The NFL is the latest major sports league to sign official betting deals. The league recently announced three sportsbooks as its official betting partners. The deals will give the sportsbooks access to official league data, a way to promote their relationships with the league and tie their brand name to statistics. If the five-year deal works out, the league will receive almost $1 billion in revenue, but they can opt out after three years if they are not satisfied. So, how can official betting be beneficial for sports fans?
Sports betting has been legal in the state of Arizona since September 2017. The state went from passing the law to launching sports betting in five months. As of the time of this writing, seven apps were available for online sports betting on opening day. Two sportsbooks opened at stadiums in Phoenix. This is a great start for sports fans, but the legality of sports betting hasn’t been a problem for the state of Arizona. And the state has had no legal challenges to the market.
In addition to the two NFL owners, other big sports leagues and sportsbooks are taking bets on games. DraftKings, the fantasy giant, is now a sportsbook. Last week, Fox Sports announced its intention to launch a sports betting app. Betting on sporting events is expected to begin on Fox Sports this fall. Meanwhile, ESPN and Fox Sports 1 have shows around sports betting. In addition, sports betting has been at the center of major sporting moments.