*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."
The blockchain has made its way into a slew of industries. Next at bat ー the sports world. The Los Angeles Dodgers are moving away from traditional promotions and have begun using crypto tokens to give away digital bobbleheads to fans. Ralph Esquibel, VP of information technology for the team, said this is the first giveaway of its kind and could lead to more experiments with cryptocurrencies.
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Naz Aletaha, head of esports partnerships for Riot Games, said that the "priceless" experiences with new global sponsor Mastercard will start with the world championships in October, offering premium content and behind the scenes access to the biggest event for esports lovers.
Mastercard, seeing a market opening in the skyrocketing popularity of esports, signed a deal to become first global sponsor for Riot Games' "League of Legends." Raja Rajamannar, chief marketing and communications officer for Mastercard, said the company will become exclusive payment service provider for the game. The deal represents the largest mainstream sponsorship thus far in the esports world.
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As the online gaming world continues to boom, professional sports organizations are working to marry the online and physical sports world. Hugh Weber, president of the New Jersey Devils, said that there is a way for live esports events to be compelling enough to translate to ticket sales.
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Chris Raybon, senior editor at The Action Network, breaks down the best bets for sports fans heading into Week 2 of the NFL Season.
The company's recent growth on the back of a newly invigorated gaming segment is only the beginning, according to president and CEO Bracken Darrell. He said in an interview on Cheddar that esports could become "the biggest sport in the world," and Logitech will be there as its top hardware provider.
If you had any lingering doubts that eSports had gone mainstream, they would have been erased when the North American League of Legends Summer Split took over the Oracle Arena ー home to the defending NBA champion Golden State Warriors. Cheddar was there for the last stop before the World Championships in South Korea next month.
