PointsBet, an Australian sports betting Goliath, becomes the first sportsbook operator to sign a gambling partnership with a college in the USA. The University of Colorado has entered into a 5-year gambling, betting and fantasy sports deal with the brand.
The University of Colorado (UC) has paved a new road for college athletics in the USA after the Buffaloes signed a landmark cosponsorship deal with PointsBet. The University of Colorado Buffs officially becomes the first college athletic team in the country to ink a partnership with a sports betting brand. PointsBet, an Australian sportsbook operator penned a five-year arrangement with the Buffs to become a gambling, betting, and fantasy sports partner with the National Collegiate Atheltic Association (NCAA) Division 1 athletics team.
In a virtual press conference on Tuesday right after the momentous announcement, Rick George, the athletic director of the university disclosed that UC had worked hand in hand with the NCAA and its Pac-12 conference to make the deal possible. In the briefing, George also expressed his optimism on the success of the new arrangement by saying;
Quote“We're thrilled to have PointsBet as a partner and for the benefits this sponsorship will provide for our student-athletes for years to come, … We are impressed with their commitment to raising awareness around responsible gaming. And we're particularly excited whenever we can partner with sponsors who call Colorado home.”
This milestone marks another big win under PoinstBet’s belt after the Australian sports betting brand partnered with NBC Sports last week, being declared the official PGA Tour operator in August, and partnering with Kroenke Sports & Entertainment (KSE), the owner of a handful of major league sports teams in the Centennial State last month as well.
What Does this Ground-Breaking Deal Entail?
As part of the newly forged partnership, the PointsBet brand will now feature in UC’s football stadium and basketball arena and a presence on the school’s media such as radio broadcasts. The Australian betting company which is constructing its USA headquarters in Denver has also pledged to support UC’s athletic program that builds and prepares talented athletes for their post-college careers. However, as George confirmed, you won’t be seeing any betting kiosks in the school’s CU Event Center or the Folsom Field.
Additionally, this deal will possibly bring in the much-needed financial boost to the school’s athletic department which has taken a beating like other athletic departments across the country, with some colleges going as far as cutting back on their sports programs. PointsBet however did not reveal the financial details of the partnership with the University of Colorado. You may also be interested to know that this agreement was negotiated by Learfield IMG College, the holder of media rights of UC athletics.
Last month, UC’s athletic conference, the Pac-12 announced that it will be suspending all the sports events for the remainder of 2020, to resume next spring should the novel virus be better contained by then. Given that college football tournaments usually take place in fall, the cancellation of this year’s games means that college athletic departments around the country will be faced with a devastating financial deficit.
A New Twist for the Future of the US Sports Betting
Since the SCOTUS ruled against the federal ban on sports betting in the country in May 2018, US professional sports leagues fully embrace sports betting but the NCAA has been resisting the idea of being associated with gambling.
Currently, the NCAA doesn’t even allow gambling commercials to run during its competitions such as the March Madness. But then again, this prohibition on gambling ads isn’t applicable for regular-season matches, conference evens, or games organized by other bodies such as college football playoffs and bows.
From the look of things, however, the new PointsBet-Buffs deal will usher in a new era of relationships between college athletics and sports betting brands. It is however important to note that the partnership was possible owing to the flexible sports betting regulations in the Centennial State. While Colorado is a Power-5 school, the institution isn’t as big in the world of college sports as the likes of Kentucky’s, Duke’s, Notre Dame’s, and Alabama’s.
The future is going to be pretty interesting if sports betting brands such as FanDuel or DraftKings start targeting universities for sponsorships. One of the few roadblocks that may however impede this progression is that some of the most lucrative athletic programs in the USA are in states that aren’t close to breathing life into their sports betting bills to welcome a regulated sports betting market.
Looking for a fresh take on crash games? We explore engaging crash and tap games with entertaining themes inspired by pop culture and classic gaming.
Learn how crypto beginners can bet safely using stablecoins like USDT and USDC. Skip market volatility and explore 4 top-rated online casinos offering fast, reliable stablecoin deposits today.
Join us for a chat with Wiktoria Hanak of BF Games to understand how the provider decides which games to make and learn more about the mathematical model and bonus feature selection process.
Casinos
Games
Jackpots
