On Wednesday, the University of Maryland announced a new deal was signed with sports betting operator PointsBet. The deal is significant as it marks the first time a Big Ten school has partnered with a betting brand. The announcement comes as casinos in the state prepare to start sports betting services.
Details of the Multi-Year Agreement
With the deal, PointsBet signage will be added to the XFINITY Center as well as Capital One Field located at Maryland Stadium. Fans will be able to see the logo of the sports betting provider throughout these venues.
The operator will ensure responsible gambling by offering educational information to sports fans, staff members of the University, and its students. The agreement also includes a type of philanthropy but what exactly will take place will not be announced until a later date.
Playfly Sports brokered the deal and it remains unclear as to how much the agreement closed at. Sources reveal it was in the seven-figure range.
In a press release, PointsBet USA CEO Johnny Aitken commented on the deal, stating that investing in the athletics program within the University expands the brand’s ability to impact local communities and the greater DMV region.
“Sports betting education and safe gambling is key to our long-term strategy, as is making a tangible impact on the communities we invest in. We are proud to work with such a high-profile, storied university to further these objectives.”
Now that PointsBet has signed a deal with Maryland, the university joins other collegiate institutions that have teamed up with sportsbook operators. LSU, UNLV, Colorado, and the University of Denver have also signed partnership deals.
PointsBet Teams Up with The Riverboat on the Potomac
In anticipation of sports betting launching in Maryland, PointsBet teamed up with gaming operator The Riverboat on the Potomac, an off-track sports betting facility offering wagering in the state. The deal was signed in June and will see the operator providing The Riverboat with retail and online sports betting services.
By setting up a partnership early in Maryland, PointsBet is ready to get started. The brand is already very experienced in offering sports betting in the US, with services live in Colorado, Michigan, New Jersey, Iowa, Indiana, and Illinois.
Winston DeLattiboudere, from The Riverboat on The Potomac, commented on the partnership last summer, stating that the facility is excited about the new opportunity and that they will be working with ‘an international leader’ in the sports betting sector. DaLattiboudere also showed gratitude for the state General Assembly as they passed legislation that allows sports betting services to take place in the state.