Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Key Points In Licenses for Sports Betting Rights

By Ivan Parron
July 01, 2021

The legalization of sports betting and the licensure of such rights to new tech market players is redefining sports media and sports law. As a result, contract negotiations are becoming increasingly complex and requiring parties to consider an evolving set of nuanced issues.

This trend — which began to emerge following the U.S. Supreme Court's decision in Murphy v. National Collegiate Athletic Association, 138 S. Ct. 1461 (2018), to strike down the Professional and Amateur Sports Protection Act of 1992 and open the floodgates to allow states to legalize sports betting — reached epic proportions in recent months. The past several alone have brought an unprecedented boom in sports media industry transactions, including:

  • The Fox Sports regional television networks have rebranded as Bally Sports in a 10-year, $85 million deal.
  • ESPN is experimenting with gambling-focused studio shows.
  • DraftKings purchased the Vegas Stats & Information Network for $50 million.
  • Caesars Entertainment closed multiple deals with professional teams, such as the MLB Arizona Diamondbacks. to open sports books in ballparks and stadiums across the country.
  • Genius Sports, who licenses all of the NFL's sports betting data rights, completed a $1.5 billion public offering and was listed on the New York Stock Exchange.

Based on my experience since 1995 at the center of the convergence of technology within the sports and entertainment industries, commencing with the Internet and dot-com boom, I can say there's not much I haven't seen — and without a doubt, I have never witnessed this degree of activity and change within the industry in such a short time frame.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
New York's Latest Cybersecurity Commitment Image

On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.

Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office Image

A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.

Bit Parts Image

Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights

The Bankruptcy Hotline Image

Recent cases of importance to your practice.

How AI Has Affected PR Image

When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.