*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."
Today, Apolo Ohno is much more than a former Olympian. He's an entrepreneur, sports analyst, speaker, and New York Times bestseller. His latest book, 'Hard Pivot,' is a guide for any person learning to adapt or wanting to reinvent themselves, just as Ohno did over a decade ago. Ohno joins Cheddar News to discuss.
Dr. Brian Moore, CEO & Co-founder of sports performance and technology company Orrecco, joins Cheddar Innovates to discuss how the @thlete platform is helping pro athletes and Olympians improve their performance, and what the future of tech in the world of sports may look like.
A six-year battle over equal pay has finally come to an end-- as U.S. Soccer and The United States Women's Soccer Team have agreed to settle their lawsuit. Under the terms of the deal, the athletes will receive $24 million from U.S. Soccer, and a pledge from the federation to equalize pay for the men's and women's national teams. Lily Roberts, Managing Director of the Poverty to Prosperity Team at the Center for American Progress joined Cheddar's Opening Bell to discuss.
In a thrilling overtime finish, 23-year old NASCAR driver Austin Cindric clinched the 64th annual Daytona 500 win. Narrowly beating out legendary race car driver Bubba Wallace, Cindric earned his very first NASCAR cup series victory, and became the second youngest driver to win The Great American Race. Daytona 500 Champ Austin Cindric joined Cheddar's Opening Bell to discuss his historic victory.
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans who are carving their own historic paths and trailblazing in their fields. Today we feature athlete and activist Colin Kaepernick.
The NBA's Golden State Warriors recently announced a relaunch of their SuiteXchange platform, which allows owners to resell luxury suites or rent them out for individual games. Brandon Schneider, team president and COO, joined Cheddar to relay the details of the renewed program and what buyers and sellers can expect. "The Warriors don't determine the price. The seller and the buyer really do. And that's actually one of the unique features on SuiteXChange," he said. "So, if the seller wants to set the price at $10,000, making up a number, the buyer can buy it for $10,000 or they can make an offer for something less than that."
The horse known as Medina Spirit has been stripped of its first-place title at the 2021 Kentucky Derby after testing positive for a banned substance with trainer Bob Baffert receiving a 90-day suspension. Second place finisher Mandaloun has been named the winner instead.
Jamaican Olympic alpine skier Benjamin Alexander joins Cheddar News to discuss his first Olympic appearance and creating more opportunities for diversity in the sport.
