The National Football League has signed sponsorship agreements with three gambling companies, the league’s first promotion to play legal sports and the latest sign of the industry’s rapid growth in the United States.
The American Football League has contracted Caesars Entertainment, Draftkings and Fanduel to manage retail and online sports books – where state law allows – using NFL media, logos and data.
The value of the sponsorship for more than five years was about 1 1 billion, according to a person familiar with the matter. The agreements do not prevent other operators from betting on NFL games.
The deal is almost a facelift for the league, once a vocal opponent of legal sports gambling. In 2012, the NFL and its equivalents Lawsuit in the state of New Jersey To stop the practice, it says that “playing individually and the final-scoring games can irreparably harm amateur and professional sports if they raise suspicions that they may be affected by factors other than honest athletic competition.”
Renee Anderson, the league’s chief revenue officer and executive vice president of the NFL Partnership, told the Financial Times that the evolution of the league’s thinking is “following the consumer evolution of everything, everything fans are doing and how their behavior is evolving.” We follow fans wherever they are. “
The growth of the U.S. sports betting industry was enabled by a 2018 Supreme Court decision that struck a federal ban on practice. It has gained momentum as cash-strapped states seek new tax revenues during the epidemic.
Arizona became 27th jurisdiction New York to accept legal sports betting on Thursday, a week after it became the most populous state for mobile sports wagering approval.
Although some NFL clubs have signed sponsorship deals with gambling operators, the league has been happy to wait so far, Anderson said.
“We’re not betting on sports, the state and the government,” he said. “We are coming back. . . We didn’t start it, but we want to make sure it’s not something we’re blind to.
The terms of the agreement with the league’s gambling partners do not currently include provisions for partners to share equity or earnings in NFL games, Anderson said. This is because the industry is growing so fast, and the league is working on different state laws and regulations regarding gambling.
“The place is complex,” Anderson said. “It simply came to our notice then [sponsorship categories like] Beer or auto, sports betting is not traditional at all. “
The NFL is the most-watched U.S. sport, and the move could boost the rapidly growing domestic market for sports betting, which stood at 7.8 billion in the first two months of 2021, up 90 percent from last year, according to the American Gaming Association from 500m, which was 70 percent more than last year, it said.
Leagues, broadcasters and gambling operators are especially looking at sports betting in an era of wire cord cutting and improving bird engagement. Decreased rating.
Jason Robbins, chief executive of Draftkings, said: Collaboration with the NFL, he said, would “ultimately enhance products both on the field and on screen.”