*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."
Apple is planning a subscription service that would function like Netflix for games, according to people familiar with the matter. The iPhone maker has also discussed partnering with developers as a publisher, which could signal ambitions to assume distribution and marketing costs for games.
These are the headlines you Need 2 Know for Tuesday, Jan. 29, 2019.
Following a 2018 Supreme Court ruling year that cleared the way for sports gambling, fans in seven states can bet on the upcoming Super Bowl for the first time ー and leaders in the budding industry are anticipating the Big Game will deliver their biggest day yet. “We expect the Super Bowl to be our single biggest day in the company’s history,” Mike Raffensperger, the chief marketing officer for betting platform FanDuel, told Cheddar.
FightCamp is a new fitness company that streams boxing classes from top instructors direct to consumers. The classes can be tailored to the needs of boxers at all levels of expertise ー from newbies to punching pros said co-founder Tommy Duquette.
These are the headlines you Need 2 Know for Friday, Jan. 25, 2019.
The New York Knicks and its jersey sponsor, the website-building platform Squarespace, are doling out assists to four local businesses as part of the second annual "Make It Awards." "Partnering with Squarespace to help those entrepreneurs get their businesses to the next level was something we were very interested in doing and it's been a major hit," said MSG Sports' senior vice president of business operations, Kristin Bernert, in an interview on Cheddar.
The Delaware Blue Coats will make their debut Wednesday night at the brand new Philadelphia 76ers Fieldhouse in Wilmington, Del., and the team will share the spotlight with an arena that boasts five stories, can seat 2,500 fans, and includes three NBA-regulation basketball courts. The flashy new arena was designed to promote youth sports in the state of Delaware and the greater Philadelphia region. "It's all geared towards youth," Chris Heck, the president of the Philadelphia 76ers, told Cheddar.
The NBA is transparent about its approval of legalized, regulated sports betting ー but the league is also clearly communicating that it wants a fair share of the money wagered on its games. "It's our view that if state governments are going to be authorizing private entities, in most cases casinos, to generate significant revenue ー billions of dollars of revenue ー off of the NBA competitions, that the NBA participate in some way," said the NBA's head of fantasy and gaming Scott Kaufman-Ross.
Former Green Bay Packer Ahman Green is a four time Pro Bowler, but he's also an avid gamer. When it comes to Halo he's just another fan that looks up to professionals like Proximitty and LethuL for help with his improving his skills.
These are the headlines you Need 2 Know for Wednesday Jan. 23, 2019.
