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Saturday, February 24, 2024
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NFL Already Cashing In on Sports Betting

  • The NFL has fully embraced sports betting, and is already making a tidy sum in sponsorships and other gambling-related revenue.
  • The league named three official sportsbook partners in April.
Kirby Lee-USA TODAY Sports/Design: Alex Brooks

The NFL helped lead the legal fight against sports betting in the U.S. Having lost, the league has now fully embraced having some skin in the game.

This season, sportsbooks will be allowed to advertise during games for the first time. While specifics have not been made public, the league will reportedly allow six television sportsbook spots per game, with broadcasters CBS, NBC, FOX, and ESPN free to negotiate with sponsors

Although legal sports betting is in its nascent stages in the U.S., the NFL is set up for success.

  • The NFL struck sponsorship deals with FanDuel, Caesars Entertainment, and DraftKings in April, allowing those companies to display NFL content in their apps and integrate with media properties such as NFL.com. The five-year agreements are collectively worth around $1 billion, per the Wall Street Journal.
  • The league is also permitting WynnBET, BetMGM, PointsBet, and Flutter’s Fox Bet to advertise during games.
  • The American Gaming Association calculated in 2018 that sports betting could eventually add $2.3 billion to the NFL’s annual revenue.

The online gambling industry, which includes sports betting and casino-style games, could reach $40 billion in the U.S. in the next decade, according to analyst estimates.

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