Division 1 College Athletics Program Announces Partnership With Online SportsbookUniversity of Colorado Announces 5-Year Partnership With PointsBet |
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A major collegiate athletic program has announced a partnership with a sports betting company.
The University of Colorado, a member of the Pac-12 conference, secured a partnership with PointsBet, an online sportsbook that is setting up its North American headquarters in Denver.
According to a Fox Business report, the university and the sportsbook agreed to a five-year corporate sponsorship. It creates one of the first-ever partnerships between a sports betting company and a Division-I athletic program.
The deal will officially run through Colorado’s multimedia partner, IMG Learfield College and does not allow either athletes or coaches of any program are permitted to bet on sports. It does allow PointsBet to have featured signage inside the school’s football stadium and basketball arena. It will also be featured on broadcasts of the school’s sporting events.
In exchange for the advertising, the company will give the athletic department financial support, as well as anti-gambling education.
“I think it’s going to expand moving forward, and I think the educational piece is going to be a critical part of that,” said Rick George, the school’s athletic director, in a virtual press conference. “Having a partnership with somebody like PointsBet allows us, and having a partnership with our gaming industry in our state, will help keep the integrity of our competition and our sport.”
Gambling companies have been securing partnerships with sports franchises since the Supreme Court overturned PASPA in 2018, which allowed for state-by-state legalization of sports betting.
In June, PointsBet signed a partnership with the Denver Broncos, but deals were being made as early as last year as MGM became the official casino partner of the MLB’s Boston Red Sox and the NFL’s New York Jets.
Colorado passed sports betting legislation last November and the government allowed sportsbooks to roll out their platforms May 1.
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