Sports wagering is increasingly becoming popular in the United States as it is being legalized in various parts of the country. According to a source cited by Statista, “The sports betting industry in the U.S. generated revenue of 1.55 billion U.S. dollars in 2020.” As the regulated sports wagering market is relatively new in the U.S., sportsbooks are teaming up with sports teams, leagues, and players to not only promote their brand through these various sporting events but also use important data for their platforms.
DraftKings collaborating with the American mixed martial arts promotion, UFC, is one of the most important partnerships struck between a sportsbook and sports promotion as it grew DraftKings’ brand. Through the partnership with the UFC, DraftKings continues to benefit from “in-game promotions, activations, in-broadcast odds integrations and UFC branding across its daily fantasy and betting products and possessing rights to use official UFC marks and logos.” These features have allowed DraftKings to keep growing its brand in daily fantasy sports as well as sports wagering. UFC on the other hand benefits from higher engagement with new and existing fans.
Along with brand development, sportsbooks collaborating with sports leagues, teams, and players have also benefited from highly important data. Recently, FanDuel became the first authorized gaming operator for the Women’s Tennis Association (WTA). As part of the partnership, WTA provided FanDuel access to its video highlights, trademarks, and, most importantly, its “official scoring data from Stats Perform.” Scoring data includes important match stats which assure fair odds and fantasy sports-related information for sportsbooks, which players can benefit from. In addition to scoring data, WTA and FanDuel will also collaborate on responsible gaming strategies—indicating a stronger and extensive partnership between a sports organization and a sportsbook.
Due to the popularity of sportsbooks in the United States, sports-related organizations are also looking to launch their own sports wagering platforms. Recently it was announced that the sports publication, Sports Illustrated, and gaming company, 888 Holdings, would be working together to develop online sports betting and iGaming products in the United States. It is reported that Sports Illustrated will launch its platform this fall with “a robust array of betting information and comprehensive coverage along with in-depth analysis, tools, and widgets on its digital platform.” To provide the best wagering experience 888 Holdings has also incorporated a stronger and diverse payment processing partner. It was recently announced that Nuvei will power payments for the SI Sportsbook. A collaboration between Sports Illustrated and 888 Holdings showcases how sports organizations and sportsbooks can work together to create better brand awareness and a stronger data-driven gaming platform.
As more states legalize sports wagering, it will create new and diverse collaborative opportunities for sportsbooks and sports organizations. These partnerships will play an important role in brand development, responsible gaming measures, and data analysis, which in return will establish licensed operators as the go-to platforms to place wagers on in the United States.