The NFL is among the last American sports leagues to sign an official betting deal. The league announced three sportsbooks as its official betting partners in April. In return for the partnership, the sportsbooks will receive official league data and can use it to promote their relationship with the league and tie their brands to team statistics. If the five-year agreement holds up, the NFL will receive nearly $1 billion in revenue. After three years, the league can opt out.
The league and FanDuel recently extended their partnership for three more years, through 2024. The agreement allows the company to use its marks and distribute highlights of TOUR events to their fan base. The NFL’s ideal sports gambling legislation would include substantive licensing requirements, create clear markets, protect consumers, and eliminate the possibility of insider betting. The league also wanted to prevent insider betting, and place the onus on betting operators to do so. But the league’s proposal needed the support of the 32 owners of NFL teams, who fell into four categories:
The NBA, NHL, NFL, PGA Tour, and WNBA are among the sports leagues that have signed betting deals with gaming companies. Despite the regulations surrounding sports betting, there’s no reason why the NBA can’t follow suit. The league’s logos will be displayed on oddsboards at participating sportsbooks. However, it is unclear if the NBA will follow suit in the future, and the deal is only a start. The deal may be a precursor to other sports leagues pursuing similar deals.