Once upon a time, NFL was a staunch opponent of gambling. After the Supreme Court ruled on the Professional and Amateur Sports Protection Act in 2018, NFL started having a friendlier outlook on betting. Over time, NFL has understood the benefits of betting, and now the league estimates that it will generate $270 Million in Revenue from casinos and sportsbook operators.
Christopher Halpin, an executive vice president for the NFL, commented:
“You can definitely see the market growing to $1 billion-plus of league opportunity over this decade.”
Besides understanding the financial potential of betting, NFL has started surveying the market. They conducted research that showed that half are either active or aspiring/casual betters, while another 30 percent are ambivalent towards betting.
Like other professional leagues, NFL has slowly embraced regulated sports wagering. Through advertising, naming rights deals, marketing partnerships, and other agreements, the NFL is realizing new revenue streams for the league and its 32 franchises.
In April, the league got its first casino sponsor, Caesars Entertainment. Also, the league has recently announced its first sportsbook sponsor, DraftKings.
Last month, Louisiana lawmakers approved a 20-year, $138 million deal whereby Caesars gains naming to the New Orleans Superdome, home of the Saints.
NFL has also started exploring the gambling market. The league has been investing in the market for some time, and now, NFL has a 4.5 percent equity stake in sports betting data provider Genius Sports.