Sports media and sports betting converge as legal gambling booms

Sports media and sports betting converge as legal gambling booms

Over the past decade, the Tribune, like many media outlets large and small, has hemorrhaged jobs. This summer, in the midst of the coronavirus pandemic, there has been time off, projecting his future in ever more precarious terms. Greenstein headed for what looked like greener pastures, anchoring his career squarely on the future of legal sports gambling.

Since the Supreme Court overturned a federal law in 2018 that limited sports gambling primarily in Nevada, 19 state and district legislatures have legalized sports gambling in one form or another, while another 27 are heading. towards legalization. The first feedback has been encouraging. In October, for example, the amount of money wagered in New Jersey eclipsed $ 800 million, more than Nevada’s $ 650 million.

In a rush to attract these new customers, gambling operators have turned to sports media companies, who are in their own race to cash in on the legal betting boom. ESPN, NBC and CBS have formed lucrative advertising partnerships with major sportsbook….

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