*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."
A federal judge dismissed a lawsuit challenging AG Jeff Sessions and the DEA on marijuana's classification of a Schedule I drug. The ruling marks a defeat for the plaintiffs who include a 12-year-old girl who treats her epilepsy with medical marijuana, a former professional football player, and a former U.S. Army Combat Veteran. An attorney on the case, and one of the plaintiffs share their reaction to the judges decision.
Since making his first custom car over 25 years ago, Doug DeBerti has made a name for himself in the auto world. Now his son is taking the wheel as he races towards a professional driving career. It's all chronicled in the new Discovery series "Twin Turbos."
Olympic Silver Medalist Elana Meyers Taylor says that tech is involved in everything from analyzing runs to the sleds. She also talks about other aspects of the Games that would benefit from technology.
Cheddar Politics goes in-depth on the gun debate with The Young Turks, Rare Media, and Congressman Ted Deutch (D-FL). Between Bells catches up with Glam Masters' Kandee Johnson, and UnREAL's Bart Edwards.
Not all NFL players head to Disney World once the Super Bowl ends. The NFL Players' Association is in the fourth year of its externship program which finds offseason opportunities for athletes looking to boost their resumes. Fanatics' Rebecca Kulick and NFL Linebacker Brandon Chubb join Cheddar to reveal what they've gotten out of the experience.
A report by Yahoo! revealed that an FBI probe into NCAA corruption identifies possible violations by basketball powerhouse schools including Kentucky, UNC, Kansas, Duke, Texas, and more than 15 others. Sports Attorney Jason Belzer, President at Game, broke down the implications of the allegations.
Samsung finally revealed its Samsung Galaxy S9 phone on the sidelines of Mobile World Congress. Warren Buffett spent more money on Apple stock last year than on any other company. Cheddar sits down with Francis Lawrence, director of the new film "Red Sparrow," starring Jennifer Lawrence. And we recap the biggest moments from the 2018 Winter Olympics with James Yoder, CEO and founder of Chat Sports.
James Yoder, founder and CEO of Chat Sports, shares his thoughts on the biggest moments from the PyeongChang Winter Olympics. Yoder says he was underwhelmed by the closing ceremony and the performance of the U.S. team.
Americans are coming off big gold medal wins on Thursday from the women's hockey team to men's curling. For premiere athletes, olympic glory can also come with high-valued sponsorship deals. In this episode of Generation Trader in Partnership with E*TRADE Cheddar Anchors Hope King and Baker Machdo explore the performance of some of the top sponsors at this year's winter games.
A number of businesses are cutting ties with the National Rifle Association in the days following the Parkland school shooting. Cheddar speaks with David Hogg, a student at Marjory Stoneman Douglas High School, about the tragic shooting in Parkland and the #NeverAgain movement. In other news, General Mills is buying natural pet food maker Blue Buffalo for $8 billion in cash. And Chris Tung, Chief Marketing Officer at Alibaba, discusses the company's first official partnership with the International Olympic Committee.
