Several major sports leagues want sportsbooks to use official betting data. Using league-approved data will enable bookmakers to generate live betting odds more quickly and will extend the life of live odds.
Sportsbooks are partnering with the NFL, MLB and NHL to provide official betting data to fans. The NFL expects to generate $270 million in revenue this year through official betting.
The NBA and the NHL have signed official betting partnerships with MGM Resorts International, the largest sportsbook operator in the U.S., as well as DraftKings. The NHL has also signed a deal with the MLB, which allows it to use MLB data.
The NFL has integrated gambling content into its broadcasts and is building a “betting experience” into its stadiums. The NFL claims that official betting will threaten the “moral thread” of sports, but some fans disagree.
NASCAR has also built a unique official betting product. It allows sportsbooks to take bets on every lap of every race. The product is a data-powered solution that allows fans across regulated states to enjoy a highly engaging live experience.
The NCAA has also held a line against legal sports betting for decades. Several states have passed legalization bills, but most have not budged on the issue. Some states prohibit wagering on college players’ props, while others prohibit wagering on in-state college teams.
New York has a bill on the table that would legalize sports betting in the state. The bill is scheduled for a vote in November, and it is expected that the bill will be passed.