Home I Latest News I PGA Tour Approves Gambling Sponsorships
Players, teams, and major events of professional sports in the US are now embracing gambling sponsorships. The PGA Tour is the latest sport to join in now that sports betting in the US is legal.
Effective immediately, the PGA Tour voted to reverse its previous ban on event and player sponsorships from gambling companies, as well as certain alcohol and Daily Fantasy organizations. Larger casinos are approved for endorsements, as well as deals from spirits companies, but sponsorships from sports books are still prohibited.
Previously, the tour prohibited any association with gambling and limited all alcohol deals to beer and wine companies only. The liquor policy does not extend to golf’s four major pro tournaments—The Masters, U.S. Open, PGA Championship, and British Open. The tour will also allow deals with fantasy sports brands FanDuel and DraftKings.
“With the direction the tour is going on the legalized gambling side of things. It’s good for all parties to try and maximize earning potential and new business relationships for everyone involved.” — Player-director, Kevin Streelman
The decision comes as no surprise. Since even before the Supreme Court overturned a 1992 federal law banning commercial sports betting in most states, the PGA was contemplating getting involved.
Sports betting is now legal in seven states, including Pennsylvania and New Jersey, with legislation introduced in many other states as well.
“Ever since the Supreme Court’s decision last year we have been publicly engaged about sports betting, traveling the country talking to state officials and our constituents. The benefits of these relationships is tremendous, not the least of which is, from an integrity perspective and having the ability to work with organizations, we’ll gain some insight on what’s going on, from that perspective, in our sport. Fan engagement is also a key and the ability to reach people who might not otherwise follow our sport.” — Andy Levinson, PGA senior vice president of tournament administration
The biggest benefit is money. The gambling industry is responsible for a total contribution of around $150 billion to the U.S. economy annually.
Professional golf joins the NFL, NHL, and NBA in allowing relationships with legal gambling.
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