By Weston Blasi
The NFL announced its first-ever U.S. sportsbook partnerships, making deals with Caesars Entertainment /zigman2/quotes/205281174/composite CZR +3.41% , DraftKings /zigman2/quotes/213120645/composite DKNG +0.51% and Flutter-owned /zigman2/quotes/206709455/delayed IE:FLTR -2.85% FanDuel on Thursday.
These multi-year agreements to become the official sports betting partners of the NFL could be worth around $1 billion over five years, according to Sports Business Journal.
As part of the deal, the sportsbooks will integrate their betting content into NFL media, such as the league’s website, app and the popular NFL Redzone show.
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“As the sports betting landscape has continued to evolve in the United States, we have been thoughtful with our strategy and are excited to announce three partners who share the NFL’s vision and goals,” Renie Anderson, Chief Revenue Officer and Executive Vice President of NFL Partnerships, said in a statement. “Working closely with Caesars, DraftKings and FanDuel, we will provide fans new and different ways of interacting and engaging with the sport they love.”
The NFL had a hesitancy toward the gambling industry for decades before slowly warming up the idea after the ban on sports wagering was lifted by the Supreme Court in 2018. New York recently legalized online sports betting , becoming by far the most populous state to do so.
The NFL was the last major American sports league to sign official sports betting deals.
In after-hours trading on Thursday, DraftKings stocks jumped 4.4% and Caesars Entertainment was down 0.05%. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.22% on Thursday closed above 34,000 after a 0.9% gain.