The Last Major Professional Sport to Sign an Official Betting Agreement

In the United States, the NFL is the last major professional sport to sign official betting agreements. The league recently announced that three sportsbooks will be its official betting partners. By becoming an official betting partner, these sportsbooks will get access to official league data and will be able to tie their brands and promotions to the league’s statistics. If the five-year deal is successful, the league will receive almost $1 billion in revenue from its partnerships. But the NFL has the option to cancel the agreement after three years, if the deals are not working out.

In August of 2019, Iowa legalized sports betting. Other states have taken anywhere from six months to a year to legalize this activity. In contrast, the Hawkeye State opened its first sportsbook just three months after signing its bill. If the new laws pass, the state could have up to 25 legal online sportsbooks. But before those sportsbooks can be launched, the laws must be updated to ensure that they are fair and safe. It will be interesting to see how these sportsbooks do in Ohio.

Arizona sportsbooks will have the advantage of working with the teams themselves. The teams are officially partnered with the major sports betting companies, which are the official books for professional and college games. In fact, some of the biggest sports leagues in the U.S. already offer betting. For instance, the NHL will partner with BetMGM and Bally’s. Likewise, Arizona’s sportsbooks will partner with SaharaBets, which is a start-up owned by the owner of the Phoenix Coyotes.