DraftKings and the PGA TOUR Sign Official Betting Deals

The PGA TOUR and DraftKings have extended their multi-year marketing partnership and designated DraftKings as the first official betting operator and daily fantasy game of the PGA Tour. The company also announced a multi-year exclusivity deal with the tour to offer fans branded fan experiences during the Memorial Tournament. These new partnerships will provide bettors with exclusive access to the PGA Tour’s intellectual property, video highlights, and marks.

The NFL is the last major American sports league to sign an official betting deal. In April, the NFL announced three sportsbooks as official betting partners. These partnerships give the sportsbooks exclusive access to league data and will allow them to promote their relationship with the league and tie their brands to stats and other information. If the five-year deal holds, the NFL will receive almost $1 billion in revenue from the deal. However, the league has the right to opt-out after three years.

The NFL analyzed the market for legalized sports betting, contacting gaming operators and sports entities to find out what was working and what was not. It was estimated that between $75 billion and $125 billion was being illegally wagered on sports in the United States. The NFL envisioned a legalized industry, which would create clear markets and protect consumers. The NFL also wanted to prevent betting by insiders and place the burden of ensuring integrity on the part of betting operators. The NFL had to secure the support of the owners of all 32 NFL teams. These owners were divided into four groups: the National Football League, the NFL Players Association, and the NFL Players Association.