The University of Colorado’s deal with betting operator PointsBet is worth over $1.625 million. The deal, believed to be one of first of its kind in major college athletics, was announced in September.
PointsBet will pay Colorado quarterly, with the amounts increasing each year — in 2021, that will be $305,000. The university will additionally receive $30 per customer referred with a promo code to PointsBet.
On PointsBet’s end of the deal, the company gets advertisements at Colorado sporting events — including at Folsom Field, and on broadcasts. According to the contract, each regular season CU football radio broadcast must include one pregame segment featuring PointsBet, a 10-second “live mention” during the game and three 30-second in-game commercials. Thirty-second advertising spots in the postseason will cost PointsBet an additional $600.