- Genius Sports Group has become the official NFL data supplier for all sportsbooks and media outlets worldwide.
- The sports betting supplier struck a multi-year deal with the NFL for exclusive rights to all of the data within the franchise for a price tag that could be as high as $1 billion.
NEW YORK – On Thursday, it was announced that the NFL and Genius Sports Group (GSG) entered into a multi-year contract that would make Genius Sports the official data supplier for the National Football League. After a long bidding war between multiple suppliers, GSG won out in what is reported to be a $100 million a year agreement deal to be paid to the NFL for the exclusive rights to official league data.
Details Of The Partnership
It’s being said that the contract is already set in stone for the next four years.
While $100 million annually is an exorbitant amount of money for a data supplier to hand over and still profit, insiders say that the payments will be made with both equity and cash. In the end, it’s expected that the NFL will rake in $1 billion through the course of the agreement.
NFL sports betting is a huge business for sportsbooks. In fact, wagering on football is the biggest sport to see action each year. GSG and the NFL would like to create a platform for strictly NFL wagers that includes data and statistics for the game as well as promotion for fans to become more engaged in gambling on the matchups in the future.
Genius Sports, having the exclusive rights to the NFL’s official data will supply all of this information including play-by-play stats to various media outlets and sportsbooks around the globe. Every retail and mobile sportsbook in the U.S. and the world will be receiving their NFL data through GSG, making that price tag doable for the company because that is a lot of ground to cover, all of which will bring in profits to them.
“Genius is proud and delighted to partner exclusively with the NFL to establish a new era of digital fan engagement for professional sports leagues everywhere,” said Mark Locke, CEO of Genius Sports. “Our technology leads the world in the convergence of official data, betting, streaming, and digital media and we are excited to bring our unique capabilities to the world’s preeminent sports league.”
Consumer protection and the integrity of the sport will remain intact with Genius Sports at the helm. The company has a number of ways to monitor sports betting activity throughout the regulated sports wagering market of the U.S. to keep with the standard of greatness that the NFL wishes to maintain when playing in a world with sports betting.
The agreement also puts GSG in charge of sports gaming ads for the NFL, as they fully understand the way the franchise wants to be represented to the public.
“We’re excited to welcome Genius Sports to the NFL family,” said Kevin LaForce, Senior Vice President, Media Strategy and Business Development for the NFL. “We look forward to working with Genius as we continue to innovate and enhance NFL content on media and betting platforms.”
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News tags: Genius Sports | Kevin LaForce | Mark Locke | NFL
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.