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Inside recent sports media and gambling deals: expert analysis - Business Insider

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A recent wave of sports media and betting tie-ups shows what the sectors hope to gain from one another — and their reservations about getting too close

Mike Ehrmann/Getty ImagesWhen live sports returned over the summer, deals between US sports-media brands and betting providers immediately picked up steam.

"It's like being engaged, but not being ready to set a wedding date," one source close to some of the recent deals told Business Insider. The pacts follow other recent tie-ups between sports media and betting companies, including Fox's relationship with The Stars Group that created Fox Bet,Experts say the recent rise in deal activity is a vote of confidence in sports betting's recovery after the live-sports limbo amid the pandemic. The deals are also part of an effort by betting providers to signal who's here to stay, after operators crowded into the US market over the past two years.

"It's like being engaged, but not being ready to set a wedding date," one source close to some of the recent deals told Business Insider "There may be some dissonance between all these partnerships which are very national in nature ... when we are no where close to national sports-betting market," said Chris Grove, a partner at Eilers & Krejcik Gaming, who heads up the research and consulting firm's sports-betting practice.

 

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