The Tennessee Titans have become the first sports team in the state to announce sports betting deal with the betting operator BetMGM.
This comes as a part of a chain reaction that has already seen many sports teams forging an alliance with a sportsbook. However, this news is more exciting than any usual partnership between the two entities. This is mainly because it marks the first sports betting deal with a professional team in Tennessee, bus also as the state’s sports betting regulations are still under process before a formal launch in November.
These kinds of alliances will inevitably help the state towards a highly anticipated launch of legalized sports betting.
Tennessee Titans-BetMGM Deal, Further Details
The new partnership will see BetMGM brand featuring extensively on Titan’s digital platforms. There are also reports of branding during replays on stadium screens and during other in-game highlights. Moreover, BetMGM has been awarded exclusive naming rights to the Titan’s Saint Thomas Sports Park television studio, in addition to other content aired via the studio that relates to the Titans.
There will also be a raffle, benefiting the Titans Foundation, wherein the sportsbook will serve as a sponsor. It’s all about getting the BetMGM brand out there, drawing attention and interest towards sports betting ahead of its November launch.
Titans Welcome the Partnership
Like many other NFL teams that have already forged similar deals, the Titans have publicly shared their excitement about this partnership. While commenting on the potential it has been moving forward, team representative Gil Beverly said, “We’re all thrilled to bring BetMGM to Tennessee. BetMGM will deliver new experiences and levels of engagement to our fans. We’re excited to welcome the sportsbook in as an official partner.”
The objective is that the platform will be able to give sports fans in Tennessee a new level of engagement and an entirely new experience. For the state authorities, the inherent energy in this market will translate into healthy tax revenue.
With digital sports betting set to go live in the state on November 1, BetMGM was just one of the three elite sportsbook operators to secure a license from the Tennessee Education Lottery Board’s Sports Wagering Committee. These licenses were issued on September 23 ahead of a crucial step in preparing for the targeted launch date. In addition to BetMGM, the other operators that successfully obtained licenses are DraftKings and FanDuel.
Tennessee Looking for More Partnerships
Although BetMGM is the first sportsbook to forge a deal with a professional sports team in Tennessee, DraftKings and FanDuel are likely to follow suit and both operators are seeking to find similar partnerships in the state. In fact, the state is looking forward to seeing such deals as they will contribute to increasing sports betting revenue.
It should be noted that some of the details of this deal will not be disclosed until the state officially rolls out its sports betting regulations on the launch date. Meanwhile, the Tennessee Education Lottery Corporation will be open to accepting applications from other operators, keeping the door open for other such lucrative alliances.