PointsBet Sportsbook is now the official betting partner of NBC Sports after the two companies agreed to a massive deal earlier this week. Rumors of this partnership started to pop up on Thursday morning, and it was made official later in the day.
PointsBet has made a huge splash in the United States market since launching last year in New Jersey, but this new deal will transform the company. The Australian-based company has made a lot of deals this month, but this one could become the most profitable for the company.
Complete financial details have yet to be announced, but it has been reported that PointsBet will pay $500 million for this multi-year agreement. PointsBet will become the sports betting partner for all of the NBC Sports Platforms, including The Golf Channel and the eight regional sports networks offered by the company.
NBC Sports will promote PointsBet and will refer sports betting customers to the site. NBC Sports has acquired a 4.9 percent stake in the company, and they will be compensated for the number of new customers that join the sports betting site.
According to industry sources, NBC Sports will have the opportunity to acquire up to 25 percent of PointsBet when the five-year deal expires. Even though PointsBet is only legal and live in a handful of states, this new deal will give them exposure throughout the United States.
NBC Sports will feature odds and betting lines from PointsBet on all of their sports broadcasts, and they will also discuss the top promotions being offered by the sports betting operator. NBC Sports is the home for the weekly Sunday Night Football game, and this deal will bring a ton of exposure during the upcoming NFL season.
PointsBet is based out of Australia, and it offers a unique twist to sports betting in the United States. Its “points betting” platform has been a huge hit with bettors in the US, and it has started to challenge some of the biggest names in the industry.
Not the First Deal of Its Kind
This deal between PointsBet and NBC Sports continues the trend of media companies partnering with sports betting operators. The sports betting industry continues to grow throughout the United States, and television companies are looking to capitalize.
Penn National Gaming and Barstool Sports were the first companies to start this trend, and that partnership is going extremely well. Penn National decided to invest in Barstool, and they will eventually have the opportunity to become the majority owner of the company.
Barstool Sports is a digital sports media company, and they take a unique perspective when discussing sports. Penn National is looking to build off of the popularity from Barstool and will be launching “Barstool Sportsbooks” throughout the country before the end of 2020.
William Hill, a British bookmaker, was also able to secure a deal with CBS earlier this year. William Hill will become the official sports betting partner, and they will receive plenty of exposure during the upcoming NFL season.