Official betting partnerships are all the rage in the sports betting industry. These agreements give industry heavyweights the chance to get together and expand their business. These aren’t one-off deals – they are massive portfolios of relationships. DraftKings, for example, is one of the leading players in the market. It has agreed to numerous partnerships and expanded its presence in multiple states.
The state of California is considering allowing sports betting, but there is a snag. If Proposition 26 passes, betting on basketball games will likely be restricted to Californians. If the state does legalize sports betting, multiple sportsbooks may start operating in that state. In addition to this, several betting sites may offer betting on top international and European competitions.
The NFL, for example, has partnered with betting operators and introduced betting on its games. It expects to generate $270 million in revenue this year from sports betting. The league also offers special promotions for fans to place bets. But before betting on a game, fans should know how the rules of sports betting apply to them.
The NFL has concluded that the best sports gambling legislation would include substantive licensing requirements, clear markets, and protection of consumers. It would also ban insider betting and put onus on betting operators to prevent it. Before the legislation was passed, the NFL had to secure support from the 32 owners of NFL teams. The owners’ group split into four groups.