When sports betting became legal in the U.S. in 2018, NASCAR needed an official data product and betting solution. With the help of our company, NASCAR was able to develop a first-of-its-kind official betting solution, including over 25 in-race bets. This product allows sportsbooks to take bets on every lap of a race, giving fans in regulated states a highly engaging live experience.
The NFL, in addition to partnering with sportsbooks, has expanded its gambling offerings by infusing its broadcasts with gambling content. By allowing betting inside the stadium, the NFL is looking to generate $270 million this year. Earlier this year, Caesars, DraftKings, and FanDuel were named NFL official betting partners. Genius Sports will monitor the NFL’s official betting data, which can be used by other sportsbooks.
A few years ago, ESPN would not use the names of NFL teams in gambling content, but now many media companies have jumped in. For example, Fox launched its own sportsbook, Fox Bet, and ESPN has partnered with Ceasars and built a Las Vegas set dedicated to gambling content. NFL has done market research to determine the level of interest among fans and which type of sports gambling they prefer. Using this data, the NFL hopes to promote its relationship with the league and tie brands to statistics.
Adding sports betting to the Cavs’ fan experience is another way to increase the fan base of the franchise. The sportsbook will cover 10,000 square feet of the arena’s atrium, and will have year-round betting windows. The Ohio Casino Control Commission will regulate the activity and issue licenses to sports betting operators. If the state gets everything right, sports betting will go live in Ohio in early 2019.