While other sports leagues have entered into official betting deals with leagues such as MLB and NBA, the NFL has yet to do so. Those who sign such deals with the NFL are not allowed to market their relationship beyond the boundaries of the league. However, the five-year deal with the NFL will allow these sportsbooks to promote their brand name and tie it to statistics. If the NFL is successful with its marketing plans, this partnership will net nearly $1 billion for the league. Those who opt out of the deal after three years can do so, however.
The Kentucky state legislature rejected the sports betting bill this week, but residents there have continued to call for the legalization of sports betting. Meanwhile, New Hampshire has legalized sports betting and has begun to rake in the cash. Meanwhile, Toronto Raptors owner Maple Leaf Sports & Entertainment has partnered with PointsBet, which will be the official betting partner of the Raptors and the Maple Leafs. The company also owns the naming rights to 20 regional sports networks.
The NFL concluded that their ideal sports betting legislation would include substantive licensing requirements, clear markets, and protection for consumers. Betting would be resolved using league-provided data, and the league would place onus on operators to prevent insider betting. The NFL needed the backing of all 32 owners of NFL teams. The owners of these teams fell into four groups: sports betting enthusiasts, league executives, and gambling operators. For the NFL to pass this legislation, it will need the backing of the owners of the 32 NFL teams.
