On Monday, the Philadelphia 76ers announced a multi-year partnership with Betway, a global online sports betting company owned by Super Group. Betway was founded in 2006 and has licenses in several countries, including the United States, United Kingdom, Sweden, Denmark, Italy, Spain, Belgium, Ireland, and Malta, where the company is headquartered. Betway has launched in New Jersey, Indiana, Colorado, and Pennsylvania in the US, where the 76ers play their home games. Betway now has partnerships with seven different NBA franchises.
Pennsylvania Sports Betting Overview
Pennsylvania launched its legal retail sports betting market in 2018 and digital market in 2019 as one of the first states to dive into the industry. Pennsylvania remains one of the largest states to launch legal sports betting and consistently sees the third-largest sports betting monthly handles behind only New Jersey and Nevada. The market in Pennsylvania is somewhat hindered by high $10 million license fees, a 36% tax rate on gross gaming revenue, and a limit of only 14 operator licenses. Still, Pennsylvania should continue to be among the leaders in the sports betting market thanks to its large population and high-profile sports teams.
Betway targeted a partnership with the 76ers to boost its brand recognition in the demographic of basketball bettors, and it has planned out several activations to accomplish this goal. Betway signage will be displayed throughout the Wells Fargo Center during the 76ers’ regular-season home games including on team benches, courtside LEDs, basket stanchion LEDs, and on TV-visible signage across the scorers’ table. These elements will be exclusive to locally televised games and excluded from national broadcasts.
Betway will also sponsor a social media sweepstakes for fans to enter for the chance to win free tickets to 76ers’ home games – entry for this sweepstakes is now open. Betway will also sponsor pre-game statistics and insights to encourage fans to make educated wagers on the upcoming game. The 76ers will also provide Betway with brand exposure and recognition on social media platforms through official team Instagram, Twitter, and Facebook accounts.
Both Parties Expect Success from Partnership
The Philadelphia 76ers expressed their excitement about the opportunity to partner with one of the leaders in international sports betting and a platform that will provide premier betting experiences to the team’s fans. Owen Morin, Senior Vice President of Corporate Partnerships, emphasized that Betway will provide “elite experiences” to 76ers fans, including “premier betting offerings.” Anthony Werkman, Betway’s CEO, expressed that the company is thrilled to work with the 76ers as it presents an opportunity to engage with fans who can access the Betway product in the Pennsylvania market. Werkman also stressed that the vital marketing assets offered by the 76ers would help make the partnership a great success.
76ers Continue Building Partnerships
Betway is not the first sports betting company to reach a deal with Philadelphia’s NBA team. The 76ers also have official partnerships with BetMGM, DraftKings, Fox Bet, and BetRivers, all of which are among the most prominent sports betting brands in the United States. The 76ers are no stranger to innovative partnerships with up-and-coming brands in rising industries. Last month, the team announced a long-term collaboration with Crypto.com that includes a jersey patch partnership. The 76ers also announced a collaboration with Philly-founded delivery service GoPuff. As the sports betting industry continues to grow, we expect more partnerships between NBA teams and sportsbooks.