- International Gaming Technology (IGT) has announced a partnership with the NBA.
- The partnership will bring official NBA data, marks and logos to IGT powered sportsbooks.
- Professional sports have turned to sports betting for revenue as COVID-19 threatens more traditional models.
International Game Technology (IGT) has announced a multi-year sports betting partnership with the National Basketball Association (NBA). The agreement will allow IGT powered sportsbooks access to an assortment of NBA intellectual property including official data, team and league logos.
The NBA was one of the first major sports leagues to relax their stance against betting several years before the overturn of PASPA. The change in position under the tenure of current commissioner Adam Silver was in marked contrast to longtime commissioner David Stern who took a strong ‘anti gambling stance’.
Since the overturn of PASPA and growth of the US sports betting industry leagues at every level are now looking for revenue streams. After more adversarial strategies such as ‘integrity fees’ proved to be a non-starter they’ve taken a more collaborative approach with companies in the sports betting ecosystem. This desire to find win/win situations–and new revenue streams–has only become more important during the COVID-19 pandemic. With many traditional sports league revenue streams no longer viable in the short term sports betting provides a much needed boost to the bottom line. In particular, leagues have been scrambling to replace revenues associated with live attendance which has dropped substantially during the coronavirus pandemic.
Enrico Drago, IGT PlayDigital Senior Vice President, is happy to offer customers this differentiated advantage to their PlaySports wagering platform:
“Partnering with the NBA to bring official league data to our PlaySports customers further validates IGT’s seriousness about delivering an unrivaled sports betting solution for the U.S. market and supports the ‘all-in-one’ proposition that we offer. With the rise in popularity of in-play, prop and parlay bets, having access to official, real-time NBA data feeds and league marks and logos positions IGT to collaborate with our PlaySports customers in creating highly compelling betting menus for sports fans across the country.”
Scott Kaufman-Ross, NBA Senior Vice President, Head of Fantasy & Gaming, emphasized the ability of IGT powered sportsbooks to offer a richer wagering experience with league intellectual property:
“This partnership with IGT marks the first time a platform provider can offer an ‘out of the box’ authentic NBA sports betting solution to a diverse set of operators across the U.S. This agreement will allow regional operators across the country to have direct access to NBA assets to create the best NBA gaming experience and further engage our fans.”
The deal continues the interesting trend of sports leagues and live broadcasts more closely embracing sports betting on a macro and micro level. Look for this trend to continue as the popularity of betting in the United States continues to grow and professional sports more deeply understands the revenue potential it offers.
