The NFL is the latest major American league to announce official betting deals. The NFL announced that three sportsbooks will become official betting partners, giving them access to official league data and promoting their relationship with the league. As part of the deal, these sportsbooks will be able to tie their brand names to certain statistics. If the five-year agreement goes as planned, the NFL will receive nearly $1 billion in revenue. It has the right to renegotiate the terms if it doesn’t reach its financial goal.
In the first year of legal sports betting in the U.S., the PGA Tour has already seen significant growth in betting. In 2020 alone, the amount of money wagered with official betting operators on the tour rose 50 percent, and total bets rose 40 percent. And further growth is expected, according to Scott Warfield, PGA Tour vice president of gaming. He expects even greater growth in the coming years. In the meantime, the PGA Tour will keep up with the demands of sports betting and offer an enhanced, live experience for fans.
The NFL’s goal to promote sports gambling is a win-win for the league and its fans. As a result, it has aggressively pursued partnerships with betting operators. Earlier this year, the league announced that DraftKings, FanDuel, and Caesars would be its official sports betting partners. In return, the NFL expects to generate about $270 million in gambling revenue this year. The NFL also hopes to increase betting revenues on its website by offering exclusive rewards.