Official betting is an innovative sports bet-type that allows fans to bet on events while they’re happening. It can help sportsbooks attract new customers and engage existing ones, giving them a unique advantage over non-official markets.
MLB’s official betting partners include DraftKings and FanDuel. The league’s recent pact with FanDuel will expand the number of sportsbooks able to access data during games, as well as increase the variety of wagering options available.
NFL and NBA officials have advocated for the inclusion of official league data mandates in state-regulated sports betting laws. The leagues say such mandates are necessary for ensuring the integrity of legal US sports betting.
However, a league-mandated data mandate creates a two-tiered system in which operators are required to pay one of two prices for the same type of data. The cost of official league data varies by sports and distributor, but some sources peg it at around 0.25% of the amount wagered on each league.
While the industry has largely opposed data mandates, some private operators suggest they may change their pricing models if legal requirements become more widespread. The industry sees such mandates as a bad policy because they force operators into commercial agreements with the leagues, while granting one party what amounts to a monopoly on data.
The NCAA has an arrangement with Genius Sports for live stats, while the PGA Tour has signed a deal with IMG Arena to provide in-play betting data. Each major US sports league has a data arrangement with at least one distributor, and relationships have grown alongside the appetite for legal sports betting.