The NBA made history on Tuesday, becoming the first major professional sports league in the United States to sign a deal revolving around sponsorship for sports betting. Adam Silver held a press conference in New York announcing that his league had agreed to the multi-year deal with MGM Resorts International.
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MGM will be able to use "NBA and WNBA data and branding" in its sportsbook offerings, according to the NBA.
According to a report from ESPN's Darren Rovell, the deal is thought to be worth $25M over three years. Via ESPN:
On Tuesday, commissioner Adam Silver announced that the league struck a deal with MGM that will give the gaming company rights to use league highlights, names, logos and its direct data feed, as well as exclusively market itself as the official gaming partner of the NBA and WNBA.
Industry sources pegged the deal to be for three years and at least $25 million.
The most notable thing here -- aside from the fact that the deal is happening in the first place -- is that MGM will have access to direct data from the NBA and WNBA. Additionally, MGM will be allowed to use NBA logos and highlights in their sports betting products, including its app. It doesn't appear that the deal should do much to affect the day-to-day activities of bettors.
This partnership comes on the heels of the historic Supreme Court decision in May which could pave the way towards sports betting being legalized in dozens of states across the country. Currently, sports betting is only legal in Nevada, New Jersey and Delaware. Five states, however, including Mississippi, New York, Pennsylvania, Rhode Island and West Virginia have recently passed bills that should soon legalize it.
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