TLDR The NFL announced sportsbook deals with FanDuel and DraftKings on Thursday morning Fanatics became the NFL’s only official sportsbook partner last week, ahead of the other two deals Genius Sports stock has dropped from around $21 to about $7.60 since 2021 The NFL owns close to 8.7% of Genius Sports, making it the company’s largest shareholder DraftKings and FanDuel handle over 80% of US sports betting, giving them more power at the negotiating table
The NFL has completed sportsbook deals with FanDuel and DraftKings. The league announced the agreements on Thursday morning.
The deals come after weeks of talks between the league and the two largest sportsbooks in the country. Terms of the deals have not been made public.
Fanatics became the NFL’s only official sportsbook partner last week. That deal was announced before the FanDuel and DraftKings agreements.
Before this season, three sportsbooks held official NFL status. DraftKings, FanDuel and Caesars all had sponsorship deals that ran through last season.
Caesars chose not to renew its deal. The company had already cut back on national advertising spending in recent years.
Genius Sports Stake Ties NFL to Data Deals
To become an official NFL sportsbook, a company must also pay for data from Genius Sports. Genius Sports provides betting data and streaming services to sportsbooks.
The NFL owns close to 8.7% of Genius Sports. That makes the league the company’s largest shareholder.
Genius Sports stock trades around $7.60 as of this report. The stock traded between $21 and $22 when the NFL’s investment began in 2021.
The stock price has dropped more than 40% over the past year. The NFL’s stake has lost value along with it.
Eric Foote is founder and CEO of VIG Partners. He works on sponsorship deals between sportsbooks and leagues.
Foote