Sports Betting Set To Bring $215 Million to the NHL

The NHL could be one of the first leagues to benefit financially from the recently altered sports betting laws in the US, with $215 million being promised to the league if they embrace the concept.

In a landmark decision back in May to repeal the previous ban on sports betting, many sports fans were excited about the new possibilities. However, many major leagues in the States weren’t so keen on the idea, with the NBA, NFL and NHL all originally opposed to this idea.

Since then, it seems they have come around, with the NHL set to follow in the footsteps of their basketball counterparts, who earlier this year signed a deal with PlayMGM, and embrace the concept on the promise of significant financial benefit.

Why the NHL is such a prime target for betting companies is clear. The NHL is by far the biggest and most notorious Hockey league in the world, with 32 teams consisting of players from across the world competing for the illustrious Stanley Cup. Fans worldwide tune in to the action, with a viewership of around 16-17 million. This is a hefty number of potential new bettors that any betting firm would be happy to recruit to their website.

Bosses at the NHL were already keen to get involved in the lucrative potential of sports betting, even before this sum was announced. NHL commissioner Gary Bettman announced earlier this year that he would be interested in exploring the benefits it could have for the league, so with a figure now earmarked it will now be hard for Mr Bettman to shy away from his previous interest.

It is believed that this sum will be generated via a combination of factors as a result of the partnership of sports betting companies and the NHL. It is hoped that media rights, sponsorships, merchandise and ticket sales will also be increased 3.5%, generating a sum of $150 million, with a further $60 million expected to be generated via the spending of betting operators and data providers. NHL participating teams are also expected to benefit from another $41 million through sponsorship and data, so they will likely be on board with the idea of a partnership too.

Naturally, it won’t just be the big businesses who will be receiving the perks though. Countless NHL fans out there whom are also fans of sports betting will finally be able to embrace betting in a more free-form manner for the first time. There will also be first time bettors looking to spice up their NHL action by placing bets on their favorite teams.

It is becoming increasingly clear that all the major leagues in the US are becoming converts to the idea of sports betting and are starting to see the lucrative perks on offer to them. As such, it would be unwise for the NHL to reject these potential funds nice and early, as betting partnerships are likely to become part and parcel of the sporting world in the US within no time.

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