Gambling has long been a grey area in American sports, but that has changed a lot with the legalization of sports betting in many states. To take advantage of these changes, the NHL has partnered with MGM Resorts to become the first major professional sports league in the US to allow gambling sponsorships.
This significant shift could pave the way for more partnerships between professional sports leagues and the gambling industry.
Is There Any Shift?
While gambling has long been considered taboo in American sports, this is beginning to change. Several states have legalized sports betting recently, and more are expected to follow suit. This, in turn, has led to an increase in gambling-related sponsorship, with companies looking to capitalize on the growing interest in sports betting.
In addition, the rise of iGaming has made it easier for people to gamble on sports online. As a result, it is now possible for anyone with an internet connection to bet on their favorite team or player at safe online gambling sites. While some still oppose gambling in sports, it is clear that the tide is beginning to turn.
Sponsors now see the potential to reach a wider audience through gambling sites, and many believe that it is only a matter of time before gambling is fully legalized in the United States. While there are still some concerns about the potential for corruption and match-fixing, gambling in sports is here to stay.
NHL and iGaming Sponsors
The NHL has had a long-standing relationship with gambling and iGaming sponsors. NHL games have been televised on networks with gambling interests since the early 1980s, and the league has had team deals with gambling companies since 1992. In 2012, the NHL entered into a partnership with MGM Resorts International, which included NHL content being featured on the MGM website with the best-paying slots in the US and app.
The NHL also has partnerships with daily fantasy sports platforms DraftKings and FanDuel. And in 2019, the NHL signed a multi-year deal with BetMGM, which made BetMGM the official sports betting partner of the NHL. These relationships have continued to grow in recent years, and there is no doubt that they will continue to be an essential part of the NHL’s sponsorship portfolio.
Reasons for NHL’s Cooperation
The NHL has been looking for new sponsorship opportunities and found them in the world of gambling and iGaming. This massive step for the NHL could mean big things for the league’s future.
NHL Commissioner Gary Bettman has said that the league is “open for business” regarding gambling and iGaming sponsorships. This is a vast market and one that the NHL is looking to tap into. There are a few reasons why the NHL is looking for gambling and iGaming sponsors.
There are many reasons why NHL teams would want to partner up with iGaming companies. For one, NHL teams can receive money through sponsorship deals with iGaming companies. Secondly, the general public now widely accepts gambling, which is no longer considered a taboo activity. This means that NHL teams can now use gambling-related products and services without fear of damaging their reputation.
Finally, iGaming companies can provide NHL teams with valuable data and insights that can help them improve their performance. In conclusion, there are many benefits for NHL teams when it comes to partnering up with iGaming companies.
NHL teams are starting to form partnerships with iGaming companies, and there are several benefits to this type of sponsorship. As more states and provinces begin to allow sports betting, the NHL stands to gain even more fans and generate even more revenue. Consequently, NHL teams should seriously consider partnering with iGaming companies to improve their financial position and grow the sport of hockey.