The Bears partnership with PointsBet: why is it big news for US sports and US sports betting
Sports could easily be argued to be the national pastime in the USA, and there’s certainly no exception to that in Chicago. The Windy City is home to some of the most passionate sports fans around. This is no surprise when you think about how many top teams there are in the city. The Cubs are just one of these, and keeping up with their latest news (like all the back and forth with Kris Bryant’s possible trade) will keep you busy for hours.
A major change around the whole sporting sector in recent times has been the legalization of sports betting in America. This was sparked by the US Supreme Court’s overruling of the PASPA Act in 2018. As well as giving people around Illinois the chance to profit from betting on sports, it has also opened up a new world of opportunities for the sporting industry. For example, the Chicago Bears made lots of noise recently when they inked an agreement with the PointsBet brand. But what did this involve and what implications does it have for US sports and sports betting in general?
What partnership deal have the Bears made with PointsBet?
This September 2020 agreement was a real landmark in the Bears’ history, as it is the first time the team has ever been sponsored by a sports betting firm. The deal reportedly allows PointsBet to use the Chicago team’s logo, branding, and intellectual property on its site. Not only will this deal bring extra sponsorship revenue into the Bears but it also offers a new way for fans to engage with the team during a season.
How could this impact on the future of US sports betting?
While aligning with the sports betting market now legalized in Illinois with other states soon to follow could help US sports prosper, the reverse is also true. The Bears’ deal with PointsBet hints at a way the sports betting industry may grow in the future, through partnering with top sides. As deals like this put the betting brand on official club merch and shirts, it puts them in front of millions of fan’s eyes, at every game. This opens up a huge new market to the sports betting sector in the USA.
Another major impact deals such as this could have on the future of betting on sports could be that it simply makes it more mainstream. By partnering with respected teams in pro sports (such as the Bears), sportsbooks can borrow some sports’ mainstream appeal and trust for themselves. People will get comfortable not only with the sportsbooks’ brands but also the idea of betting on sports in general.
As public perception changes, further states will look to the benefits of legalizing the process, facing lost revenue both in taxable income and for their cultural exports – such as in this case, with a sponsorship of a flagship team. More on that in a moment.
What does this deal mean for US sports in a wider sense?
While this is big news for Chicago sports fans and sports betting in the USA, it could cause waves in US sports as well. The most obvious effect is that we may begin to see more pro teams across all the major sports partner with sportsbooks. Already, the Colts have signed up with PointsBet and more NFL teams could decide to follow suit. This could see partnership deals with sports betting brands become more common – not only in football but in sports such as basketball, hockey, and baseball as well.
