On Wednesday, the NBA announced a first for a professional sports league in America. The league is now the first professional sports league in America to sign betting data partnerships related to the US market. The first two betting NBA data partners are Sportradar and Genius Sports.
This deal is a nonexclusive, so in theory, there could be more NBA betting data distribution partners in the future. This comes just a few months after MGM Resorts and the NBA signed a nonexclusive deal for data (and marketing). Coincidentally, or not, Sportradar is already providing data to MGM Resorts.
The first of its kind deal will begin with NBA and WNBA data distribution this year. Partnering with reputable data distribution services to provide official data to licensed sportsbooks could be a major step for legal sportsbook operators to separate from illegal bookies.
Legal sportsbooks moving forward
Data distribution deals by the NBA and other leagues can potentially leave illegal bookies in the Dark Ages. One benefit of sports bettors gambling with illegal bookies is the ability to bet on credit. This won’t go away. But while offering better lines for pre-game wagering is beneficial, there’s a whole lot more to betting on sports today.
Legal sportsbooks receiving data the quickest will allow them to offer in-play betting and some player propositions that won’t be accessible to illegal sportsbooks. In-play wagering has anecdotally been about 20 percent of the sports betting market in Nevada. That number is multiplying in New Jersey.
During a sports betting conference this week, Niall Connell, of FanDuel Sportsbook in New Jersey, said around 40 percent of their handle (amount of money wagered) is coming from in-play wagering. Having access to the best data will continue to grow that revenue stream and help advance legal sports betting around the country.
US sports betting worldwide
Sports betting in the US may never be the same. New international companies are changing the game. Sportsbook operators in New Jersey are already offering different options for US sports bettors thanks to their European influences.
Irish sportsbook operator Paddy Power is the brains behind the FanDuel Sportsbook in New Jersey. Kambi, another European company, is already powering sportsbooks in multiple states outside of Nevada.
US sports betting data distribution will also use experience from European companies. Carsten Koerl, chief executive officer of Sportradar, says that with “sports betting being so new to the United States, we will look to utilize our vast global experience in the space to implement innovative feeds and products to give fans and partners an amazing experience.”
Sports betting is evolving
For better or worse, sports betting in the US is changing. Between data deals with professional sports leagues and sportsbook operators with a different point of view than Nevada casinos, there are a lot of changes happening to sports betting in the US right now.
There are new ways to bet on sports popping up nearly every week. Thanks to new companies, new data deals and new wagering options, there’s no end in sight to the evolution of legal sports betting.