Denver Broncos, FanDuel Ink NFL’s First Sports Betting Sponsor Deal
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History was made on Monday when the NFL’s Denver Broncos and FanDuel Group announced a multi-year agreement allowing the gaming company to serve as the team’s official sports betting and daily fantasy partner.
The Broncos are the first NFL team to secure a sports betting sponsorship since the league created the category last month.
FanDuel gets the ability to use the Broncos logos across their applications within the state. The company also gets to market itself to Broncos fans through exclusive signage opportunities at Empower Field at Mile High, the team’s stadium, as well as through broadcast and digital advertising.
FanDuel users also will have a chance to score “once-in-a-lifetime” opportunities with the Broncos.
In a statement, FanDuel Group Chief Marketing Officer Mike Raffensperger said Colorado is home to “passionate” sports fans, and the arrangement with the Broncos will give the company the opportunity to offer promotional betting markets.
For example, in the state, FanDuel customers can get the Broncos and 30 points for the season opener on Sept. 14 against the Tennessee Titans. In FanDuel’s other states, the Broncos are a 1.5-point favorite. The special spread is available at even-money odds with a $50 cap. Those who play FanDuel within the state can also bet on the team’s total wins for the season, over/under 7.5, with odds set at +1600. Bets on that are capped at $10.
Other promotional odds will also be available.
Broncos Long Shots This Year
While the Broncos enjoy a strong fan base and have been a traditional power in the league, they’re currently in a bit of a rebuild right now.
As a rookie last season, quarterback Drew Lock took over in the final five games as the starter. He threw for just 1,020 yards in five starts, but he led the Broncos to a 4-1 record to give Denver a 7-9 overall record. His only loss came to the Super Bowl champion Kansas City Chiefs.
The offense, which ranked No. 28 in the league last year, will need to improve, and team officials hope first-round draft pick Jerry Jeudy can form a nice receiving tandem with Courtland Sutton and give Lock opportunities to move the ball downfield.
The defense meanwhile hopes to get a full season from defensive end Bradley Chubb, who played just four games in his sophomore season after suffering an ACL tear. He and linebacker Von Miller should be the cornerstones of what could be one of the AFC’s top defenses.
FanDuel’s oddsmakers think the team might be a year away. The odds for the Broncos to make the playoffs are +180, compared to -225 to miss them. They’re also a +1100 choice to win the AFC West (third lowest, with the Chiefs the -390 favorite).
The Broncos’ odds at FanDuel to win the Super Bowl are +6000.
Colorado Sports Betting In Focus
Colorado approved sports betting last fall through a referendum, and last month sportsbooks and sports betting apps began launching even though COVID-19 limited opportunities for betting. FanDuel, along with its primary rival DraftKings as well as BetMGM and BetRivers, launched in the Centennial State on May 1, the first day sport betting was officially allowed.
With FanDuel’s successful launch into Colorado earlier in May, we believe Broncos fans will enjoy FanDuel’s trusted mobile sports betting and daily fantasy platforms,” Broncos Chief Commercial Officer Mac Freeman said in the release.
FanDuel has a gaming partnership with Twin River Worldwide Holdings, which allows it to run the sports betting app, or “skin,” for Twin Rivers’ Golden Gates Casino Black Hawk.
With a population of just 5.6 million, Colorado won’t be one of the bigger sports betting states marketwise. However, the regulatory structure has attracted 20 companies that plan to offer apps, including several Las Vegas-based companies like Circa Sports and the SuperBook.
Thanks to their backgrounds in daily fantasy sports and the customer bases and name recognition they’ve already built through those games, FanDuel and DraftKings typically dominate the sports betting market in other states. In New Jersey, Pennsylvania and Indiana, the two companies were enjoying a combined market share of 75 percent or more each month. With some new competition, it will be interesting to see if that becomes the case in Colorado as well.
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