Denver Broncos and FanDuel Become First NFL Betting Partners
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The Denver Broncos inked a multi-year partnership with FanDuel Sportsbook on Monday. This deal is the first of its kind in the NFL as FanDuel becomes an official sports betting partner and daily fantasy sports partner of the Broncos.
“FanDuel has built a strong reputation as a premier gaming destination for sports fans,” Denver Broncos Chief Commercial Officer Mac Freeman said. “The ways they smartly reach people through engaging and entertaining content is in line with the Broncos’ innovative thinking when connecting with our fans.”
The partnership gives FanDuel access to Broncos marks and logos to use across their Colorado platform. Also, FanDuel will be able to advertise on the Broncos radio, television, and digital platforms.
Also, Broncos fans in the state of Colorado can take advantage of the offers FanDuel is providing. FanDuel’s first offer is giving new bettors in Colorado the Broncos +30 for week one. Also, they’re offering new bettors +100 for a max bet of $50.
The Fanduel-Broncos partnership is non-exclusive. Denver will be allowed to partner with other sports betting companies if one comes along.
Sports gaming companies have been able to partner with NFL teams, but not for sports wagering. Last year, the Indianapolis Colts partnered with FanDuel for a “fantasy sports” promotion. However, the partnership with the Broncos makes this the first of its kind in an actual sports betting partnership. The deal was able to happen after the NFL retracted their rule on NFL teams and sports betting partnerships.
Moving Forward with NFL Teams
With a first of its kind deal inked, expect more teams to follow suit. Back in January of 2019, the NFL partnered with Caesars Entertainment, which was the first partnership with a casino the league had.
Now, the Broncos become the first team to partner with a Sportsbook. The way sports betting is growing, more organizations will partner with sportsbooks across the NFL. Not to mention, an NFL team is moving to Las Vegas, which happens to be the Mecca of sports betting.
One unique thing about the Broncos and FanDuel deal is that the Broncos are allowed to partner with other sportsbooks. The agreement opens up the possibilities of multiple teams partnering with various sportsbooks.
For example, DraftKings could come along also partner with the Broncos making FanDuel compete for bettors. Sportsbooks could offer better odds for fans, favorite teams if they sign up with them instead of their competitor.
Now, this scenario might not happen for a while as sportsbooks will try to ink their first NFL before competing with others. However, the possibilities with America’s most popular sport are endless.
Could Sports Betting Partnerships Push Legalization?
This deal might kickstart sports betting legislation across the U.S. Sportsbooks might not want to make deals with NFL teams, or other professional teams until their respective state legalizes sports betting. If sportsbooks aren’t able to launch in individual states due to legalities, what’s the point for them to partner with a team.
Take California, for example – amongst the four major sports leagues in the U.S., California has 16 professional teams. If the state has issues legalizing sports betting, then sports betting companies will not want to partner with them.
This might leave potential revenue for both the gaming company and the team. Franchises could help push for sports legalization, especially if it means adding to their bottom line.
The Broncos/FanDuel deal is the tipping point in an emerging industry. The MLB, NBA, and NHL all have partnerships with sports gaming companies. Partnerships will help both sides generate more money. Betting companies can put kiosks and sportsbooks in teams stadiums, so they can bet on their favorite team as they walk in.
Deals like this could push for more legalized sports betting across the state, notably when billion-dollar franchises are missing out on potential revenue streams due to legalities. The possibilities are endless.
