A new wave of official betting partnerships is filling our social media feeds. This new breed of partnerships is designed to bring together major industry players and create a unified brand. These partnerships are not one-off projects, but large portfolios of long-term relationships. One of the sector’s leading brands, DraftKings, has already signed an expansive slate of deals that have strengthened its presence in multiple states.
While there are still challenges to overcome in this new market, many states have made the move towards legalized betting. Since May, seven states have allowed the practice, with several more set to follow suit later this year. The NFL has claimed that legalized sports betting threatens the moral thread that binds sports together. However, some New Orleans Saints fans disagree with that assertion, especially after the team’s first season.
When sports betting in the United States became legal, NASCAR sought a betting solution that would provide its fans with the best possible experience. To help them achieve this goal, the organization created the first-of-its-kind official sportsbook product with more than 25 in-race bet types, including parlays and futures. This new product provides fans in regulated states with an authentic, live experience.
The law also allows teams, leagues and casinos to launch a sportsbook. Applicants must prove an incremental economic benefit to the state to gain a license. The state expects to issue 25 licenses to sportsbook operators, though there could be more. Sports betting will be taxed at a rate of 10%.