Betfred Now Official Sponsor To The Broncos
June 23, 2020
The first of the two sponsorship deals, namely that of FanDuel and the Denver Broncos, is the very first bookie-sponsored partnership to be concluded since major league football approved betting sponsorships in February this year. Not only are US football franchises now permitted to sell official bookie sponsorships within their own home-team markets, but they are furthermore also allowed to display bookie-branded signage and other advertising banners and materials in their home-stadiums as well as on their respective official team websites.
Long-Term And Big Names
Even though the exact terms of the Broncos-Betfred deal have not yet been made public, the deal has been confirmed as being a multi-year deal and a big money deal at that. The same applies to the deal between the famous football team and FanDuel. The significant size and long-term nature of both contracts have been confirmed as such by Brady Kellogg, who is the Broncos’ Senior Vice President of corporate partnerships. Kellogg also confirmed that provided that the “fit is right”, the Broncos are at liberty to enter into a third partnership with a third bookmaker if such an opportunity were to arrive and be deemed necessary or beneficial, or both.
Kellogg also revealed a bit about what the Broncos’ approach has been up until now, with specific reference to attracting sportsbook partnerships. According to the VP, the team never set out to be “first in” on the legalised sportsbook sponsorships front, but that instead, the focus has all throughout been on entering into the best possible partnership with the sportsbooks most in line with the Denver Broncos brand. Not only do FanDuel and Betfred complement one another on sportsbook brand level, but according to Kellogg, both sportsbook brands fully realise the potential value of competing “aggressively” for the bigger market share.
Broncos Making The Difference
Colorado, which is of course home state to Denver and the Denver Broncos, is quickly shaping up to be a sports betting haven not only to sports fans but also to bookie brands. There are currently no fewer than 20 online bookmakers registered and actively trading in the state. The ever-present danger forever lurking at the door is obviously that of an over-crowded market, which makes Betfred’s sponsorship deal with the Broncos even more valuable in terms of differentiated market share and value. Its essentially a sponsorship relationship that will ensure Betfred remaining one step ahead of the rest of the pack at all times.
Sports betting was only fully legalised in Colorado State on May 1st, and so a massive influx of operators would have been well expected – especially since the majority of sportsbooks have had their applications and licence fees right and on the ready for months in advance leading up to the big day.
Same State – Different Approach
It must also at this stage be mentioned that even though Betfred will to some extent be sharing the position of ‘market differentiated’ with FanDuel, there remain a number of significant differences in the two bookmakers’ approaches. While FanDuel has from the onset focused exclusively on the taking of a national scaled approach, Betfred has opted in on a more localised – and in many ways personalised – approach. The focus is therefore exclusively on local markets.
Colorado is officially the second US state invested in by Betfred from a sponsorship perspective, with the first having been that of Iowa State.