Despite not having launched in Colorado yet, PointsBet has already expressed its intention to experience substantial growth in the state.
The Australian sports betting company recently secured a multi-year agreement with Kroenke Sports & Entertainment, renowned as the owner of the Colorado Avalanche, Denver Nuggets, Colorado Mammoth, and the Pepsi Center.
As part of the agreement, PointsBet has announced its plan to relocate its US headquarters to Denver. The company has already initiated the construction of its new flagship headquarters in the LoDo neighborhood of downtown. Interestingly, the Pepsi Center happens to be conveniently close to the LoDo area.
The contract with NBCUniversal Media, which was disclosed on August 27th, has officially commenced and is now active.
PointsBet has become the official sports betting partner of NBC, with the latter also holding a stake in the company. This partnership signifies that NBC has allocated a substantial amount of money towards marketing expenses to aid in PointsBet’s growth.
If you’ve noticed the overwhelming number of sportsbooks advertisements since their market launch on May 1, you understand the significance of this event.
Having a player like NBC invested in the success of PointsBet is a huge advantage in the competitive market with DraftKings, FanDuel, and BetMGM. Legal Sports Report highlights that NBC’s commitment to spend $393 million on marketing across its properties, with an annual increase, is significant.
Furthermore, as stated in the news release, PointsBet will be granted year-round, multi-platform media and marketing opportunities throughout NBC’s unparalleled range of events.
PointsBet currently offers online sports betting exclusively in New Jersey, Indiana, and Iowa. However, with the NFL season about to commence within two weeks, it is highly anticipated that PointsBet will soon introduce its services in Colorado.
In late July 2019, PointsBet forged a partnership with Double Eagle Casino in Cripple Creek, marking one of the earliest collaboration announcements in the state.
Where can I watch PointsBet on NBC?
Perhaps a better way to phrase it would be: «Don’t you see PointsBet on NBC, where they won?»
According to the release, users in Colorado will find PointsBet in various sportsbooks.
- special game-day, multi-platform plugins across the eight NBC Sports regional networks. The MLB, NBA, and NHL team broadcast from those locations.
- The new partnership will lead to an expansion of the NBC Sports Predictor game, which is free to play. As a result, the game will now include four additional sports categories: athletics, golf, Premier League soccer, and NASCAR. Furthermore, the collaboration will result in an increase in both the available games and PointsBet content.
- They have a strong presence on the fantasy sports website RotoWorld, as well as on NBC.
- The golf channel will feature PointsBet odds, gladness, and branding.
- You have the option to stream PointsBet on NBC’s Peacock, Telemundo Deportes, and Temuno.
In the press release, Sam Swanell, the managing director and team Director of PointsBet, expressed.
PointsBet has a valuable partnership with NBC Sports, giving us access to a large audience of 60 million monthly active users and 184 million viewers. These resources, along with our own technology, products, and experienced team, will greatly contribute to our marketing strategy and help us efficiently acquire and retain clients as we continue to grow. NBCUniversal’s decision to take an equity interest in PointsBet demonstrates our shared strategies, trust between teams, and recognition of the immense potential in the US gambling market.
What does NBC receive?
As previously mentioned, NBC has become an invested partner in PointsBet. According to Legal Sports Report, the interest rate associated with this investment is 4.9%.
However, the main highlight of this agreement, as initially disclosed by Sportico, is that NBC will be entitled to receive payments for every bettor it refers to PointsBet who makes a deposit.
The prosperity of NBC is directly linked to the success of its investments, particularly PointsBet.
What does this agreement think for sports betting in Colorado?
On its own, the PointsBet partnership with NBC has limited impact in Colorado.
Once combined with the KSE agreement, the potential impact on the Colorado sports betting apps and market becomes evident. It is important to note that PointsBet has not yet launched in Colorado, but the company is actively seeking opportunities to reach out to potential customers.
It seems highly promising for the Avalanche and Nuggets’ potential. If and when spectators are allowed back into the arenas, a whopping twenty thousand people spent three hours each day at Pepsi Center, watching PointsBet.
Regardless of whether or not you decide to watch the game, you can still see essential PointsBet features for both the Avs and Nuggets on your TV.
It can be assumed that most of those fans have already downloaded the relevant group apps, leading to increased attention for PointsBet.
PointsBet has established agreements with both the Indiana Pacers and Detroit Tigers.
While the reward may not be immediately evident, the focus is on the long-term outcome.
Even in a new market like Colorado, the major players still hold a significant advantage.
Nevertheless, the sports betting handle in July indicates a market on the verge of significant financial gains.
PointsBet has expressed its desire to excel beyond just Colorado.
