• Loading stock data...
Friday, March 29, 2024
2024 Best Venues nominations are open now through April 8! Submit Now

Broncos Further Push Into Sports Betting With Betfred Deal

  • The Broncos are building out a sports betting ecosystem to help drive fan engagement.
  • U.K.-based Betfred has aggressive plans for the U.S. as it looks to build name recognition.
Drew Lock
Photo Credit: Denny Medley-USA TODAY Sports

A day after announcing a partnership with FanDuel, the Denver Broncos have rolled out a deal with U.K.-based Betfred as the team’s second sports betting operator partner.

That FanDuel deal made the Broncos the first NFL team to finalize a deal with an official sports betting partner after the league changed its policy and allowed them in February. Teams are now allowed to sell official sportsbook sponsorships within their home markets, as well as provide signage and displays for those companies in their stadiums and on their websites.

Terms of the deal were not disclosed, but both the FanDuel and Betfred partnerships are “big multi-year deals,” according to Brady Kellogg, Broncos senior vice president of corporate partnerships. The sports betting category is non-exclusive for the Broncos, and they could add a third partner, but only if the fit is right, he said.

“We didn’t set out to be the first, but to do the right deals with the right partners with the right structure,” Kellogg said. “They complement each other a lot. They’re used to coexisting and collectively want to build the category, but also compete aggressively for market share.”

Colorado is shaping up to be one of the most competitive markets for sports betting operators with already approximately 20 online operators licensed. Becoming a Broncos partner could be a key differentiator in a crowded market, particularly for one not yet well known in the U.S. like Betfred, said Bryan Bennett, the company’s U.S. chief operating officer.

Since 1967, the privately-owned Betfred has grown into one of the largest sportsbook operators in the U.K. with 1,500 retail locations and a robust online business. Last year, the company turned its eyes to emerging markets – starting with Spain and now the U.S. Betfred also has a long history of partnerships in the U.K., ranging from Premier League teams to darts events.

“Coming from the U.K., the vast majority of Colorado sports bettors don’t know who we are, and we need something big, aggressive, and bold to set us apart, and it doesn’t get bigger than the Broncos,” Bennett said. “We talked to all the teams but earmarked the Broncos; it was something we knew we needed to do – [it] gives us credibility and immediate name recognition.”

Sports betting was legalized in Colorado on May 1, so the state is ripe for operators to make their claims on the user base. While FanDuel is taking a national approach with its platform, Betfred is taking a more localized approach, concentrating on local markets.

Colorado is the second U.S. state Betfred is investing heavily in after launching in Iowa. It will also have a more physical presence at Empower Field at Mile High than FanDuel, with a pop-up gaming lounge outside the stadium in an area called Sports Legends Mall.

READ MORE: Professional Bowlers Association Brings Sports Betting To Events

Betfred partnered with Black Hawk, Colorado-based Saratoga Casino Black Hawk for a physical sportsbook presence in the state and should have a mobile app up and running by the start of the NFL season. 

For the Broncos, Kellogg said sports betting partnerships are an opportunity to build out fan engagement further – and supporting local water projects, which the state has decided to allocate tax revenue from sports betting.

“We and the league anticipate a lot of the same effects as in the daily fantasy sports space, those engaged are apt to consume more live game content, read more and interact more with digital and social,” he said. “It’s a huge opportunity for their business with the evolution of the league, but our team business, and ultimately for the league and the state governments.”

The Broncos are also in a unique position with a fan base that has heavily transitioned to mobile alongside a substantially technology-focused backbone at Empower Field. The team had the third-highest percentage of mobile ticket scans and messaged speed to help convert 20% of iOS users to concession transactions on Apple Pay by the end of last season.

Colorado is a state that allows for potential sports bettors to register and deposit all on mobile without making a stop at a physical sportsbook.

READ MORE: Monkey Knife Fight ‘Aggressively Open For Business’ As it Builds Platform

“This is a tremendous opportunity to leverage a fan base that has been tech adopters,” Kellogg said. “Our fans have shown desire and capacity to engage in tech this way, and we have the infrastructure to support it.”

Bennett said Betfred would be active in the partnership space as it looks to build out name recognition in the U.S. It has been in talks with teams, especially in Pennsylvania, where it’s launching next. The company is also talking to events, such as golf tournaments.

“We do believe we’ll do additional deals for the same reason we thought it was important to partner with the Broncos,” he said. “We’re looking at deals in other markets we go into as we build into a household name.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Spring Football’s Big Bet: An Unlikely TV Marriage, and Crazy Rules

The United Football League launches this weekend on ESPN and Fox.

‘Good Morning Football’ Beginning Mysterious Timeout Before L.A. Move

Friday is the final broadcast of ‘Good Morning Football’ from New York.

Jets Owner Blasts ‘False’ Reporting From League-Owned Outlet

League owners and NFL Media rarely criticize each other.

NFL to Auction Media Rights to Two Christmas Day Games

Bidding is likely to start at $50 million, say sources, but analysts expect the games to go for far more.
podcast thumbnail mobile
Front Office Sports Today

MLB Opens Season With MLBPA, Ohtani, and Ownership Dramas

0:00
0:00

Featured Today

March 22, 2024, Brooklyn, NY, USA; Northwestern Wildcats guard Brooks Barnhizer (13) and Northwestern Wildcats guard Boo Buie (0) react in overtime against the Florida Atlantic Owls in the first round of the 2024 NCAA Tournament at the Barclays Center.
March 27, 2024

‘An Expensive Game’: March Madness and NIL Collectives Are Intertwined

At schools nationwide, collectives are fueling NCAA tournament runs and vice versa.
Iowa’s Caitlin Clark (22) waits to be announced in the starting lineup against West Virginia in a NCAA Tournament round of 32 game Monday, March 25, 2024 at Carver-Hawkeye Arena in Iowa City, Iowa.
March 26, 2024

The Women’s Trading Card Market Is Overlooked. Can Caitlin Clark Change That?

Traditionally, women’s sports cards have been a marginal part of collectibles.
The Sports Illustrated cover signed by Derek Jeter and Alex Rodriguez, February 27, 2019, at Don & Charlie's, 7501 E. Camelback Road, Scottsdale. Don Charlie S
March 24, 2024

Everything You Need to Know About the Ongoing ‘Sports Illustrated’ Saga

Understanding the strange state of affairs for the nearly 70-year-old publication.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
Spotify
Multiple - USA Careers

NCAA Wants to End Prop Betting on College Sports. Will It Succeed?

The announcement comes just days after the NBA began investigating a prop scandal.
March 27, 2024

It Remains Unclear Which Authorities Shohei Ohtani Has Reported Theft of Millions to, If Any

A federal investigation is ongoing, but it’s not clear what it covers.
March 27, 2024

NCAA President Calls for Nationwide Ban on College Prop Bets

The NCAA president is reacting to the recent betting turmoil in sports.
Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

The remarkable growth of the #1 Discord sports server in the world.
March 26, 2024

Grading Ohtani’s Explanation: ‘I Would Give It an A’

A crisis management expert gives his reaction to Front Office Sports.
March 26, 2024

NBA Investigating Raptors Center Jontay Porter Over Suspicious Prop Bets

The league is looking into ‘multiple instances of betting irregularities’ in recent months, ESPN reported.
March 25, 2024

Ohtani Emphatically Denies Any Knowledge of Translator’s Gambling

The MLB superstar insists his former translator has engaged in ‘theft and fraud.’
March 25, 2024

Ohtani Will Address Betting Situation. Will He Provide Clarity?

MLB said an investigation into the betting scandal is underway,