The recently signed PointsBet sports betting agreement with the University of Colorado provides the Buffs with some innovative, if extremely dubious, financial rewards.
The first corporate alliance between a sportsbook and a National College Athletic Association Division-I school was signed by PointsBet last month. For the NCAA, which for decades lobbied hard against the legalisation of sports betting, the deal represented a significant turnabout. Technically, the contract is with Buffalo Sports Properties LLC, which is part of the sports marketing operation at Learfield IMG College.
The financial terms of the PointsBet-CU Buffs pact were not revealed, as with all recent agreements signed between sportsbooks and major North American sports teams and leagues. But a copy of the agreement, which includes some eyebrow-raising financial benefits for the school, was obtained by Sports Illustrated.
The five-year contract will see CU receive a minimum of $1,625 million , plus $30 for each bettor who uses a school-specific promo code to open an account with PointsBet. The notion that an NCAA school will serve as a sports betting affiliate marketer can ruffle feathers among more conventional sports fans and/or those who continue to view legal wagering with a cynical eye, albeit one that doesn’t earn much from its referrals.
Given that the bulk of the student body of the school is under the legal betting age of 21, the school would have to be highly cautious about how this promo code is promoted. Wagering by its athletes and off-field employees is already forbidden by the NCAA and draught legislation making the rounds would bar players from promoting gambling goods.
PointsBet ‘s contract, for its part, forbids it from using the name, picture or likeness (NIL) of any CU athlete without the permission of the school. If any athlete files a legal claim against the organisation due to their Zero, the contract also compensates the school.
The publicity rights of the contract include frequent displays of the PointsBet logo on videoboards, end zone LED screens and ribbon boards of the football stadium, along with guaranteed “TV visibility” for a permanent field-level sign.
PointsBet will also earn one in-game mention during radio broadcasts regarding the stadium’s PA system as well as advertisements and name-checks. These incentives, however, apply only to regular season games, with the organisation having to pay out $600 for every post-season game for a 30-second ad.