PGA Tour and PointsBet Agree to Sports Betting Deal

PGA Tour and PointsBet Agree to Sports Betting Deal
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In a matter of three weeks, the PGA Tour has gone from not having an official sports betting operator to having three.

The PGA Tour announced Tuesday that PointsBet would be joining DraftKings and BetMGM as official sports betting operators. It’s another sign, as was posting odds on the PGA Tour livestream last weekend, that golf wagering is important to the sport.

PointsBet, like DraftKings and BetMGM, will have use of PGA Tour trademarks, be able to market on tour platforms and have access to content and video for pregame and postgame betting programming, according to a news release.

RELATED: Q&A with PointsBet VP of customer & insights, Ron Shell

“We are thrilled to work with PointsBet, a world-class brand with an exciting vision for golf’s potential in the betting space,” Norb Gambuzza, PGA Tour senior vice president of media and gaming, said in a news release. “PointsBet’s golf products are experiencing incredible growth, which lays the foundation for a very successful relationship.”

In 2020, more than half of PointsBet’s golf handle has been generated by in-play live betting vs. outright tournament/round bets, the release said. Compared to the same June-July events last year, in-play golf betting has seen a 65% increase in bet count, in unique bettors and in total amount of money wagered.

The in-play betting clearly appeals to the PGA Tour.

“PointsBet has made a substantial commitment to golf through a deep and robust product offering and an emphasis on live, in-play betting, both of which will translate into greater audience development and fan engagement for the PGA Tour,” Gambuzza said.

The 2020 FedEx Cup Playoffs, the three golf tournaments that will determine the season tour champion, begin with this week’s Northern Trust Open at TPC Boston.

PGA Tour & Sports Betting Deals

The announcement Tuesday follows the PGA Tour’s deals with DraftKings and BetMGM.

The first, on July 28, was with DraftKings. It became the first official sports betting operator of the tour. It was an expansion of a previous partnership agreement. DraftKings became the first official daily fantasy game of the tour in July 2019.

BetMGM and the tour announced their agreement Aug. 3. It was also a multiyear deal. BetMGM is Roar Digital’s sports betting and gaming platform. Roar Digital is the joint venture between MGM Resorts and GVC Holdings.

The PointsBet announcement comes just after Collin Morikawa won the PGA Championship on Aug. 9. In addition to the FedEx Cup Playoffs, there are still two majors to be played.

The U.S. Open is scheduled for Sept. 17-20 at Winged Foot G.C., Mamaroneck, New York, with the Masters set for Nov. 12-15 at Augusta National G.C. in Augusta, Georgia.

The PGA Tour shut down in mid-March because of the coronavirus pandemic. It was one of the major sports to hold regular events again, along with UFC and NASCAR, since early June.

PointsBet Expanding Quickly

PointsBet is licensed for sports betting in New Jersey, Indiana and Iowa and will soon launch in Illinois, Colorado and Michigan.

It also recently announced several big professional sports deals. On Aug. 5, PointsBet became an official partner of the NBA’s Indianapolis Pacers. Two days later, it became the official and exclusive partner of the professional teams and venue owned by Kroenke Sports & Entertainment in Colorado — the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, the Colorado Mammoth of the National Lacrosse League and the Pepsi Center, where the teams play.

On July 2, PointsBet became the first sports betting operator to reach an agreement with an MLB team — the Detroit Tigers.

And now PointsBet has a foothold in golf.

““As golf betting continues to rise, we are positioned well to innovate and grow with the PGA Tour,” Johnny Aitken, PointsBet USA CEO, said in the news release.