After years of vocal opposition to the practice of sports betting, the NFL took another giant step towards acceptance. When FanDuel and Denver Broncos unveiled multi-year sports betting partnership on Monday, marking the first deal of its kind since NFL relaxed its rules on gambling sponsorships earlier this year. Creating a new era for gambling companies to partner with NFL teams.
The NFL altered its script policy on sports betting deals earlier this year, allowing teams to negotiate sponsorship deals with sportsbooks for the first time and name an official sportsbook partner.
Sports gambling became operational in Colorado in May, after legalizing the practice of sports betting last November when the state legislators passed proposition DD, and projections from Odds.com depict that the centennial state could expect $222 million in total gaming revenue in 2020. The 10% tax levied on these earnings will gift the state coffers an extra $22 million.
FanDuel has resurfaced and has made its presence known by striking its first official deal with NFL team, Denver Broncos. This deal will have the FanDuel gain full access to the Broncos logo and marks for their online sportsbook platform and DFS (daily fantasy sports) product in the state of Colorado. That’s not all, as FanDuel will also be able to aggressively advertise inside stadium, radio, TV, and even digital signage, which will be seen by thousands of Denver Broncos fans.
Through this deal, both the FanDuel and the Broncos will offer fans unique experiences and other once-in-a-lifetime opportunities. It will be successful as the Broncos fanbase is incredibly loyal, and they have a die-hard attitude towards their favorite team. This deal is set to benefit the fans as both parties are looking at a variety of ways, which will allow them to treat them to new experiences, both online and in person.
New sportsbook clients will receive a variety of unique promotions that will allow a +30 on the point spread for the Broncos at Week 1 and a 7.5 over/under on the total wins for the Broncos, which will set at +1600 with the maximum bet of $10. New and existing FanDuel members will be able to receive unique odds boosts for Broncos games for them to win during Week 1.
Still, the NFL continues to forbid players and coaches from appearing in marketing materials for sports betting companies. Again, it agreed to allow teams to make a brand the official sportsbook of the team. Stadium and practice facility naming rights remain off-limits.
Interestingly enough, Broncos Chief commercial officer Mac Freeman stated that the boundaries of what forms of betting-related information can be visually displayed within the stadium had not been set.
Colorado will have the benefit of geography over the long haul since it borders Arizona and Utah, a state that potentially may never legalize sports betting. And the sports betting partnership is non-exclusive, meaning that the Broncos can still sign similar deals with other sportsbooks, the Denver Post reported.
Rachel Lott is a Reporter for Chroniclex After graduating from Cuyahoga Community College, Rachel got an internship at USA Evening and worked as a Reporter and Producer. Rachel has also worked as a Reporter for WKYC TV and Fox News Channel. Rachel Covers International Developments.