The University of Colorado And PointsBet Ink NCAA Betting Partnership
The NCAA signed its first-ever gambling partnership with The University of Colorado, inking a five-year exclusive corporate sponsorship agreement with PointsBet. The partnership gives the betting operator signage at Folsom Field.
Additionally, the sportsbook will have advertising space throughout the campus event center and gameday promotions along with radio broadcasts and other media channels.
The agreement covers the entire gaming category — daily fantasy sports, free-to-play sports games, casinos, and online casinos, as well as online sports betting.
While the professional sporting world has been quick to implement sports betting after the federal ban was overturned in 2018, the NCAA has remained firmly against it, stating concerns over player’s well-being and integrity.
In an attempt to lessen the negative perception of gambling in college sports, the partnership includes support for the Scripps Leadership and Career Development Program stating it will “emphasize and create awareness around responsible gaming and sports betting education.”
However, Colorado and the Pac-12 Conference have no plans to begin to play until at least January 2021 with a budget ranging from $60–70 million instead of the average $90 million.
As college athletic departments nationwide have to cut budgets, the hope is the new partnership will help increase the money coming into CU through athletics.
“We’re thrilled to have PointsBet as a partner and for the benefits this sponsorship will provide for our student-athletes for years to come,” stated CU Athletic Director Rick George. “We are impressed with their commitment to raising awareness around responsible gaming. And we’re particularly excited whenever we can partner with sponsors who call Colorado home.”
While PointsBet is currently based in Australia, they are now building a new American headquarters just 30 miles from the university with other plans to launch their app in Colorado soon.
“As a tech company at heart that is proud to call the state of Colorado home, we are thrilled to announce this partnership as part of our ongoing quest to become synonymous with Colorado sports betting,” stated PointsBet USA CEO Johnny Aitken. “Since announcing our plans for a new headquarters in Denver, we’ve consistently stated our desire to work closely with the state’s first-class university system and rich pool of tech talent. It is an honor to become a partner of the Colorado Buffaloes, where we look forward to bolstering general sports betting knowledge and responsible gaming awareness while recruiting some of the best and brightest minds to help install a foundation for prolonged success.”
Sports betting just became legal in Colorado as of May 1. PointsBet has been making moves ever since signing a similar sponsorship deal with Kroenke Sports & Entertainment, making them the Colorado Avalanche’s official gaming partner, the Denver Nuggets, the Colorado Mammoth’s and the Pepsi Center.
Since going public in June 2019, PointBet’s stock has risen 70%.
