The Broncos on Monday announced a multi-year partnership with FanDuel to serve as the team’s official sports betting and daily fantasy partner.
The Broncos are the first NFL team to finalize this type of deal since the league allowed such agreements in May.
“This is a dynamic time in this particular space and (after) the conversations with probably a dozen different partners in the space, I think FanDuel seems to be defining itself as very innovative and forward-thinking as it relates to data and business intelligence,” Broncos chief commercial officer Mac Freeman said in a phone interview. “We’re just very excited about what we’re going to learn about our fans and their behavior and we should be able to get tremendous insight.
“We’ve always prided ourselves in being innovators and thought leaders and we’re excited to be in the front of the line stepping into the new space.”
Under the contract, FanDuel will have access to the Broncos’ logos to use across their sports betting and daily fantasy sports options in the state of Colorado as well as displaying signage at Mile High and advertising on the team’s radio, television and digital platforms.
“Given that Colorado is our newest market, the Broncos made a lot of sense,” FanDuel chief marketing officer Mike Raffensperger said in a phone interview Monday morning. “Colorado is just an amazing sports market for major league teams and the Broncos have a special affinity and fandom across the state, even above and beyond other NFL franchises.”
Last November, Colorado voters approved Proposition DD to allow legalized sports betting and it was made available starting May 1.
Freeman said the league policies for what kind of gambling information (if any) can be displayed on Mile High’s LED boards has not been finalized.
“Right now, you’re not going to see us get into a lot of tracking handles and lines (on the boards),” Freeman said. “We have to find the right balance within our stadium. This is something a large number of fans are excited about, but it’s not for everybody.”
Bettors in the state are allowed to gamble live on several apps, including FanDuel Sportsbook. A bettors’ device uses geolocation technology to verify they are within Colorado before permitting a wager.
FanDuel recently announced Colorado partnerships with Twin River Worldwide Holdings and Golden Gate Casino Black Hawk to provide online sports betting.
Bettors in Colorado can use the FanDuel app to bet on NFL, NHL, NBA, MLB, golf, MMA, soccer, NASCAR and other sports.
Of working with the Broncos, Raffensperger said: “They were forward-thinking, innovative organization. They were excited about some of the things we had done in other markets and we had some like-mindedness and all that brewed together to get a deal done.”
The NFL’s Sports Betting Committee, following months of research, approved a loosening of the rules and it represents another step for the league in pursuing new revenue streams created by legal and regulated sports gambling.
The Broncos-FanDuel partnership is non-exclusive, meaning the team can enter into deals with other sports betting companies.
“We intentionally did not do an exclusive deal because this is an evolving space and we want to be working with a couple different partners and see how different strategies and different approaches work,” Freeman said. “Obviously, our goal is serve our fans and engage our fans and this is a natural evolution we started a few years ago with mobile ticketing and other things.”
Previously, NFL teams were allowed to sign deals with sports betting firms, but not for traditional wagering. An example was the Indianapolis Colts’ deal with FanDuel last year for a “fantasy sports” sponsorship.
The wheels to this point were put in motion in 2018 when the U.S. Supreme Court allowed state-by-state sports betting legalization.
This story will be updated …