*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."
Brian Stewart, the U.S. brand ambassador for Belvedere Vodka, joined Cheddar News to show off the cocktail called the Belvedere Raspberry Circuit to pair with the Formula 1 Miami Grand Prix, a race getting underway for the very first time on May 8. “I wanted this drink to be very approachable, but I also wanted to drink to be as luxurious and exciting as the race itself," he said.
It’s NFL draft night! A former defensive end for the Dolphins, Bears, and Texans Wale Ogunleye joined Cheddar News to talk about which rookies-to-be the NFL teams will be picking and also discuss the impact of the pandemic on the incoming players. "I do think having the ability to stay at school maybe a year or two longer, and it may be getting your adulthood going, it might help out a lot, but again, it's a different animal in that locker room," he said. Ogunleye, who also heads sports and entertainment at the financial firm UBS, also talked about providing financial literacy education and advice for young athletes.
Chelsa Messinger, host of 'The Daily Tip', joins Cheddar Bets to compete with Alex Glaze and draft the best card possible from tonight's slate.
Sponsored by BetMGM
Ryan Glasspiegel, sports and entertainment reporter for the New York Post, explains why we're seeing teams and leagues gravitate towards Las Vegas, and sheds light on the recent report that Amazon is pushing for a Black Friday NFL game.
Emmanuel Macron staves off the far right challenger Marine Le Pen in France, conservative lawmakers find themselves embroiled in varying controversies, and pickleball is hotter than ever in the U.S.
Between Bells EP Conor White recaps some of the biggest stories of the week, and teaches Baker Machado and Azia Celestino a thing or two at the same time. It's This Week in Trivia!
The Golden State Warriors a new affiliate company called Golden State Entertainment to create sports-related original content, documentaries, and musical collaborations. David Kelly, chief business officer, joined Cheddar News to discuss “We think it's a great time to step off into this area. I think the better question maybe is why this hasn’t been formed previously?” he said. "There's a lot of synergies between sports, music, and film, and so we think that the timing is right to bring those worlds together into this venture." He noted that projects aren't limited to Warriors-only content, pointing to the documentary "38 at the Garden," about former New York Knicks player Jeremy Lin.
Sean Zerillo, Senior Writer for Action Network and co-host of the MLB podcast "Payoff Pitch" joins Cheddar Bets to discuss why under have been a lucrative bet for him so far, and how he's adjusting his strategies moving forward.
Sponsored by BetMGM
Michael Jenkins, host of 'The Daily Tip', joins Cheddar Bets to break down each game in the NBA Playoffs tonight and why not to take the bait on the Grizzlies-Timberwolves point total.
Sponsored by BetMGM
