In a landmark decision, NFL team owners have given the green light for NFL stadium sportsbooks to accept bets on game days, starting with the 2023 season commencing in September. This significant change will impact 17 franchises situated in states with regulated sports betting.
The Game-Changing Decision:
NFL team owners have voted in favor of allowing NFL stadium sportsbooks to facilitate betting activities during game days.
The implementation of this change is set to commence with the 2023 NFL season, ushering in an exciting era for sports betting enthusiasts.
Impact on 17 Franchises:
This groundbreaking shift will directly affect 17 NFL franchises located in states where sports betting is regulated.
It opens up new avenues for fans to engage with sports betting in a physical stadium setting.
Current State of In-Stadium Betting:
Currently, fans have the option to place bets on their mobile devices while in stadiums on game days.
However, physical sportsbooks within the stadiums have been a rarity until now.
The Washington Commanders in Maryland are currently the sole NFL franchise with an operational physical sportsbook on stadium premises, managed by Fanatics Sportsbook.
The Arizona Cardinals, New York Giants, and New York Jets have sportsbooks positioned just outside their stadium gates.
Revenue Sharing Mechanism:
Revenue generated from in-stadium sports betting will not be distributed to other NFL teams until it surpasses a specified threshold, estimated to be around $20 million.
Once this threshold is achieved, the revenue will be shared among the league’s remaining 31 teams.
NFL’s Sportsbook Partnerships:
The NFL made its initial foray into sportsbook partnerships in April 2021, signaling the league’s increasing involvement in the sports betting landscape.
The NFL’s decision to permit NFL stadium sportsbooks to accept bets on game days beginning in 2023 represents a significant development in the world of sports betting. With 17 franchises set to benefit from this change, fans will have the opportunity to engage with sports betting in a more immersive and exciting manner. The revenue-sharing mechanism ensures that the entire league benefits from the growth of in-stadium sports betting. This decision reflects the NFL’s recognition of the evolving sports betting landscape and its commitment to providing fans with an enhanced game-day experience.