The National Football League’s sponsorship revenue increased by a staggering 12% in the 2021-2022 season. According to a recent study by IEG, the total revenue increased from $1.62 billion to $1.8 billion in just one year. Because of this, there is no denying the vital role that sports betting operators play in the United States gaming industry.
The NFL set new records in 2021 by achieving a new sponsorship revenue all-time-high. The sponsorship agreements between sports betting companies and the NFL were a major success in 2021. The IEG is a multinational consultancy in effectiveness evaluation and collaboration strategies. And their most recent data shows the 2021 NFL sponsorship findings.
As per the report, 2021 was a historic year for the sports betting industry and NFL. According to the IEG, the NFL obtained $1.8 billion in total sponsorship revenue in 2021, a 12% rise from the previous year. There is no doubt that the recent partnerships with top bookmakers contributed to this increase. The data outlined that technology firms like Microsoft and Verizon contribute a combined total of $400 million per year alone. There are many huge deals with tech companies but there are also significant agreements between the NFL and iGaming companies too.
The sponsorships with casinos and gambling companies accounted for the second-highest total of NFL sponsorship revenue. It’s important to note that advertising revenue and sponsorship revenue are two different things. The sponsorship revenue symbolizes the entire amount of money that was generated from iGaming operators like FanDuel and DraftKings for purchasing the rights to work in collaboration with the National Football League. According to CNBC, the minimum cost to become a partner with the NFL is $10 million per year.
The main sports betting sponsors of the NFL are DraftKings, Caesars Sportsbook, and FanDuel. These three operators have all committed to directing $1 billion in revenue for the NFL over three years. This is over $110 million per sportsbook and around $333.3 million per year in total. Now that New York sports betting sites have been given the green light, this figure is likely to increase even more over the next twelve months. In return for this massive influx of revenue, DraftKings, Caesars, and FanDuel all have the right to use NFL logos and marketing material. There is also another sports betting firm – Genius Sports. They’re accountable for around $120 million per year in revenue for the NFL through sponsorship deals. The NFL and Genius Sports sealed a deal in 2021 that gives Genius Sports exclusive distribution rights. Since April, Genius Sports have rights to the NFL’s official live statistical stream.
In 2018, the Supreme Court overruled a 1992 federal law that placed a complete ban on commercial sports betting. This law was in virtually all states in the US. Since then, the doors are open for Americans to place bets online. The NFL has since become one of the most popular sports to bet on. The NFL used to keep itself a long distance from the betting industry. Nowadays, the NFL has managed to form great partnerships with betting sites and generate massive communities of followers. The NFL continues to find new ways of increasing interest among betting fans to this day. Recent gambling news reports that the NFL has released plans to allow advertisements from sports betting sites to be displayed during their broadcasts to the nation.
This is quite possibly an excellent chance to improve television ratings. Also, gain interest from a wide audience of sports fans. There’s an undeniable buzz surrounding the ever-evolving online sports betting industry, so the NFL is welcoming sports betting advertisements with little resistance. The NFL has officially granted permission to the three official sports betting partners to buy commercials. These official providers are FanDuel, DraftKings, and Caesars Sportsbook. In addition to the option to advertise on television, the NFL has allowed sports betting companies to sign sponsorship deals with stadiums and individual teams.
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