announced in March, when the league officials spoke on the topic. The three new operators are now set to join FOX Bet for the upcoming season, with all four deals similar in scope.
