*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."
Canadian Foreign Minister Chrystia Freeland is headed to Washington to continue trade negotiations with the U.S. On Monday, Mexico and the United States agreed to terms for a new trade deal.
Electronic Arts is canceling three qualifier events for its 'Madden NFL 19' tournament in the wake of Sunday's deadly shooting in Jacksonville, Florida. The company says it will conduct a review of safety measures to ensure the security of competitors and spectators.
And Kathy Ireland, Chairman Emeritus and Chief Brand Strategist at Level Brands, joins Cheddar after ringing the Opening Bell Tuesday morning. She talks about what has driven the recent success of Level Brands, a brand management and licensing company.
Nick Fullerton, CEO of SportsETFs, has created an ETF that includes companies partnering with pro leagues and teams as an indirect play on the popularity of team sports.
Tennis stars Carolina Wozniacki and Kevin Anderson and USTA Chief Revenue Officer Lew Sherr sat down with Cheddar days before the kick-off of the 2018 U.S. Open. Wozniacki expects some serious competition as Serena Williams is back in the mix after giving birth last September.
NBA Hall-of-Famer Clyde Drexler, commissioner of the BIG3 3-on-3 league, sat down with Cheddar and talked about those rumors that Kobe Bryant might join the league, as well as the league's push to bring 3-on-3 ball to Tokyo 2020.
Facebook was forced to remove its data security app, Onavo, from the App Store after Apple updated its data collection guidelines. Meanwhile, the social media giant also voluntarily removed the quiz app, myPersonality, from its platform after the app improperly collected data on more than 4 million users. And we're joined by Mike Francesa, New York sports radio legend, to hear about the launch of his new app, 'Mike's On.'
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Jason Robins, DraftKings CEO, told Cheddar the company has been working on several ventures to capitalize on the Supreme Court ruling that cleared the way for states to allow sports betting. The company's first such product rolled out this month.
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NEO U, a new gym in New York, is not just a place to get in shape, it's a studio where fitness professionals can share their workouts with online followers around the world. The co-founder Nate Forster wants trainers and partners like Soul Cycle, Equinox, and Peloton to see the NEO U platform as an opportunity, not competition.
The Denver Nuggets shooting guard has already made it to the real NBA, and now he has his sights curiously set on getting his team to compete in the top tier of NBA2K, the basketball league's esports analog.
