The list of partnerships between bookmakers and sports teams or leagues keeps on growing and this time around, PointsBet and BetMGM are in the news with their deals with the NBA’s Indiana Pacers and with NASCAR, respectively.
While some of these partnerships are purely sponsorship plays, others also bring along more wagering options with them. And those options mean that we, as sports traders, have more avenues to research to see if we can find something of interest that makes it into a trading system.
What do these two deals mean in practice and why were they struck? You’ll find the details below.
PointsBet becomes the Pacers’ official gaming partner
PointsBet and the NBA’s Indiana Pacers have announced a multiyear partnership – something that all sportsbooks currently seem to try to achieve with major sports teams.
The agreement will see the company’s branding all over the Pacers’ arena and PointsBet will be featured in the digital platforms of the team. The deal currently does not include a sportsbook within the arena, unlike in the recent agreements that William Hill and BetMGM have struck in Washington D.C. and Denver, respectively.
With just over 2% share of the US sports betting market, PointsBet is currently still a niche player. Striking a deal with the Pacers could go a long way in making sure that that share keeps on growing in Indiana. And that’s what their CEO Johnny Aitken called out for – a local approach to get close to true sports fans.
The total handle for the legal sports betting market in Indiana since its launch in September 2019 exceeded $1 billion this July – an impressive feat, considering the difficulties sportsbooks have had to deal with during the pandemic. The market in the Hoosier State looks very promising, and PointsBet faces tough competition from the likes of FanDuel, DraftKings and BetMGM.
Previously, PointsBet has announced partnerships with the NBA, the Detroit Tigers, the PGA Tour and with Kroenke Sports and Entertainment. The deals with the Tigers and with Kroenke Sports – the owner of the Denver Nuggets and the Colorado Avalanche – are very similar to the new agreement with the Pacers.
BetMGM and NASCAR enter partnership
With the major leagues on pause for a significant proportion of the spring and the summer, NASCAR has seen a lot of betting action in multiple states.
BetMGM have noticed, as they announced a multi-year partnership that allows them to promote officially branded NASCAR offerings in all of their retail and mobile platforms. The company has reported a year-to-year growth of over 1300% in their NASCAR handle since the beginning of 2020.
This is yet another example of sportsbooks partnering up with leagues and promoters in an attempt to provide more immersive offerings to fans. BetMGM will enrich their betting offering in collaboration with NASCAR to include more pre-race, live betting and prop bet options.
The company operates in seven states and plans to expand that number to eleven by the end of the year.
We already mentioned that BetMGM recently announced upcoming betting lounges in Broncos Stadium as a part of a partnership with the NFL team. The company also has similar agreements in place with the NBA and the PGA Tour that PointsBet has along with a deal with the NHL, and they are also the exclusive betting partner of the National Lacrosse League.
Additionally, the company has provided free-to-play gaming experiences to the customers of Buffalo Wild Wings and Taco Bell through partnerships with the restaurant franchises.
Legal sports betting is growing fast
2020 has been a big year for legal sports betting in the US. For some of the latest developments, have a look at our recent articles:
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The ScoreMetrics Lab is the engine that runs the Sports Trading System operation, consisting of a team of researchers and writers who are constantly testing and retesting algorithms. They work hand in hand with our Head Trader and Creator of ScoreMetrics, John Todora to help find new breakthroughs and develop new systems.