Gambling is slowly making its way into the world of sports. The New York Jets, a National Football League (NFL) American football franchise, are on their way to signing up a gambling partner, although no names have been floated just now. The latest revelations are courtesy of the New York Post who have found out about the team’s future intentions to make a splash in a new segment.
Gaming Trumps Betting or So the Jets Think
The Jets have not been wasting daylight. The team has been reaching out to several casinos in a bid to strike a future partnership and make it possible for the organization to enter the segment. The upshot? The Jets are now considering to explore this opportunity in full. According to anonymous sources close to the matter who spoke for the New York Post, the Jets will sign a deal that will be worth anything between $750,000 to $1 million a year.
No official statements have come from the Jets who have kept the whole affair under tight wraps. The Jets are in a unique position to leverage their brand and benefit from the revitalizing market for betting and gaming products. Just last month, New Jersey inaugurated online sports betting. The Jets play at the MetLife Stadium in New Jersey, which gives them the opportunity to benefit from the latest developments in a meaningful and expedient manner.
DraftKings has already launched its regulated online and mobile sports betting platforms across the U.S. and FanDuel has just announced that it has sought the services of IGT to deliver impeccable betting experience to its own customers.
The industry is clearly gaining a momentum and nobody seems prepared to go back on the big promise of turning a hefty profit.
New Jersey – A Perfect Place for It
New Jersey led the PASPA offensive, which cost the state estimated $9 million in legal bills. Naturally, lawmakers are keen to get back what they have spent on fighting the federal ban. Presently, the state offers 14 venues that are authorized to conduct sports betting. Even though the NFL registered lower viewership numbers for a third consecutive year and a nine-year low, the event has been quite auspicious for the segment as a whole.
Meanwhile, Monmouth Park and Caesars Entertainment have received the go-ahead to start accepting online bets which will certainly facilitate how they conduct business by a great deal. More casinos are on their way to make sure that they can take their operations online, which will provide them with a valuable foothold in the market. Reportedly, The Hard Rock Hotel & Casino and Tropicana Atlantic City are also making a strong push.
Of course, there is always the question whether NFL franchises can accept gambling-related partnerships. The plain fact is that they can as per the latest updates that the NFL Business Venture Committee carried out in order to accommodate the practice.
Once they have hammered out the details, the Jets will be entering a brave new partnership with an entity, which is likely to be part of the ongoing revolution. This is an important diversification of their assets, particularly at a point when NFL viewership seems to be petering out.