Gambling Sponsorship In Sports – The Oil Rig

Governments around the world are rapidly legalizing sports betting. The move is beneficial because it allows local and state governments to make money. Furthermore, it allows sports betting companies to make money, create jobs, and expand. Nevertheless, there are other entities that benefit greatly from the legalization of sports betting. Sports teams and athletes fit into this category. Any review of Stake will note the company’s reach because of sports sponsorships. Teams can use sponsorships to make more money and better support themselves and their organizations.

These sponsorships can be beneficial for everyone, including teams, athletes, and gambling companies.

Growing Sports Sponsorships

The sports industry has consistently grown annually. These companies don’t make a lot of money from ticket sales. Instead, the majority of their projects come from media rights and advertising. Sponsorships are also very fruitful. It is estimated that the sports sponsorship market was worth $63 billion in 2021. Experts in the industry with trustable information expect the value to top $109 billion by 2023. Sports betting companies can use this to find new customers. However, these companies expect the teams and players to be able to deliver a worthwhile return.

Sponsorship Opportunities

When it comes to athletes, the options for sponsorships are plentiful. Most people realize that athletes can appear in television commercials for gambling companies. However, companies involved in online gambling in Canada have found other ways to achieve this goal. GamblingInformation.com regularly tracks such information and provides tips for responsible gambling.

For starters, it’s common for athletes to wear company logos on their jerseys. A football player may have a BetMGM logo on the front or sleeve of their jersey. Alternatively, a soccer player may have a DraftKings logo on the back of their jersey. In some cases, the teams are benefiting from partnerships. For instance, the Arizona Cardinals have signed a deal with BetMGM. As a result, BetMGM’s logos can be found on State Farm Stadium.

Furthermore, the company handles the gambling experience in the team’s home stadium. Athletes can also use social media to advertise for gambling companies. For instance, they can make a Tweet supporting a specific company and get paid for it. Truthfully, the options are endless.

The Value

Ultimately, the value of gambling sponsorships can be immense. As mentioned above, the Arizona Cardinals signed a deal with BetMGM. Surprisingly, it has been reported that the deal is worth approximately $66 million. The Tennessee Titans signed a deal with BetMGM as well. That deal could be worth just as much. Gambling brands are spending big to partner with athletes and sports teams. Casinos are also investing in combat sports including boxing and MMA.

For instance, the UFC is signed with DraftKings. It is believed that the deal is worth $350 million. In certain sports, athletes can sign direct deals with these companies.

The Risks

The risks of using gambling sponsorships are slim. The primary concern is that viewers will begin to question the authenticity of the sport. To date, this has not happened. Viewers are willing to embrace the change. Another thing to point out is that viewers may not like gambling on moral grounds. They may feel that it is wrong for teams to sign gambling sponsorships.

Again, these issues have not been paramount yet. Instead, sports teams have continued signing hefty sponsorship deals with sportsbooks and betting companies. That trend is likely not going to change.

The Perks

At the end of the day, the perks of gambling sponsorships outweigh the cons. The partnerships are great for both parties, including the gambling companies and the sports team. For the gambling company, it ensures that its brand is visible. When someone watches a UFC fight, they’re going to see the DraftKings logo. In some situations, the company has the right to handle all sports betting activities inside the stadium. This is often the case when MLB and NFL teams. The combination can help the company reach more people and attract new customers.

For the sports industry, the benefits should be obvious. The team is able to generate more money. These teams make a lot of money from gambling sponsorships. In return, they can use this money to improve the experience for the audience. They can also improve safety for players and pay players more.