Official betting is the use of official league data to generate live betting odds. This data will be made available to sportsbooks through league partners. Official league data has an advantage over commercial data feeds, in that it will provide more accurate information faster and provide a longer shelf life for live odds. While the NFL is not the only sports league wishing to legalize betting, it believes the concept will benefit consumers and the industry as a whole. Three NFL commissioners, along with the head of the country’s largest sportsbook operator, recently appeared before the media to promote the legislation.
The NFL is the latest major American sports league to sign an official betting deal. Last April, the league announced that it would be working with three sportsbooks to offer online sports betting. The partners will receive official league data in exchange for advertising and tying their brands to stats. NFL officials estimate the partnership will generate almost $1 billion in revenue over five years if the two parties stick together. The NFL will have the option to terminate the partnership at the end of the three-year contract if they don’t get a return on their investment.
In addition to this, the PGA Tour will also be working with betPARX to provide branded fan experiences during the Memorial Tournament. The new partnership will elevate the fan experience and improve the fan experience. The company first entered the golf market with the Memorial Tournament and has leveraged its power into becoming the official betting partner of the entire PGA Tour. They will be able to access intellectual property and marks of the PGA Tour and its members. Furthermore, the deal also involves video highlights.