NHL With Potential To Make $200 Million From Betting DollarsPublished October 7, 2018 by Sol FH
According to the American Gaming Association, the NHL could reap the rewards from online betting to the tune of $200 Million.
The NHL has been a hurdle for online wagering. In fact, until now, the NHL has opposed wagering in any way shape or form, but that all changed when the Las Vegas Golden Knights moved into their new home in Nevada. Almost instantly, the NHL realized that it could reap the benefits from profits made from online wagering, media rights, merchandise, sponsorships, etc.
The NHL commissioner, Gary Bettman, stated that he was interested in hearing about potential partnerships that would benefit the league. This was stated following the repeal of PASPA (Professional and Amateur Sports Protection Act), which has opened the doors to teams and leagues profiting from gaming.
The American Gaming Association (AGA) estimates that NHL gambling could see profits in the range of $216 million. “Much like the NHL’s recent successful expansion into Las Vegas, legal sports betting will continue to expand across the country, bringing with it a $216m opportunity for the league," related Sara Slane, senior VP of public affairs with the AGA.
They are still trying to work out the kinks in the idea, as Bettman suggested that stakeholders should be the ones that would benefit from wagering, but the AGA sees a different path to payday. Casey Clark, the VP of strategic communications has come out and said that integrity fees would cast a bad shadow on the initiative. He went as far as saying, "The results of this study are very clear: Widely available, legal, regulated sports betting will create huge new revenue opportunities for sports leagues like the NHL, without mandating the transfer of revenue from one highly regulated industry to another industry.”
When the Las Vegas Knights partnered with William Hill in the US, it was a revolutionary partnership. The NBA recently signed a deal with playMGM to be its official betting partner, so the options for the 31 teams in the league are endless. In fact, when you see that the NBA, NHL, NFL, and MLB have 116 teams altogether, that translates to billions of dollars in potential gambling profits.