The N.F.L.’s New Play: Embrace Betting Advertisements, Watch the Cash Pour In

Betting has long been a part of the National Football League’s DNA. Two of its founding fathers, Art Rooney and Tim Mara, were gamblers.

Rooney funded the Pittsburgh Steelers’ early years with a small fortune won at the Saratoga Race Course. Mara, his close friend, was a bookmaker and bought it New York Giants for $ 500.

For decades, however, NFL officials have gone to great lengths to distance the league from the tens of billions of dollars wagered on its games – legal in Las Vegas, but also offshore sports betting, office and bar pools, and illegal bookmakers. the NFL supported the Law on the Prohibition and Enforcement of Unlawful Internet Gambling from 2006, battling efforts by New Jersey to allow its casinos and racecourses to accept bets on football games.

“We’re doing everything we can to make sure our games aren’t betting vehicles,” Joe Browne, an NFL spokesman, told the New York Times in 2008.

“We have been accused of allowing gambling because it is good for the game’s popularity,” he added. “If that’s true, then we’ve wasted hundreds of thousands of dollars on gambling on our games.”

What the NFL once sold as principled has recently given way to a far more pragmatic one. As football betting became a multibillion dollar industry and state by state traded to legalize it, the NFL faced a blatant choice: continue to combat gambling in its games, or in exchange for a substantial cut accept casino marketing dollars.

And the money that the league once spent on lobbying against gambling? This season the NFL is getting it all back. And then some.

On its opening weekend, celebrities like Ben Affleck, Martin Lawrence and Jamie Foxx made commercials that aired during NFL game broadcasts offering bets with a WynnBET, DraftKings, FanDuel or BetMGM account just a click away. The NFL Network added betting lines to its ticker for the first time.

Belated or not, the NFL’s acceptance of gambling is, well, lucrative. League and industry experts expect the revenue of the NFL and its teams from gambling companies to be several hundred million dollars this season.

“This will represent an opportunity of more than $ 1 billion for the league and our clubs over the next 10 years,” said Christopher Halpin, NFL chief strategy and growth officer

Just over three years after the Supreme Court a federal law struck down who have banned sports betting in most states, sports betting providers are finding eager audiences. GeoComply Solutions, a company that uses geolocation to confirm online gamblers are doing so from places where wagering is legal, said it processed 58.2 million transactions in the United States on the opening weekend of the NFL, more than double what it handled during the same weekend last season.

“We expected high numbers of units, but what we saw still surprised us,” says Lindsay Slader, Managing Director of GeoComply based in Canada. “Demand in new markets like Arizona shows that consumers have been waiting a long time for the opportunity to legally place a sports bet.”

The company said the bets came from 18 states and the District of Columbia. More states are likely to join soon.

New York has approved online betting and is in the process of determining which operators can accept bets. And sports betting moves are being considered in densely populated states like California, Texas and Florida, where sports betting providers are spending a lot of money to gain a foothold.

“You have to look at the price,” said Craig Billings, CEO of Wynn Interactive. “I think this will be the same market size as the US commercial casino industry, $ 40 billion or more annually.”

That’s why he hired Affleck as a director and lead actor alongside Shaquille O’Neal in an advertisement, and his company plans to spend more than $ 100 million on advertising during the NFL season.

“It’s important to be part of the in-game broadcast – it’s our favorite sport with a core audience of early adopters who made offshore bets,” said Billings. “It’s a gun shot that you have to take.”

WynnBET is hardly alone.

As of September 9 of this year, DraftKings’ spending on national television advertising had increased by 98 percent compared to the same period last year, while FanDuel’s spending more than doubled, according to estimates by research company iSpot.TV.

Overall, gambling companies spent $ 7.4 million on advertising in the first week of prime-time games, 9 percent more than during last year’s opening games on Thursday, Sunday and Monday nights, according to estimates by EDO, a platform for measuring TV advertising.

“The dollars are starting to add up,” said John Bogusz, executive vice president of Sports Sales and Marketing at CBS Sports.

The network saw an increase in advertising interest for NFL shows this year. Bogusz attributed “a good part” of the growth to sports betting advertising.

“Overall, volume has increased for all advertisers, but that has also helped,” he said. “I think it will keep growing.”

Dan Lovinger, NBC Sports Group’s executive vice president of advertising sales, said on a conference call that the surge in sports betting “is reminiscent of the opening of the fantasy category.”

In 2015, FanDuel and DraftKings spent millions flooding the airwaves with commercials to attract larger audiences to daily fantasy games where fans pay an entry fee to put together squads of real football players to compete against squads of other fantasy Line up players.

The flash worked. Somehow.

The campaigns drew customers and regulators alike, leading to complaints from viewers who grew tired of the repetitive advertising. Both companies spent fortunes on lawyers and lobbyists and went unscathed to focus on sports betting.

The average amount of actual game action during a three hour broadcast of an NFL game is approximately 11 minutes. Halpin said the league’s internal investigation showed that among fans ages 21 and older, about 20 percent were frequent sports bettors, who were mostly young and male, and that another 20 percent – mostly women over 55 – were “active Rejecting “were.

To bridge that sharp divide and convince those in the middle, the NFL decided to limit sports betting ads to one per quarter along with a prelude and half-time spot – a total of six per broadcast.

