Sports Betting Explosion Gives 32 NFL Teams 40% Revenue Bump

Sports Betting Explosion Gives 32 NFL Teams 40% Revenue Bump

NFL teams to get 40 percent bump in revenue thanks to sports betting

SponsorUnited did an investigation and found that the 32 teams that make up the NFL will make 40 percent more money from sports betting contracts in 2022-23 NFL season.

This was an analysis of relationships between sportsbooks and individual NFL clubs, not the league as a whole, so let’s get that out of the way first. Caesars, DraftKings, and FanDuel are all partners of the National Football League’s (NFL), which does have its own partnerships. The various franchises, on the other hand, are allowed to negotiate their own individual sponsorship deals.

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According to a news release issued by SponsorUnited, the number of such sponsorships has increased by 40 percent in comparison to 2021.

According to SponsorUnited, “more than 25 NFL teams currently have at least one” sponsor for either daily fantasy contests or sports betting.

Related Story: Boyd Gaming Forms Partnership with the Las Vegas Raiders 

The specifics of these transactions change depending on the laws that govern the area. There are several locations in which the gambling partner actually runs a real sportsbook in or near the stadium where the NFL team plays.

In other arrangements, the partner only receives some advertising space during the game. There are also more scenarios that fall somewhere in the middle of these two extremes.

Growth of US Sports Betting Market Drives Revenue 

The year 2022 marked the debut of the first legally sanctioned sportsbooks in the states of Kansas, Maryland, and New York. In addition, Ohio and Massachusetts both passed laws that brought them into line with the rest of the crowd.

As a direct consequence of this, a greater number of NFL franchises have signed sportsbook partnership agreements.

Teams such as the Baltimore Ravens, Buffalo Bills, Cincinnati Bengals, and Washington Commanders were among those involved. In the case of the commanders, they were able to receive payment in two different ways.

They were able to participate in the action thanks to the regulatory structures in place in both Maryland and Virginia. Because of this, they were able to make sponsorship deals that worked for both states.

Even if that element contributed to the revenue source’s increase in 2022, it may be the reason why growth is slower in 2023. The expansion opportunities do not appear to be as favorable.

Projections for 2023 Aren’t Looking Good

The candidates for the anticipated legalization of sports betting in 2023 are not in locations that are as convenient for NFL teams. Georgia, Missouri, and Texas are three of the states that currently have National Football League teams playing within their boundaries and are considering passing legislation to legalize sports betting. There is a good chance that discussions on the subject will also take place in the states of Minnesota and North Carolina.

However, this year does not appear to be the year that any of those states will legalize the practice of sports betting. The amending of the respective states’ constitutions is one potential path to legalization in Georgia and Texas. For it to happen, the states’ voters would need to give their blessing. If such a vote were to take place, it would not take place until November of 2024 at the earliest.

In both Minnesota and Missouri, the interests of several factions might impede forward movement. The tribal casinos in Minnesota are seeking monopoly status with regard to legally sanctioned sports betting. In the state of Missouri, the problem of regulating concurrent video lottery terminals has become a hurdle once more.

The month of March should see the launch of online sportsbooks in the state of Massachusetts. On the other hand, that might be the sole launch of a state-level sportsbook that takes place in 2023. If that turns out to be the case, then it’s likely that the money generated by sports betting on NFL games won’t grow very much in 2023.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.