NHL takes part in PointsBet partnership.
The popularity of sports betting in North America has skyrocketed recently, leading to more major sports clubs and leagues partnering with reliable betting providers. Recently, the National Hockey League (NHL) announced a multi-year partnership with Australian bookmaker PointsBet, even investing in the company. Let's take a look at the details of this agreement.
NHL Acquires Stake in PointsBet
The NHL has acquired a stake in PointsBet, an up-and-coming Australian bookmaker, and announced a long-term partnership. PointsBet will act as the league's official betting partner across both the US and Australia. This entitles the bookmaker to use the NHL's brands and logos in various sponsoring and advertising campaigns. The betting platform will also appear on the NHL's digital channels and social media. Furthermore, PointsBet can broadcast live NHL media partner broadcasts on its platform, such as those from NBC Sports and Altitude TV. NHL's Vice President, Keith Wachtel, mentioned that collaborations with NBC Sports have already begun for the ongoing 2020/21 season.
To show appreciation, PointsBet has agreed to provide 43,106 fully paid-up ordinary shares worth $500,000 to the NHL, based on the 20-day average price of their shares. These shares will remain locked for now, with 13,369 shares transferred after 12, 24, and 36 months.
The NHL, founded in 1917, is the most popular ice hockey league in Canada and one of the biggest 'Big 4' sports leagues in the United States alongside the NFL, MLB, and NBA. Its 31 teams have 7 in Canada and 24 in the US. The NHL has connections to the AHL (American Hockey League), with many players from NHL teams playing there to gain experience before joining the NHL. In October 2020, the NHL signed up for the AGA's betting code.
The Increasing Importance of Sports Betting Partnerships
Keith Wachtel, NHL Vice President, expressed excitement about the partnership with PointsBet, which is currently one of the fastest-growing providers of online sports betting in the US due to the lifting of the sports betting ban (PASPA) in May 2018. This deal also strengthens the league's collaboration with its media partners.
Johnny Aitken, Managing Director of PointsBet USA, shared his views: "The NHL offers high excitement and captivating action for sports and betting enthusiasts. It's an honor to partner with the NHL's progressive team and provide them with a top-notch betting product. Fans can expect greater integration with the sport going forward."
PointsBet has been quite active in the US market, securing several sponsorship deals. In January, the bookmaker became a partner of the Detroit Red Wings NHL team. After partnering with the NBA's Detroit Pistons in February 2020, PointsBet became the official betting partner of the team last month and received a license to offer online sports betting in Michigan. They also recruited NBA icon Shaquille O'Neal as their brand ambassador.
Rapid Growth for PointsBet
In January, PointsBet released their financial results for the first half of the 2020/21 financial year, showing impressive revenue and earnings growth. However, the company incurred a net loss of around $49 million – down 51.1% compared to the previous year.
Despite the loss, PointsBet can still celebrate significant achievements: their revenue for the first half of 2020 reached a massive $1.45 billion, hitting a growth rate of 254.5% compared to the previous year. This amounted to gross revenue of $153.8 million, which is a 460% improvement on the previous year. Customer numbers jumped from 45,828 to 81,014 in Australia alone.
NHL Benefiting from the Sports Betting Boom
Sports betting is now more popular than ever in the US. In August 2020, during the resumption of top-level sport, Americans placed $2.1 billion in bets, marking the largest monthly betting volume in US history. Revenues also rose more than 90% compared to the previous year.
Since the beginning of sports betting in May 2018, the NHL has signed several betting partnerships to take advantage of the booming industry. Apart from the latest deal with PointsBet, agreements have been made with Rivers Casinos in Pittsburgh and IMG Arena.
There you have it - the latest developments between PointsBet and the NHL!
The statistics from the American Gaming Association (AGA) indicate that the National Hockey League (NHL) earns around 216 million US dollars annually from legal sports betting. According to the study, the popularity of NHL betting is skyrocketing. In 2020, 27% of bettors revealed they had placed wagers on NHL games. In addition, 50% of the 18 regulated US states have at least one NHL team, with an additional six states gearing up for legalization.
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Source: www.onlinecasinosdeutschland.com
