PointsBet has yet to launch in Colorado, and already, it wants to become a major player.
First was the multi-year agreement the Australian sports betting company reached with Kroenke Sports & Entertainment. KSE is otherwise known as the owner of the Colorado Avalanche, Denver Nuggets, Colorado Mammoth and the Pepsi Center.
Included in that deal is the news that PointsBet will move its US headquarters to Denver. It recently began construction on a new flagship headquarters in the LoDo area of downtown. Coincidentally, LoDo isn’t far from the Pepsi Center.
Now comes the multi-year agreement with NBCUniversal Media that was announced on Aug. 27.
PointsBet is now the “official sports betting partner” of NBC, and NBC is now an investor in the company. That means NBC has earmarked hundreds of millions of dollars in advertising spend to help PointsBet grow.
If you’ve seen the bombardment of sportsbooks commercials since the market launched on May 1, you then know why that’s a big deal.
To compete with the likes of DraftKings, FanDuel and BetMGM, having a player like NBC invested in the success of PointsBet is massive. As Legal Sports Report points out, there will be $393 million of committed marketing spend across NBC properties, increasing each year of the deal.
On top of that, per the news release, PointsBet receives “year-round, multi-platform media and marketing opportunities across (NBC’s) unmatched portfolio of events.”
PointsBet has online sports betting in just New Jersey, Indiana and Iowa. With the Denver Broncos and NFL season’s start less than two weeks away, look for PointsBet to launch in CO any day now.
PointsBet reached an agreement with Double Eagle Casino in Cripple Creek in late July 2019. That was one of the first partnership announcements in the state.
Where you will see PointsBet on NBC
Perhaps the better way to phrase it is, where won’t you see PointsBet on NBC?
Here’s a taste of where the Colorado sportsbooks users will find PointsBet, according to the release:
- Exclusive multi-platform, game-day integrations across the eight NBC Sports regional networks. Those are the broadcast homes to MLB, NBA and NHL teams.
- Integrated with the free-to-play NBC Sports Predictor app. The app is currently home to four sports (football, golf, Premier League soccer and NASCAR). The new partnership will expand the games offered and PointsBet content.
- Presence on RotoWorld, NBC’s digital platform for fantasy sports.
- The Golf Channel will feature PointsBet odds, content and branding.
- You’ll also see PointsBet on NBC streaming service Peacock, Telemundo Deportes and Telemundo.
PointsBet Managing Director and Group CEO Sam Swanell said in the release:
“Through the NBC Sports partnership, PointsBet gains access to market-leading linear assets, which span 184 million viewers and digital assets which span 60 million monthly active users. These assets will act as the cornerstone of our marketing strategy and combined with our in-house technology and products, as well as our talented and experienced team, will deliver outstanding client acquisition and retention efficiency as we scale rapidly over the next five years. NBCUniversal’s decision to take an equity stake in PointsBet illustrates the alignment of our strategies, the trust across teams, and our shared belief that the US gaming market is a once-in-a-lifetime opportunity.”
What does NBC get?
As noted earlier, NBC is now an invested partner in PointsBet. Legal Sports Report puts that at 4.9% interest.
But the bigger aspect of this deal, as first reported by Sportico, is that NBC will receive payments for any depositing bettor that it sends to PointsBet.
NBC is invested on multiple fronts. The more successful PointsBet is, the more successful NBC is.
What does this deal mean for Colorado sports betting?
By itself, the PointsBet deal with NBC doesn’t do much to move the needle in Colorado.
When you pair it with the KSE agreement, that’s where it could impact the Colorado sports betting apps and market. Remember, PointsBet hasn’t launched in Colorado yet; however, it’s finding ways to get in front of potential customers.
The future for the Avalanche and Nuggets looks incredibly bright. When and if fans are allowed back into arenas, that’s 20,000 fans a night who will see PointsBet over the course of three hours at Pepsi Center.
Even if you don’t attend the games, you’ll see prominent PointsBet displays for both the Avs and Nuggets on your TV.
It’s a safe bet that most of those fans will also have downloaded the respective team apps. That means even more eyes on PointsBet.
PointsBet has similar deals with the Detroit Tigers and Indiana Pacers.
The reward may not surface immediately, but this is about the long term.
Even in a new market like Colorado’s, the big players have a leg up.
However, the July sports betting handle shows a market on the cusp of mile-high rewards.
PointsBet has made it clear it doesn’t just want to compete in Colorado but become a major player.
