The University of Colorado and PointsBet have reached a five-year agreement that will make PointsBet the official betting partner of the Colorado Buffaloes. This is the first time in history that a sports betting company has partnered with a college or university.
This historic deal could change the landscape of college athletics, although this deal has very little to do with actual betting. PointsBet will receive the right to place signage at home games for the Colorado Buffaloes basketball and football games.
The school will also promote the sportsbook, and PointsBet is set to launch in Colorado at some point in 2020. Colorado will receive financial relief that should help the school recover from the effects of the coronavirus pandemic.
PointsBet is an Australian-based company, but they have built their United States headquarters in Denver. Choosing the University of Colorado as a partner makes a ton of sense for both sides, but this is a historic deal.
PointsBet will offer both retail and mobile sports betting in Colorado, and they provide free-to-play games as well. The school will use the money from this partnership to give back to the student-athletes and to upgrade facilities.
NCAA Opposes Sports Betting
The National Collegiate Athletic Association has taken a firm stance against gambling in sports, especially when it comes to intercollegiate activities. The NCAA has not issued a statement regarding this new deal, but they can’t be pleased with what transpired.
Earlier this summer, a hearing took place in front of Congress to address “Protecting the Integrity of Sports.” Leaders from the NCAA and other college presidents hoped to get Congress to take action against the sports betting industry.
Betting on college basketball and football have become extremely popular, and sportsbooks in the United States feature these events in many promotions. It’s unclear if this deal will lead to similar deals with sports betting operators and other universities.
PointsBet Making Major Moves
This is not the only deal that PointsBet has made this year, and it likely won’t be the last. The company has been extremely aggressive in pursuing deals with professional sports teams and media companies.
PointsBet recently reached a deal with both the Colorado Avalanche and Denver Nuggets to become official betting partners of each team. That deal also extends to the Pepsi Center in Denver.
In the state of Michigan, PointsBet is now the official sports betting partner of the Detroit Tigers. PointsBet was also able to ink a five-year deal with NBCUniversal to become the official sports betting partner of the media giant.
Still No Launch Date in Colorado
PointsBet was expected to launch both retail and mobile sports betting prior to the start of the 2020 NFL season in Colorado, but that is no longer the case. PointsBet has now shifted their attention to Illinois, and they are expected to launch soon.
There is less competition in Illinois, and PointsBet is looking to take advantage of the mobile registration period currently underway. That period is set to expire on September 19th, and PointsBet will become the fourth online operator in that state.