Since the historic Supreme Court ruling against PASPA in 2018, a growing number of sportsbooks have teamed up with major sports league. But what does it mean for our favourite sports and should there be a reason for concern?
Having constantly run into brick walls with the legislation since 1992, the major leagues have finally found some wiggle room. While the NBA and the NHL were the first to form strategic non-exclusive partnerships with the sportsbook division of MGM Casinos, the others soon followed suit.
List of Premium Teams that Partnered with Major Sportsbooks
Starting with the NFL’s New York Jets, who signed a sponsorship deal with 888 Casino. The list includes the NHL’s New Jersey Devils and the NBA’s Philadelphia 76ers teaming up with Caesars Entertainment for mutual promotions. The Jets signed a second deal soon after with MGM Resorts International, which signed up as their official partner. The last name on our list is the NFL’s Las Vegas Raiders, who signed a 15-year contract with Caesars Entertainment, giving the latter founding status in the cutting-edge home stadium that was unveiled earlier in 2020.
Why the Sudden Interest in Partnership Programs?
As the saying goes, “if you can’t beat them, join them”. And casinos and sporting leagues seem to take it quite literally. The interaction between major leagues and sportsbooks was limited prior to the decriminalization of sports betting, courtesy of PASPA. The only real deals were limited to Nevada.
Therefore, the leagues were obligated to pretend that statistical terms like over/unders, point spreads, and the likes were dirty words not meant to be uttered. However, all the while a major portion of viewers had some form of interaction with sportsbooks around the country every time a game was on!
Progressive legalization of the sports not only helped regulate the extent of illegal gambling activities in the states but also filled the coffers with tax. A win-win situation for all parties involved. With PASPA no longer enforced, the major leagues can now form legal partnerships with sportsbooks, while the government gets a clear picture of the game and generate decent revenue from the same!
The Future of the US Gambling Industry
Some of these partnerships have changed how fans perceive gambling while encouraging amateurs to try their hands at a new sport. The move further boosted sports betting revenue while urging the society to change its stance on gambling. The sportsbooks have also jumped on the bandwagon, using the major leagues to promote their brands and clear the air around their services.
Over the years, some of the major casino chains to have partnered with premium teams across all major leagues include Golden Nugget, MGM Resorts, Live! Hotel & Casino, Harrah’s Philadelphia, Valley Forge Casino Resort, Presque Isle Downs, Wind Creek Casino, Hollywood Casino at Penn National, Rivers Casino and Rivers Casino Philadelphia, Parx Casino, and Mohegan Sun Pocono to name a few. For the complete list of the best bookmakers in NJ, visit NJPunter.