The recently announced sports betting partnership between Denver Broncos and sportsbook operator FanDuel is the first of its kind for an NFL franchise.
The deal follows the decision made by the NFL four months ago to allow such partnerships from May 1 in states that have legalized sports betting. The news is also an indicator of the further strengthening relationship between sportsbooks and the NFL since a federal ban on sports betting was struck down in the US Supreme Court in May 2018.
It’s expected other NFL teams including New Jersey-based teams, New York Jets and New York Giants, and the Philadelphia Eagles will follow suit and pen similar deals in the run-up to the scheduled NFL kick-off in September. New Jersey and Pennsylvania both operate regulated sports betting markets.
While franchises will benefit financially from sponsorship and exposure, the fans stand to be the real winners of the new partnerships expected to become the norm for teams in legal states. Fans of the Broncos have been guaranteed access to unique betting promotions, exclusive content, and access to a ‘premier gaming destination’.
But, unfortunately, such a deal will not be forthcoming for the Miami Dolphins. At least not yet. As mentioned, teams can only sign deals if sports gambling is legal in their state.
While eighteen states have launched a form of regulated sports betting since 2018, sports betting in Florida is not yet legal.Â
As it stands, gambling is permitted at several brick-and-mortar casinos operated by the Seminole Tribe of South Florida, as well as pari-mutuel facilities. The tribe had paid a $350 million annual fee to the state from casino revenue. But this fee stopped in 2019 due to a disagreement over exclusivity to table game wagering, which is partially offered by horse racetracks and jai-alai frontons.
To add to the equation is the reluctance of the Governor to expand gambling in the state. But with a $350 million sized hole to fill in a strained economic climate, the need to come up with a deal that pleases all entities has taken on greater significance. Â
Until a breakthrough is made, sports gambling in Florida is off the table, likewise, any partner deals with a sportsbook. But as we’re seeing with legislators in California, also looking to fill a state budget deficit of their own, the expansion of sports betting could be accelerated in many states.
