Currently, seven states have legalized sports betting and are generating a total of $8 billion in bets. This number is expected to rise to nearly 70 percent by 2024. Several more states are set to legalize sports betting in the next couple of years.
While the four major professional sports leagues have remained silent on the issue, a number of sportsbooks have been operating in the U.S. since 1984. These international bookmaking companies have shown a lack of experience with American sports. In addition, some books have exhibited a high level of controversies surrounding their odds displays.
The NFL has forged partnerships with a number of betting operators. These partnerships can be a little more than meets the eye. While most sports betting partnerships focus on the basic details, finding common ground is key to making a successful deal.
Fox Sports announced last week it would launch a sports betting app. It is set to begin taking bets this fall. Fox Bet marks the company’s most aggressive push into the gambling space.
MGM Resorts International is the largest sportsbook operator in the U.S., and it has agreed to use official data from the NBA, MLB, and NHL. This will help generate live betting odds. In addition, MGM has been named the NBA’s official sportsbook partner.
The NFL has also made sportsbooks its team sponsors in states that have legalized sports betting. This allows the league to provide gambling-related training to players. In addition, NFL broadcasters have been adding betting lines and spreads to the bottom of the screen. They can also sell sportsbook commercials to league-approved sportsbooks.