*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 NBA star sat down with Alyssa Julya Smith to discuss what he looks for when picking start-ups to invest in. Among the companies in his portfolio: Postmates, JetSmarter, and Suzy.
PlayVS is the first esports league for high school students. The company announced $15 million in funding that will go towards preparing for its upcoming inaugural season.
Facebook is facing more backlash after a New York Times report revealed the social media company shared user data with at least 60 device makers. It turns out Facebook shared information with four Chinese firms, including Huawei. The Chinese company Huawei is the third largest smartphone maker in the world and has also faced intense scrutiny from U.S. government officials.
Tesla shareholders voted to keep Elon Musk on as chairman of the electric carmaker. At the annual shareholder meeting, Musk said the company is on track to deliver 5,000 Model 3 vehicles per week by the end of this month. Tesla will also open a new gigafactory in Shanghai, its first outside of the U.S.
And we talk to WNBA legend and Olympic gold medalist Lisa Leslie. She stars in the new film 'Uncle Drew' alongside Kyrie Irving, Chris Webber, Shaq, and other comedy and basketball greats. Leslie also weighs in on the NFL kneeling controversy.
Denying people the right to express their opinions doesn't represent America's democratic values, says Lisa Leslie. Trump "focuses so much on trying to be the dictator of our country," Leslie tells Cheddar.
The U.S. didn't qualify for the World Cup this year, but Tab Ramos, who played in three championship events, is still "bullish" about the sport's future in America. "We have a lot of young players -- 18, 19, 20, 21 -- who are ready to take that step and ready to take the U.S. to new heights," he tells Cheddar. Ramos is now the U.S. under-20 national team coach.
The media exec points out that people will pay for sports content before they even pay for dinner. Discovery inked a $2 billion deal Monday to broadcast golf tournaments internationally, across platforms.
Facebook is under fire again for its privacy practices after reports that it gave device makers like Apple, Amazon, and Samsung access to user data. The New York Times claims that over the past 10 years, the social media site struck deals with at least 60 companies for user information. This latest report is just another setback for Facebook as it tries to repair its reputation following the Cambridge Analytica data scandal.
Apple's developer conference, or WWDC, kicks off today in San Jose, California. This year, the tech giant is focusing on software developments rather than new hardware. Cheddar's Hope King reports live from the conference about what we can expect ahead of the keynote speech.
The 2018 World Cup is just days away. We're joined by Tab Ramos, soccer legend, head coach for the U.S. Men's National U-20 team, and World Cup analyst for Telemundo Deportes, to talk about the big event.
Tab Ramos, soccer legend, head coach for the U.S. Men's National U-20 team, and World Cup analyst for Telemundo Deportes, previews the 2018 World Cup in Russia.
The NFL's decision to ban players from taking a knee during the anthem propagates the narrative that the athletes belong at the bottom of a hierarchy and are just supposed to "do as we say," says ex-Giant Victor Cruz. "I think you'll still see some kind of protest," he tells Cheddar.
The skateboarding legend, who became the first person to land a '900' trick back in 1999, has successfully turned his sporting career into a business empire. It all boils down to perseverance and taking risks, he tells Cheddar's Jon Steinberg.
