As sports betting takes a hold of the US market, many sports teams and leagues are looking to leverage the popularity of the growing sector by forming profitable partnerships with operators.
What is it?
In the latest edition of the Sports Gambling Education (SGE) webinar series, panellists discussed the importance of gambling sponsorship deals as sports betting becomes legalised across more and more US states.
Who is it?
Jim Kahler, Director of SGE at Ohio University
Bob Lynch, Founder/President of Sponsor United
Chad Groves, Partnerships at Sponsor United
What is being said?
Providing a round-up of some of the biggest players in the betting sponsorship space, Lynch noted: “DraftKings continues to lead the way in terms of partnerships and the diversity of partnerships that they have, both within the sponsorship space as well as within media. What we’ve seen over the last 12 months or so is that everyone is certainly aware of what FanDuel does. BetMGM and PointsBet have really come into the frame much more as well now some of these opportunities have opened up.
“Prior to being acquired by Bally’s on the non-transactional side of things, Monkey Knife Fight started to make a pretty big dip into the sponsorship space doing some creative things and that probably helped them in terms of being acquired because they were able to quickly gain a nice following.
“William Hill hasn’t kept pace in that regard I would say. When we look globally, they are about fifth most active in terms of partnerships that they have, more so on the international side, and Betway, if we factored in internationally, they’re a top three brand as well.”
Identifying esports as a ‘big area of growth’ for sponsors and esports teams alike, Groves added: “Esports across the board, we’re starting to see one team or another in every single state that has a dominant following.
“Now, we work with over 50 esports organisations that are almost always looking for a betting partner if it’s legal in their state. A lot of the time, it’s major assets like the jersey patches, presenting sponsors for the team themselves or oftentimes it’s a lot of promotional campaigns through their Twitch streams or whatever they utilise. So, while esports has been up and coming during COVID and it’s one of the few areas that’s able to thrive on the digital side, there’s going to be a lot of tapping into esports where it makes sense.”
Why should I watch it?
To hear insights about commercial alliances between professional sports teams and leagues and betting companies, and what makes a successful partnership.
Where can I see more?
Source: SGE YouTube Channel