Sports betting is a vital and growing piece of US sports media.
A few years ago, broadcasters and publishers started taking ad dollars from gambling operators and dabbling in betting content, as the US regulatory tide turned in favor of the industry that had long been viewed as a vice.
The ties between media outlets and gambling operators have only deepened since.
How media companies are working with gambling operators
In 2021, DraftKings bought sports-gambling network VSIN, appointed its first chief media officer, and continued working with the sector to help with customer acquisition and retention.
Read more on DraftKings M&A strategy in an interview with its chief business officer.
Storied publishers like Sports Illustrated licensed their brands to sportsbooks.
Sites like The Action Network also became targets of affiliate conglomerates like Bettor Collective as referral engines for sports-betting platforms.
Read more about why sports-betting affiliate sites are hot acquisition targets.
Over the past two years, brands Barstool Sports and Score Media and Gaming also sold to casino company Penn National Gaming, and became marketing vehicles for its sportsbooks in the US and Canada, respectively.
Media and sports betting need each other. Broadcasters and publishers need to keep audiences engaged, and are allured by the added revenue from advertising, referral, and brand-licensing fees. Gambling operators, meanwhile, need help drawing in new customers and improving retention, while lowering the costs of doing so.
In 2022, the lines between sports media and gambling will continue to blur.
Leagues like the NFL have embraced betting as a facet of the fan experience, and are enabling more ads to air in game broadcasts, more types of wagers to be placed, and alternate streamers that are made for gamblers. Broadcasters including Disney have said they plan to push further into sports betting. FanDuel is relaunching horse racing TV subsidiary TVG as its own sports-betting network, FanDuel TV. And startups such as PickUp and Data Skrive are working with publishers to help engage sports fans with their content.
But some media companies, like FuboTV, have also learned the hard way that sports betting is an expensive game to play in. The pay-TV operator is now looking for a partner to realize its vision of bringing betting onto your TV screen during games.
Read more about how FuboTV is rethinking its sports betting strategy after August layoffs.
On top of that, the US sports gambling industry is still in its infancy. Online sports gambling is not yet legal nationwide, including in the populous states of Florida, Texas, and California. But the once booming space has seen its momentum slow in recent weeks as legislators in New York and Kansas take a harder look at gambling and consumer protections, according to a report by the New York Times.
There's strong momentum though. New York turned on mobile sports betting in January, which could be a boon for the media industry even though the market could be tricky for gambling companies.
Read more about how the New York market could impact the industry.
A list of our recent coverage of the US sports betting industry follows.
Insights from leading industry execs
- 9 ways the US sports-betting industry could change in 2022, according to experts in the space
- WATCH: Leaders from Fanatics, Eilers & Krejcik Gaming, and Slane Advisory discuss the future of the US sports betting industry
- DraftKings' business chief explains its M&A strategy as it seeks to be the 'Amazon of sports and entertainment'
- How Bleacher Report is navigating its relationships with sports-betting giants like FanDuel and DraftKings, as deal talks heat up between media and gambling
- PointsBet's CEO explains his sportsbook's plan to compete with larger rivals like DraftKings and FanDuel and what he's eyeing in M&A
- 'You do not have to love sports': FanDuel's chief people officer explains what she looks for in job candidates
- The 4 women running FanDuel share how they're shaping the company's culture and their strategies to dominate in the male-led sports betting industry
- How FuboTV plans to use sports betting to grow its pay-TV business, according to its CEO
- Sports-betting power players: Meet the 27 top executives pushing the US gambling industry forward in 2021
- FuboTV has laid off staff in the US as it takes a 'conservative approach to growth.' Read the full memo its CEO sent to employees.
- FuboTV is rethinking its sports betting business as its loss widens, and shares are surging on the shift
The startup scene
- Sports betting's rise in the US has created a startup boom. Explore our database of 55 companies innovating in the industry, from microbetting to fantasy platforms.
- 10 sports-betting and online-gambling startups that have raised the most money in 2022
- Top sports-betting and online-gambling companies by total VC money raised
- Sports-betting entrepreneurs who have raised money in 2022 share their advice for other startups looking for investment amid the downturn
- How the once-frothy scene for sports-betting startups is being shaken by the choppy economy
- Read the 4-slide pitch deck a founder who pivoted his startup to sports betting made to raise $3.6 million
- A new sports-betting VC fund has invested in 11 startups including Players' Lounge, VicTree, and VerdictMMA. Here's its full portfolio.
- VCs break down 4 startup trends that could shake up the US sports-betting industry
- 10 sports-betting startups that top investors say are poised to take off as sportsbooks fight for market share
- Read the 11-page pitch deck a sports-betting startup that has raised $100 million used to get the NFL Players Association to invest
M&A trends
- The top US sports-betting targets and buyers to watch in 2022, as Fanatics enters the fray and challenger brands take on DraftKings and FanDuel
- The top media targets and buyers in 2022, as speculation swirls around ViacomCBS and private equity bets big on Hollywood
- How the US sports betting landscape could change as competition and consolidation heat up heading into the NFL season
- Why M&A deals for US sports-betting affiliates are heating up, according to industry insiders
- 12 M&A deals that could shape US sports betting in 2020, including a string of potential DraftKings targets and rivals eyeing media and tech
- M&A is coming for sports betting as market leaders face pressure and Big Tech circles
- 4 sports-betting buyers that could make big moves in California, according to a new report that says the market could 'catalyze M&A'
- 3 key takeaways for the future of online sports betting after California voted against it
Company news and strategies
- New York's launch of mobile sports betting could supercharge the industry, but one expert warns it might be 'fool's gold' for operators
- Fanatics' new betting and gaming division is recruiting chiefs of marketing, tech, and legal as it looks to make a splash in the sector
- Merch giant Fanatics is staffing up in sports betting, snagging key execs and recruiting for new roles
- Sports Illustrated's new betting platform wants to show it can compete in the crowded US market dominated by FanDuel and DraftKings. Here's its strategy.
- A top PointsBet exec tasked with expanding the sports-gambling operator's presence in the US has quietly exited his role to join a startup
- FuboTV's move to combine pay TV and sports betting has sparked a heated debate on Wall Street. Here's what company insiders, bulls, and bears think the future holds.
- DraftKings is facing fresh pressure from rival FanDuel heading into football season
- Sports betting salaries: Pay data reveal how much DraftKings, FanDuel, and other companies pay for tech and more jobs
- Fanatics salaries revealed: How much the merch giant offers for tech and other jobs, as it expands into sports collectibles, betting, and more
- 3 ways Iger's return as Disney CEO could shape its sports strategy, from 'deep cost-cutting at ESPN' to 'quick wins' in sports betting
