Official betting partnerships are an interesting occurrence in the US sports betting industry. It’s an opportunity for the industry’s movers and shakers to join forces. In doing so, they can bolster their respective brands while simultaneously promoting the leagues they represent.

A sportsbook is like a financial services broker. They have a stake in the outcome of every bet they take. They also seek liquidity to capture “vig” – the sportsbook’s cut of the bet. So it’s not surprising that sportsbooks are looking to make a splash with the NFL.

As the NFL and its league partners continue to diversify into the gambling space, it’s important to consider the potential benefits to both parties. The league can expect to rake in $270 million in revenue this year. Depending on how much money it makes from its sports betting partnerships, this could be enough to entice other major sporting leagues to get on board. Similarly, NFL teams can expect to pay sportsbooks to sponsor their programs.

For official sports betting partnerships to be successful, it’s important to find a common thread. That means establishing a common language, which can involve everything from marketing to technology. Sportsbooks and leagues have been steadily expanding their presence across the country in the past three years.

MLB is preparing to strike deals with a handful of sportsbooks. One of them is MGM Resorts. And the NFL is working on the same front. Earlier this year, the two organizations presented their Authorized Gaming Operator (AGO) program.