Official betting partnerships are a great way for sportsbooks to gain access to a large portfolio of valuable relationships. Sportsbooks will get the chance to build up their presence in a number of states. They will also have a chance to work with industry leaders and movers and shakers.
NASCAR is one of the biggest sports in the US and is a great market for sportsbooks. Fans can enjoy an exciting, data-driven, live experience when they bet on a race. The official product features over 25 in-race bet-types and gives sportsbooks the ability to take bets on every lap of every race. BetMGM, Fubo, and Penn National have all been included in the official NASCAR betting markets.
Other major sports leagues have also signed official betting partnerships, including the NBA and NFL. DraftKings is one of the leading companies in this sector and has agreed an expansive range of deals. In July, DraftKings was designated as the first “Official Betting Operator of the PGA TOUR”.
In the UK, the Betfred and PointsBet platforms have both partnered with sports teams and leagues. Last year, over $58 billion was legally bet on in the United States. There is also a growing number of partnerships in Canada, where the NHL and Major League Baseball have signed official betting contracts.
For sportsbooks, the biggest challenge is to find a mutually beneficial sports betting partnership. It is important to find common ground with companies that share a common vision.