*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 social media network's live video platform will help grow its monthly active users, especially as consumers rapidly ditch cable for on-demand content, says Motley Fool analyst Jason Moser.
Frank Zaccanelli, a former owner of the NBA's Dallas Mavericks, says the NFL's decision to adopt a new policy on the national anthem without consulting the NFL Players Association was, "one of the dumbest things I've ever heard."
Former ESPN anchor Bram Weinstein says that, while players may not strike because of the league's new policy, there will likely be some kind of response.
"Your Call Football" allows viewers at home to pick their favorite of three pre-selected plays while a real game takes place. The two-team league ends its first three-game season on Thursday night.
After the Supreme Court lifted the ban on sports gambling this week, the National Hockey League said it wasn't changing its rules against the practice. And teams won't act until the league decides to do something, says the L.A. Kings' chief operating officer, Kelly Cheeseman.
The Seattle City Council passed a new law that will require companies making more than $20 million a year to pay a 'head tax.' Amazon and other Seattle-based companies will pay a tax of 14 cents per employee per hour worked, which comes out to roughly $275 per employee each year. The tax will raise money for affordable housing since home prices have risen recently in Seattle. In response, Amazon's vice president said this move "forces us to question our growth here." A Starbucks exec criticized the city for spending "without reforming and fail[ing] without accountability."
A number of top Tesla executives have left the company in the past few months. Aaron Cole, managing editor at Motor Authority, joins us to discuss whether investors should be worried that this 'drain brain' will have negative consequences for the electric carmaker. The company is ramping up production to meet its ambitious Model 3 targets.
Cheddar's Brad Smith speaks with Joe Gibbs, Pro Football Hall of Famer and owner of Joe Gibbs Racing, at a special event outside the New York Stock Exchange celebrating Stanley Black & Decker's 175th anniversary. Gibbs talks about how NASCAR is focusing on expanding its digital outreach to reach a younger audience. He also weighs in on the Supreme Court's decision to reverse a ban on sports gambling.
The car racing organization's biggest focus now is trying to reach millennials by adjusting how the sport can be consumed, says Joe Gibbs, owner of a NASCAR racing team and a former NFL coach.
Increased interest in the Overwatch League could push franchise fees as high as $100 million in the future, says eSports expert Rod Breslau, better known as "Slasher." The League is currently wrapping up its first season and the Grand Finals are scheduled to kick off at the Barclays Center in Brooklyn, NY, on July 27.
The former WNBA player was the first woman to be an assistant coach in the NBA, and she interviewed this week to be the head coach of the Milwaukee Bucks. She may not get this job, says James Yoder of Chat Sports, but "maybe one or two seasons, she will end up landing an NBA coaching job," he says.
