While we all hang out at home and ride the storm of the Corona Virus – we have some interesting sports betting news along with the recent CBA signed by the National Football League. The league moves on with plans, and most recently, the NFL voted to ratify a new collective bargaining agreement that will give the league labor peace all the way until 2030.
While playing an additional game was the talk of the new CBA and one that not everyone agreed on – the biggest news for us as a sports betting content business – NFL teams are now allowed to open and operate a sportsbook inside their stadium on game days. This is a big deal because the league has been opposed to the sports betting industry for as long as the league has been in existence. That has changed with the legalization around the country.
Before the new CBA – teams could partner with sports betting companies, but now – with the first preseason game slated for August of 2020 – sportsbooks can open up inside the stadiums. That is a massive game-changer, and certainly a money maker. It also offers more entertainment for those in attendance at the games.
Obviously, the National Football League is only going to allow this to happen inside the stadiums where legal sports betting is allowed. Each state has a different policy, and as many of you know – new states are added all the time. Most recently, Illinois was added to the list, which would allow the Chicago Bears to get it done. Currently, there would be nine teams that could participate with this:
Buffalo Bills, Chicago Bears, Detroit Lions, Indianapolis Colts, Las Vegas Raiders, New York Giants, New York Jets, Philadelphia Eagles, and Pittsburgh Steelers. Just like any other sportsbook in the state, these teams would have to work with their state governments to get this done.
The National Football League also announced they would be playing games in London against this season. Sportsbooks are allowed and legal at Wembley Stadium as well. The league expects more teams to be able to add a sportsbook to their stadium in the 2021 season, as more and more states are legalizing it.
Revenue Split Two Ways
In the new Collective Bargaining Agreement – players and owners are going to split the share of sports betting revenue at the sportsbooks. There were no exact details on how much each side will get. During the offseason, sportsbooks are allowed to remain open, but the money earned by players and owners would be a smaller amount. The National Football League is hoping with this move, more lawmakers will allow it to become legal in their state to get a sportsbook in their stadium.