The University of Colorado announced Tuesday afternoon that the university has partnered with PointsBet, becoming the first NCAA school to partner with a sports betting company.
The deal is a five-year contract between Learfield IMG College, the media rights holder for Buffs athletics, and PointsBet, a gaming operator that will soon open headquarters in Denver. This will inject money into the CU athletic department at a crucial time when budgets have been affected by the COVID-19 pandemic.
According to CU’s press release, “Learfield’s deal covers the entire gaming category, including free-to-play sports games, daily fantasy sports, casino, online casino, and retail and online sports betting. The deal will give PointsBet visibility at Folsom Field and the CU Events Center through gameday promotions and advertising space, as well as placement on radio broadcasts of CU games and other media channels.”
Sports betting was recently legalized in Colorado when Proposition DD passed in November, 2019. It was only a matter before a major company settled into Colorado. PointsBet has done just that, first partnering with Kroenke Sports & Entertainment, in which they can advertise through the Denver Nuggets and Colorado Avalanche.