The news of the National Football League’s deals with FOX Bet, BetMGM, PointsBet, and WynnBET is exciting. They are a major part of the league’s foray into gambling after decades of avoidance of a sure money-maker. But you’re probably wondering just what the heck a sportsbook is, right? Well, let’s get into that. First, the particulars.
On Monday, the NFL reported:
The National Football League (NFL) today announced it has reached agreements with FOX Bet, BetMGM, PointsBet, and WynnBETto become Approved Sportsbook Operators for the 2021 NFL season. These agreements make all four operators eligible to purchase NFL in-game commercial units and other select NFL media inventory.
This past April, the NFL announced its first-ever U.S. sportsbook partnerships with Caesars Entertainment, DraftKings and FanDuel. As part of those deals, in addition to having the exclusive right to leverage NFL marks within the sports betting category, integrate into NFL O&O properties, and activate around retail and online sports betting, Caesars Entertainment, DraftKings and FanDuel may also leverage their Approved Sportsbook Operator status to secure premium NFL advertising inventory during games and around ancillary programming. No sportsbooks outside of these seven operators will be permitted to purchase this select NFL advertising and media inventory.
“We are pleased to announce this select group as Approved Sportsbook Operators,” said Nana-Yaw Asamoah, Vice President of Business Development for the NFL. “Along with our three Official Sports Betting Partners, this group of operators will help the League to engage fans in responsible and innovative ways this season as the sports betting landscape continues to evolve.”
In support of the NFL’s commitment to protect the integrity of the game and its fans, all operators have agreed to adhere to the NFL’s core integrity policies, collaborate with the NFL on information sharing and advocacy efforts and support the NFL’s responsible gambling efforts. All operators will also license Official League Data from the League’s Official Data provider, Genius Sports.
The NFL then gives us a presentation of each of the firms involved. But the one question not addressed is simply…
What Is A Sportsbook And Why Is It Important Here?
Well, in the NFL parlance, a Sportsbook is a place where you and I can go to bet on whether or not the Dallas Cowboys will beat the Super Bowl Champion Tampa Bay Buccaneers in the upcoming NFL Kickoff Game for 2021 NFL Season. The FOX Bet, BetMGM, PointsBet, and WynnBET Sportsbooks will make their money from the commission they get from the losing bets placed. So, right now, some bettors have the Buccaneers wiping the field with the Cowboys, to the tune of a 30 to 15 score. If you picked Dallas to win, you lost – and the commission you paid as part of your bet is kept by the Sportsbook.
Now, you might think that a Sportsbook is a physical place, and perhaps visions of guys and gals with drinks and cigars looking at big screen TVs in a Las Vegas hotel come to mind.
Well, that’s one way of looking at it. Let me help you:
And I am jealous I don’t have a Sportsbook video in my giant Zennie62 YouTube collection of vlogs. I will change that, soon. Meanwhile, you get the point. You should also get that the NFL had concerns because Sportsbooks are also online, and some are just plain not legal.
On that topic, SportingCharts explains:
Many casinos have a sports book within their walls, but a majority of gambling on sports is done via the internet. There are also many illegal sportsbooks that exist throughout the country. These illicit venues operate through private networks and as such, regulate themselves through violence, extortion, or more commonly, by refusing to take bets. A sports book will often have all the active games available to bet with betting lines displayed prominently for all to see. The casinos offer comfortable surroundings, HD televisions, and many other amenities in their sportsbooks. The term comes from the actual notebook that those receiving the bets and making the lines would use to keep track of bettors.
That’s why the NFL had the part in about “the integrity of the game” and the four companies being the NFL’s “Approved Sportsbook Operators”. In fact, here they are:
FOX Bet
FOX Bet is the only sports wagering operator in the United States fully integrated with a leading media company – offering users an exciting way to combine their passion for the live games on FOX Sports with FOX Bet’s robust and differentiated product suite – including the FOX Bet Sportsbook app and market leading free to play game FOX Bet Super 6.
With nearly 100 million contest entries since launch in September 2019, over 50,000 winners nationwide and a user base of nearly 5 million, the FOX Bet Super 6 app has given away close to $5 million in prizes. FOX Bet Super 6 boasts by far the most downloads in the free-to-play category of Sports Prediction Apps (includes Fantasy) since July 2020.
FOX Sports and FOX Bet are reinventing how fans watch and root for the teams they love.
BetMGM
BetMGM is a market leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM’s U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain’s US-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. BetMGM is currently available in NJ, WV, IN, NV, CO, TN, PA, IA, MI, VA, DC
For more information visit http://www.betmgm.com/.
PointsBet
PointsBet, one of the fastest growing online gaming operators in the country, is a cutting-edge bookmaker originally founded in the mature sports wagering market of Australia. Currently operational in seven U.S. jurisdictions (CO, IL, IN, IA, MI, NJ, WV), the company prides itself on offering unmatched speed and ease of use across every customer touchpoint as well as the deepest slate of pre-game and in-play betting options in the world, thanks to owning and controlling its technology end to end. While most operators outsource core functions to third parties, PointsBet is an anomaly in the sports betting space in truly owning their roadmap, avoiding any third-party technical or risk management dependencies – a point of difference that allows enhanced creativity to benefit consumer fan engagement, including bet types that cannot be found anywhere else, to a world-class suite of exclusive product features like “PointsBetting” and the Name-A-Bet platform, to deep Spanish language functionality, and so much more.
WynnBET
Wynn Interactive is the online gaming division of Wynn Resorts, Ltd. (Nasdaq: WYNN) offering a world-class collection of casino and sports betting mobile options for discerning players who understand the difference between placing a bet and experiencing a bet. WynnBET is anchored by its eponymous mobile sports and casino betting app providing one-of-a-kind experiences, unique social betting mechanics, and a high-quality user interface. Currently available in seven states, WynnBET is poised for rapid expansion in 2021 with license applications pending in several states. For more information, please visit www.WynnBET.com.
So, let’s see how all of this plays out. I, for one, thing this is exciting. And, no, I didn’t think so in the past. But the technology today makes this NFL Sportsbook Deal, well, a safe bet.
Stay tuned.