The NFL is the latest professional sports league to sign official betting deals. It announced three sportsbooks as official betting partners, allowing them to use official league data and promote their relationship with the league by tying their brand to statistics. This five-year deal will pay the league nearly $1 billion over the duration of the league’s existence. It is worth noting that the league has the right to opt out after the first three years. The NFL also has the right to end the partnership early if the betting relationship is no longer beneficial to the league.
In addition, betPARX plans to offer branded fan experiences during the Memorial Tournament to elevate the fan experience. The company’s involvement in the Memorial Tournament helped it break into the sport, and it has parlayed its influence into becoming the official betting partner for the entire PGA Tour. It will have access to PGA Tour intellectual property and marks, as well as video highlights. And that’s just the start of the partnership. Official betting deals can be lucrative.
The WBSC’s statutes clearly define who is a participant. The term “participant” includes a player, team staff, and tournament officials. The rule also prohibits an individual from promoting illegal betting activities in their personal capacity. Similarly, club sponsors are not in violation of the betting rules. Therefore, if you want to place a bet on a professional sporting event, check out the league’s laws before betting online.