CNBC Television published this video item, entitled “This NFL season will be an interesting case study: NBC’s Mike Tirico” – below is their description.
Mike Tirico, NBC Football Night in America host, joins ‘Power Lunch’ to discuss the start of the NFL season, the rise in sports gambling and how teams will balance Covid concerns and the schedule. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
More Americans than ever will wager on NFL games during the 2021 season as states continue to adopt legal sports betting and operators like Caesars Entertainment, DraftKings, and MGM Resorts make further investments.
An estimated 45.2 million Americans plan to wager on the NFL season in some form, up 36% from last year, according to research from the American Gaming Association. At least $12 billion will be bet on the NFL this season, according to sports betting market tracker PlayUSA.
That uptick comes as legal sports betting continues to spread across the U.S following the 2018 Supreme Court decision that struck down a federal law that forbade states from authorizing legalized betting on college and professional sports.
Twenty-six states and Washington, D.C., now allow legal sports wagers, compared to 18 states and Washington, D.C., at the start of last season.
In addition, several states, including Arizona, Connecticut, Florida, Louisiana, and New York, have also approved legislation in some form but have yet to allow betting platforms to launch — potentially teeing up wagering being offered by the time the season concludes with the Super Bowl in February.
Embracing sports betting
The NFL, once so staunchly against legalized sports betting that it joined other U.S. leagues in suing New Jersey to stop legalization in 2012 with Commissioner Roger Goodell raising integrity concerns, has slowly reversed course since the Supreme Court decision.
While the NFL became the last of the four major U.S. professional sports leagues to sign partnerships with sports betting operators in April, it now has seven: Caesars Entertainment, DraftKings, FanDuel, Fox Bet, MGM, PointsBet, and WynnBet. Those partnerships allow those operators to purchase NFL advertising and media inventory, as well as use NFL logos for retail and online sports betting.
The NFL is now allowing sports betting commercials to air during game broadcasts, although it will limit broadcasters to showing six sports betting commercials per game. Stadiums in states with legal sports betting can also have betting lounges; however, only online betting is permitted as no in-person wagers are allowed.
“I think it’s great for our fans, and it’ll be great for the NFL ultimately and our partners, because what it will do is create more engagement,” Goodell said about sports betting in an appearance on CNBC on Thursday. “It will be somewhat like what fantasy football was for us in the ’90s and has been over the last several decades, but this will be an even more immersive experience.”
That has led to a financial boon for the league. The NFL expects to generate roughly $270 million in revenue from sports betting and gambling deals and is projecting the category to be worth more than $1 billion within the decade, according to the Washington Post.
Teams are benefitting as well. The New Orleans Saints signed a 20-year, $138 million naming rights deal with Caesars to rename the Superdome, while teams from the Arizona Cardinals to the New York Jets have signed deals with companies like BetMGM and Fubo, respectively, for stadium betting lounges.
“We’re already seeing an increase in revenue in legalized sports betting categories, but that’s not our main focus,” Goodell said on CNBC. “Our main focus here is to be able to create that engagement, build a broader fanbase, and be able to reach those fans directly.”
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