*By Michael Teich*
The NBA is continuing its push into the sports betting market. On Friday, the league announced on Cheddar that it inked a deal with UK-based Bet365, bringing its total partnerships with sports betting operators to five.
"Their brand is huge internationally," Kaufman-Ross told Cheddar. "They're one of the biggest players throughout Europe and other parts of the world."
The deal with Bet365 follows the same framework as its previous deals with MGM, FanDuel, FOX Bet, and William Hill. Each of these operators has the right to use official NBA data, utilize marks and logos to create a more authentic product, and will be promoted from NBA.com.
The NBA has been quick to embrace legalized sports betting after the U.S. Supreme Court struck down the federal ban in May 2018. It became the first major U.S. sports league to partner with a sportsbook operator after signing a deal with MGM in July 2018. The NBA monetizes these partnerships in a number of ways.
"In some of our deals, yes we get a royalty on the betting volume," Kaufman-Ross said. "In others, it's more like a flat fee, or a per state fee."
Currently, thirteen states have up-and-running legalized sports betting. Only four of those have true mobile betting. Five more states, plus Washington, D.C., have approved the practice, but sports betting in those regions is not yet operational. The U.S. has handled a total of $12.4 billion in sports bets since June of last year, and the legalization by more states will fuel growth even more, said Kaufman-Ross.
"There's a lot of growth that we think is going to come when new states come online and new states pass mobile betting. And I think what'll be really interesting is that what we've seen thus far, is once a state does pass a law with true mobile betting, it happens very quickly."
Cheddar's Need2Know Podcast for Wed., June 17, 2020.
Cheddar's Need2Know Podcast for Tues., June 16, 2020.
Traditionally around this time of the year, advertisers and agencies attend hours of pitches from media companies featuring their most promising TV shows and marquee events for the upcoming year. Like so many things in 2020, this year is different.
Super Bowl MVP Patrick Mahomes is among more than a dozen NFL stars who united to send a passionate video message to the league about racial inequality.
The NBA’s Board of Governors has approved a 22-team format for restarting the league season in late July at the Disney campus near Orlando, Florida.
The baseball players’ association has given management a wide-ranging response to a 67-page proposed set of protocols for a season to be played during the coronavirus pandemic.
NASCAR drivers will be returning to Darlington Raceway this weekend in South Carolina, but even with those loud engines, it'll be a much quieter racetrack. After a two month suspension due to COVID-19, the racing organization will hold it's first race without fans in the stands or high fives in Victory Lane. Jill Gregory, executive vice president and chief marketing officer at NASCAR, talked to Cheddar Friday.
A person familiar with the decision tells The Associated Press that Major League Baseball owners have given the go-ahead to making a proposal to the players’ union that could lead to the coronavirus-delayed season starting around the Fourth of July weekend in ballparks without fans.
Under 1% of Major League Baseball employees tested positive for antibodies to COVID-19, the illness caused by the new coronavirus. Results were based on 5,603 completed records from employees of 26 clubs.
The Philadelphia Flyers and 76ers are set to offer refunds or credits for unplayed regular-season games at their shared arena because of the coronavirus pandemic.
