USA TODAY International Edition
NCAA athletics program makes rare gambling deal
To boost their resources at a time of rising financial uncertainty, the Colorado Buffaloes have reached a five- year sponsorship deal with an online sports betting company whose product is still banned for use under NCAA rules for players, coaches and staff.
In effect, the deal between Colorado and PointsBet means Colorado’s athletics program will take in revenue from the deal even as CU employees and athletes could get in trouble for becoming PointsBet customers.
But that’s all OK, according to sponsorship rules, as gambling boundaries continue to blur in college sports amid the pressure to bring in more revenue.
Colorado voters approved the legalization of sports gambling last November, clearing the way for legal bets there in May. At the same time, NCAA rules still prohibit sports wagering among athletes, coaches and staff.
“Any marketing partnership between a sportsbook and a college or university definitely raises serious questions of a conflict with the NCAA’s global message regarding sports betting,” said Chris Grove, who tracks sports betting for Eilers & Krejcik Gaming, a gambling industry research and consulting firm. “It’s important to realize that we’re on basically unexplored ground at this point. There’s no established playbook for how these partnerships should or will work. Everyone is going to learn together.”
This is not the first time this has happened, though it is quite rare. The William Hill sportsbook has advertised with UNLV through the school’s media rights holder, Learfield, a school spokesman confirmed. The Colorado sports gambling deal still might be the first high- profile college sports deal outside the gambling mecca of Nevada. It comes with PointsBet, a company founded in Australia that describes its system as a high- risk, high- reward form of betting.
“We supported the state bill around sports gaming, because we believe the integrity of our sports will be stronger now that it’s legal,” Colorado athletic director Rick George said. “We are partnering with PointsBet because we feel this partnership further increases the integrity of our game.”
George said he consulted with the NCAA and Pac- 12 Conference about the deal beforehand and noted the presence of casino sponsorships in college sports.
The NCAA declined commentthrough a spokesman. George declined to disclose financial terms, noting the deal came also came through its media rights holder, Learfield IMG College, a private entity. George emphasized the support it will provide for its Scripps Leadership and Career Development program for athletes, while stressing the partnership will help awareness about responsible sports betting education.