Talking directly about odds and spreads has also been largely avoided during the largest NFL game broadcasts.

“We have to avoid oversaturation of the game with sports betting talks or risk alienating the fans,” said Halpin. “My mom loves her NFL, but she doesn’t want gambling talk.”

World traders proceed to pour cash into fairness funds, shrugging off inflation fears

(Reuters) – Global investors continued to put money into equity funds in hopes of a global economic recovery and vaccine optimism, and to allay concerns about inflation levels.

FILE PHOTO: An almost empty trading floor can be seen on the New York Stock Exchange (NYSE) in New York, USA on May 22, 2020. REUTERS / Brendan McDermid

Equity fund inflows doubled from last week to $ 20.4 billion in the week ended March 10, data from Refinitiv Lipper showed.

However, investors sold global bond funds $ 2.7 billion net as US Treasury yields hit a 1-year high this week.

Chart: Fund flows into global reverse convertibles and money markets –

Meanwhile, investors have also put $ 28.7 billion worth of money into safer money market funds, the data showed.

In equity funds, technology funds saw an outflow for the first time in a year due to rising bond yields. Higher returns lower the present value of future cash flows from growth stocks.

On the flip side, the financial sector saw an inflow of $ 3.14 billion, the largest in eight weeks when investors poured money into cyclical stocks amid growing optimism about a global economic recovery.

Chart: Global bond outflows for the week ending March 10 –

Other sectors that rise and fall along with business cycles, such as industrial, energy and mining companies, also saw inflows this week.

Among the commodity funds, precious metals funds posted net sales of $ 1.74 billion for the fifth consecutive year. This signals that investors are looking to safer assets like gold and are willing to take higher risks.

Graphic: Global Fund Flows into Equity Sectors –

An analysis of 23,755 emerging market funds found that equity funds generated $ 2.3 billion in inflows. Annuity funds recorded net sales of $ 3.4 billion, the largest outflow for the latter in about a year.

Chart: Fund flows into EM stocks and bonds –

Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Adaptation by Larry King

China to Pour Cash Into Chips, AI and 5G in Push to Catch U.S.

(Bloomberg) –

China has pledged to spur spending and research on cutting-edge chips and artificial intelligence in its final five-year goals and a technological plan to vie for global influence with the US

Chinese Prime Minister Li Keqiang has singled out key areas in which “major breakthroughs in core technologies” can be made, including high-end semiconductors, operating systems, computer processors and cloud computing – areas in which American companies are making an impact today. Beijing will also try to move 56% of the country to faster fifth generation or 5G networks. Nationwide R&D spending will increase by more than 7% annually, which “is expected to represent a higher percentage of GDP” than in the past five years, he added.

China is quick to reduce its reliance on the West for key components like computer chips. This problem became more pressing after the global semiconductor shortage worsened during the pandemic. Beijing is also embracing new technologies, from hydrogen vehicles to biotechnology, while also trying to ensure that its own chipmakers work with companies like Intel Corp. and Taiwan Semiconductor Manufacturing Co. can compete. This includes a new focus on silicon design software and what is known as third generation chipmaking – two areas that are critical to Beijing’s drive for technological self-sufficiency.

“Innovation remains at the heart of China’s modernization offensive,” Li said on Friday in a speech to the National People’s Congress in Beijing. “We will strengthen our science and technology to strategically support China’s development.”

Li’s speech underlined the goals enumerated in China’s 14th Five-Year Plan, which was also released on Friday. Progress in more recent areas such as quantum computers, neural networks and DNA banks were prioritized. The document contains a multi-layered strategy, both pragmatic and ambitious, that includes efforts to replace key U.S. suppliers and fend off Washington while shaping domestic champions in emerging areas.

The story goes on

Read more: China sets conservative economic growth target of over 6%

At stake is nothing less than the future of the world’s second largest economy. Beijing is moving fast as the Biden government escalates a fight against so-called “techno-autocracies”. This could add to, or even expand, blacklists that included important transactions with companies from Huawei Technologies Co. to ByteDance Ltd. and Tencent Holdings Ltd. to forbid.

In a country that imports $ 300 billion worth of chips annually, the worsening global shortage risks relying on potentially hostile suppliers to provide the building blocks for everything from AI to networks next generation through to autonomous vehicles. Friday’s report formalized China’s ambitions to develop its own semiconductor design software to replace tools from American companies Cadence Inc. and Synopsys Inc.

It also promised to develop its own advanced chip manufacturing technologies and key materials that include third generation chips. The country is seeking a first mover advantage in this emerging arena, where compounds such as silicon carbide and gallium nitride, and chips can operate at high frequency and in higher power and temperature environments, with widespread applications in fifth generation military high frequency chips -graded radar and electric vehicles.

While details of this plan only become known months later, the documents from Friday provided important information on the planned roadmap. This includes building more national laboratories and innovation centers, as well as stepping up efforts to implement a little-known program called the Sci-Tech Innovation 2030 Agenda.

Open exchange of data will be crucial, the report says. Beijing is setting up a platform for the exchange of public and government data and at the same time developing guidelines to ensure the security of this information.

“Basic research is the source of scientific and technological innovation,” said Li. “So we will ensure the stable functioning of the funding mechanism for basic research and increase spending in this area by a considerable amount.”

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