NBA has partnered with fantasy sports provider FanDuel since 2014. Now, after four years, NBA has decided to expand their partnership so that it could add U.S. sports betting among the options.
This agreement means that NBA will allow FanDuel to use the official game data of the professional league across several sports betting products. Although the financial terms of this deal were not revealed to the public, this agreement made FanDuel the authorized gaming partner and official sports betting provider of the NBA.
In fact, there have been several partnerships made between professional sports leagues in the U.S. with a number of sportsbook operators and casinos. However, this has not reached the National Football League yet. However, the casino industry has admitted to seeing around $150 billion of illegal sports bets placed every year. Thus, there are still many problems with the legality of the U.S. sports betting market.
For the NBA, a partnership with FanDuel in terms of sports betting was beneficial. Although opposed by those who thought that sports betting would only degrade the honor of sports, NBA could benefit from the partnership through increased popularity and ticket sales.
Since the 1992 ban on the legalization of sports betting was lifted by the U.S. Supreme Court, states were free to legalize, control, regulate and tax sports betting. In fact, New Jersey became the first to have it legalized. The previous month saw FanDuel partnering with the National Hockey League. In fact, in New Jersey alone, there was an overwhelming $928 million worth of sports wagers placed in the FanDuel sportsbooks in only a matter of six months.
While some sports critics have pointed out that such partnerships with sports betting sites would only erode the integrity of the sports profession, it would, after all, be another source of revenue for both state and federal governments.