*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."
NBA Hall of Famer Shaquille and tennis star Sloane Stephens joined Cheddar News to talk about their partnership with the Icy Hot Squad, a team of athletes from varying sports who embody the challenges of overcoming pain in athletics. The endeavor also supports the Comebaq Courts initiative to help young athletes return to playing after getting hurt. While both Shaq and Stephens talked about taking on the challenge of helping with pain management, one challenge the intimidating former NBA center noted that he won't be facing is space tourism. "Let me think about it — hell naw. I'm good right here where I'm at," he quickly responded when asked about taking a Blue Origin flight.
Chloe Kim, a two-time Olympic Gold Medal-winning snowboarder, and her dog Reece are teaming up with Purina for its Pro Plan Million Mile Challenge to donate to Athletes for Animals.
The olympian joined Cheddar News to talk about her about the mental health challenges athletes face, her snowboarding career, and the Purina partnership to raise money for responsible pet ownership. "It’s an exciting way to encourage pet owners to get up and get active with their companion," she said. Kim also stated that the plan is for her to compete in the 2026 Olympic Games in Milano Cortina after taking some time off.
The Federal Aviation Administration is reviewing a communications breakdown that led police to think an aircraft carrying military parachutists for a baseball stadium stunt was “a probable threat.”
As U.S. cities and airlines are weighing COVID-19 protocols like mask and vaccine mandates, Canada continues to ban travelers who are not fully vaccinated -- including professional athletes. The MLB season is now underway, and the Toronto Raptors have advanced to the NBA playoffs, so several athletes are expected to not participate in upcoming games in Canada. Gabe Lacques, MLB reporters and Baseball Editor for USA Today Sports, joins Cheddar News' Closing Bell to dsicuss.
Nike introduced the Vaporfly in the 2016 Olympics to Nike-sponsored athletes, three of whom took the top spots in marathon events. Since then, the shoe has been the weapon of choice of elite athletes like those competing in the 2022 Boston Marathon. Why? Because Nike designed the shoe to literally make you faster. To not wear the Vaporfly has become a disadvantage. So how exactly does this shoe increase speeds and should it even be allowed in competition?
Christine Moore, a celebrity hat designer and featured milliner for the 148th running of the Kentucky Derby, joined Cheddar News to talk about how her headwear became a staple of race day fashion and what Derby watchers can come to expect at this year's horse racing event. “It's always go big or go home," she said. "And it's also very Southern belle style for the first leg of the triple crown, which is the Kentucky Derby." The race will be held on Saturday, May 7.
Between Bells executive producer Conor White recaps some of the biggest stories of the week, and teaches Azia Celestino and Hena Doba a thing or two at the same time. It's This Week In Trivia!
Minty Bets, Sports Betting Analyst for Yahoo Sportsbook, joins Cheddar Bets to break down all of the latest trends from the first week of baseball season.
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