Tech

NFL chooses Caesars, FanDuel, DraftKings for sports betting partnership

Lawrence Guy # 93 of the New England Patriots will sack Jimmy Garoppolo # 10 of the San Francisco 49ers in the first quarter of the NFL game at Gillette Stadium on October 25, 2020 in Foxborough, Massachusetts.

Matt Stone | Media News Group | Getty Images

The National Football League is officially open to sports betting and has announced sportsbook partnerships with top companies Caesars, Van Duel and DraftKings.

This agreement allows sports betting companies to use the NFL’s intellectual property and use its trademarks for betting promotions. The betting company also operates in a content sharing model with the NFL. For example, betting sites will be able to use resources such as NFL highlights and next-generation stats to help set up betting lines. Companies may create their own promotional content featured in NFL Properties.

No financial terms were available, but according to contract savvy people, a five-year agreement could be worth a total of just under $ 1 billion over the entire contract period. However, he added, the NFL has the right to opt out after the third and fourth years of the contract.

Caesars will maintain league sponsorship as an “official casino sponsor” and enable casino facilities to leverage the NFL trademark. The company bought William Hill’s sports bookmaker for $ 3.7 billion last September.

Meanwhile, DraftKings and FanDuel are gaining more brand exposure in league media properties such as the NFL Network and the NFL RedZone channel.

The deal falls under the NFL’s Tier 1 deal, and the league plans to announce another wave of sports betting partnerships, but with fewer content options and more restrictions. The NFL signed a data rights agreement with Genius Sports earlier this month. Therefore, sports betting companies need to purchase Genius data in order to operate NFL bets.

The league also agreed to a media rights deal with partners NBCUniversal, Fox Sports, ESPN, CBS Sports and Amazon in March. The 11-year contract is worth over $ 100 billion.

After the announcement on Thursday afternoon, DraftKings’ share price rose 4% during non-business hours to $ 60 per share, while Caesars fell slightly to about $ 93 per share.

NFL chooses Caesars, FanDuel, DraftKings for sports betting partnership

Source link NFL chooses Caesars, FanDuel, DraftKings for sports betting partnership

Back to top button