*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."
It's no secret tech giant Amazon has a mission of becoming a major player in sports media, and the company is poised to make progress on that goal in 2022. Amazon Prime Video will be the exclusive home to Thursday Night Football for the 2022-23 NFL season. In December, the New York Post reported that Amazon is in the beginning stages of developing studio sports programs, and hopes to soon have a full daily lineup of sports shows. Front Office Sports senior reporter A.J. Perez joined Cheddar News' Closing Bell to discuss.
The seven-time Pro Bowler Antonio Brown thrust himself into the spotlight again after an on-field meltdown against the New York jets that ended with him pulling off his jersey and exiting the field at MetLife Stadium, leading his Tampa Bay Buccaneers head coach Bruce Arians to say that Brown was "no longer a buc." Sports commentator and former quarterback Lester Ricard Jr. joined Cheddar's "Closing Bell" to discuss the troubled star's latest actions as well as his checkered past few years in and around the league. "About three or four years ago, Antonio Brown, his career was trending towards a Hall of Famer, one of the best wide receivers of all time," said Ricard Jr. "I don't know if he's self-imploding or whatever's going on with him." Ricard went on to speculate about a specific hit Brown may have taken years back he felt could have led to the current behavior.
Sports betting is going mainstream in the United States. Dozens of states have legalized it, California is set to do the same this year. Arizona, which legalized sports betting in September, set new national records for gambling in its first months. Daniel Graetzer, CEO of Maximbet, joins Cheddar News to discuss what's next for the booming industry.
There is a new player in the mobile app stock trading space.
Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
Back in July of 2021, the NCAA announced a new policy in favor of allowing student-athletes to be given the chance to gain income through endorsement deals as well as public appearances. The Name, Image, and Likeness policy have found great appreciation among athletes who now can grow their businesses without having to sacrifice their playing eligibility. However, some critics believe this new policy could cause some chaos in the locker room. Sports Reporter at the Wall Street Journal Laine Higgins, joined Cheddar to discuss more.
Chris Vannini, National College Football Reporter for The Athletic, joins Cheddar News' Closing Bell, where he breaks down the complications COVID-19 is having on college bowl season, with five games cancelled as of Thursday.
Eric Mitchell, sports analyst and co-founder & head of media relations at Lifeflip Media joins Cheddar News to discuss how covid-19 is impacting pro sports.
Brandon Marcello, National College Football Reporter for 247Sports, breaks down each of the two semifinal matchups and explains why the smart money is on the two SEC teams.
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