DraftKings Named Official NBA Betting Partner
November 06, 2019
Big-league bookie and sports betting service provider DraftKings has been named an official betting partner to the National Basketball Association. DraftKings, who happens to enjoy the loyal patronage of a significantly-sized NBA fan-base, will benefit in more ways than having access to the NBA’s official league data; the bookie will also be within its rights to use the NBA’s official logos, colours, player images and brands, etc. on its bettor platform as well as throughout the course of promotions, competitions, bet marathons, etc.
But it must be mentioned that the NBA’s deal with DraftKings is but one in a long line of similar deals with bookies and operators. The association has displayed an ongoing knack for making pretty solid business decisions, and even more so after the US Supreme Court struck down PASPA in 2018.
NBA Led The Way
Earlier on this year in October, the NBA approached and named Tabcorp to be its official Australia betting partner. And this wan by no means the first of it. Leading up to the Tabcorp agreement, the NBA did the same in the US when it named William Hill its official local betting partner on English soil.
But the very first agreement of this nature was signed between the NBA and MGM Resorts, when in July of 2018, the pair entered into a gaming agreement. Incidentally, this was true trailblazing work as the North American Sports League during that month and year became the first major sports league to have partnered with an official casino partner. What the NBA essentially did during that time was to open the playing field so that others were able to follow its lead without fear of too much of a recourse and backlash. All it took was for one to pass though the tunnel in order to free up others who wanted to do the same.
Getting In Early
The very reason behind bookies and operators like DraftKings and rival FanDuel (who also happens to be an official betting partner to the NBA) entering into agreements with the big leagues is that those agreements offer to the operators very a many additional betting options. They suddenly have instant access to date that others have to wait days for and its all right there for the taking. Also, fans are very much inclined to focus on brand-specific imagery.
By acquiring the rights to make use of official images, the promotional authenticity ante is pushed up even more. Bettors tend to respond to what they see during the first few seconds of looking at an image. After that, it’s an open playing field worked by all. It’s therefore important not only that the first impression should be a good one, but also that it should be a lasting and prominent one.
All About Revenue
At the end of the day, it must be kept in mind that everything comes down to the actual revenue of the matter, and what with the latest projections indicating that the sports betting industry will be worth a fantastic $7 billion in annual value by the time the year 2025 rolls around, there’s no time quite like the present to set the big wheels of progress and big-name partnerships in motion.
The industry is positively exploding with interest from all ends and the growth currently experienced is something that has not before been witnessed in sports or entertainment. What with states joining in one the sports betting song and dance one after the other, it will soon be a situation of having to have gotten in early or really not at all