November 22, 2023

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The 8-2 Detroit Lions enter Thanksgiving with their best record through 10 games in 61 years. I’m looking forward to their NFC North matchup with the Green Bay Packers, the ensuing full day of football on Thursday — and of course, my fair share of turkey, sides, and pie.

Speaking of the holiday, there will be no newsletter this afternoon or tomorrow, but be on the lookout for a special newsletter edition on Friday when FOS senior writer Michael McCarthy breaks down the NFL’s first Black Friday game — and how it came to be.

— David Rumsey [[link removed]]

U.S. Sports Betting On Pace To Hit $100B In Wagers [[link removed]]

Keldy Ortiz/ NorthJersey.com

Sports betting operators were always looking at 2023 as a landmark year in the business, and now there’s fresh data showing exactly how much that is the case.

A recent report [[link removed]] from the American Gaming Association found that Americans bet $23 billion on sports during the third quarter, 32.7% higher than a year ago, and well on pace to hit an unprecedented $100 billion in total handle for the year.

The total January-September sports betting handle stands at $78.7 billion, up 22.9% from the comparable period in 2022. But the accelerating growth is due in significant part to states such as Massachusetts and Ohio that have either introduced or expanded legal sports wagering this year.

With the strong increases in handle, sports betting revenue for operators is also on the upswing. Third-quarter revenue reached $2.15 billion, up 22.8%. The nine-month figure of $7.11 billion, meanwhile, is 51% over the comparable period a year ago and nearly matches the full-year 2022 figure of $7.18 billion.

“The notable rise in betting volume, surpassing revenue growth, hints at an evolving, engaged betting community,” said Matt Speakman, U.S. sports betting analyst at Online-Gambling.com. “With upcoming major sporting events, I expect continued market growth.”

The U.S. sports betting market also remains in the midst of transition with the entrance of the well-resourced Fanatics and ESPN Bet [[link removed]].

As has been the case since New York introduced legal online sports betting in January 2022, the Empire State remains the industry’s top performer. In October, it became the first U.S. state to post $2 billion in sports betting handle in a single month.

PODCAST

🎙️ They Said What?

“What I can tell you is that this would almost certainly bankrupt [the NCAA] and the Power 5 conferences.”

– Amanda Christovich, Front Office Sports reporter, on the implications of a $4 billion lawsuit the NCAA is facing that seeks to allow athletes to claim a portion broadcast revenue as an NIL benefit. To hear more about the case, check out the latest episode of FOS Today.

🎧 Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].

Las Vegas Gets MLS Recommendation From Key Team Owner [[link removed]]

Jasen Vinlove-USA TODAY Sports

Las Vegas has long been seen as a frontrunner [[link removed]] for MLS expansion. But when the league grows to 30 teams in 2025 with the addition of San Diego FC, Sin City is still set to remain on the sidelines.

However, the city’s efforts to add yet another professional sports team has received a ringing endorsement from one of the most influential owners in MLS: David Beckham.

“It’s a real opportunity. We’ve seen the hockey team come in and do incredibly well, and obviously the Raiders being here,” the Inter Miami co-owner told [[link removed]] Bloomberg. “In the future, who knows with MLS and if a team comes here to Vegas.”

Beckham was in Vegas for last weekend’s heralded Formula 1 race and came away impressed with the city’s potential for more pro sports.

Any further MLS expansion fees are likely set to surpass the $500 million San Diego is paying to enter the league. The Southern California city beat out Las Vegas in the most recent round of expansion. Sacramento has made strong efforts to lure MLS, and league commissioner Don Garber has also mentioned Detroit, Phoenix, and Tampa Bay as potential options.

World Cup In Vegas, Too?

Beckham’s praise for Las Vegas didn’t stop with his thoughts on MLS’ future in the city.

The soccer legend hinted at Vegas being a viable FIFA World Cup host city — even though it wasn’t selected to host matches for the 2026 event. “If it does, then I think it’s going to be spectacular,” Beckham said [[link removed]] of Las Vegas as a World Cup site.

FIFA could be searching for another host venue in 2026 if its disagreement [[link removed]] with Los Angeles Rams owner Stan Kroenke ultimately ends up removing World Cup matches from SoFi Stadium.

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NASCAR’s Streaming Ambitions Could Be Final Piece Of Media Rights Puzzle [[link removed]]

John David Mercer-USA TODAY Sports

NASCAR intends on making streaming a major component of its next set of media rights deals — and figuring out exactly what that will look like might be the final step in solidifying its broadcasting future.

Fox and NBC are widely expected to keep showing NASCAR races under extended deals that would begin in 2025. But earlier this month, at the Cup Series championship race in Phoenix, NASCAR president Steve Phelps confirmed a streaming component was in the works, as well.

Right now, Fox broadcasts the first half of the NASCAR season and NBC the second, including the playoffs. The two companies pay a combined $820 million for NASCAR rights. Last year, sources had told Front Office Sports that NASCAR was shooting for as much as a 15% increase [[link removed]] in media rights fees, which would take the circuit close to $1 billion.

Shifting Gears

This week, Sports Business Journal reported [[link removed]] that NASCAR is expanding its proposed midseason package from six races to 10 in an effort to potentially entice broadcasters to pay more for that set. Previously, Amazon and Warner Bros. Discovery had reportedly [[link removed]] been two contenders to take that package and be a third media partner with NASCAR. In Phoenix, Phelps admitted that he thought the new media rights agreements would have been in place by now.

Conventional thinking would have an Amazon deal streaming races exclusively on Prime Video. WBD would have the option of putting races on its cable channels, TNT or TBS, or exclusively airing or simulcasting them on its Max streaming service.

Once an agreement is reached for this new midseason package, expect NASCAR to move quickly in announcing the upcoming deals.

Cricket Continues To Surge In Popularity [[link removed]]

ICC

This year has been perhaps the most impactful ever in cricket’s long history, and the recently concluded ICC Cricket World Cup provided another major victory.

The international championship tournament, held in India, drew a record attendance of 1.25 million, surpassing the prior mark of 1.02 million set for the 2015 event in Australia/New Zealand and smashing the 752,000 who attended the England/Wales tournament in 2019.

“The staggering attendance demonstrates the enduring appeal of cricket and excitement the [one-day international] format continues to offer,” said Chris Tetley, head of events for the International Cricket Council, the sport’s governing body.

Disney’s Hotstar topped [[link removed]] 59 million concurrent viewers for the tournament final in which Australia upset the host nation India. The figure set a new record for global on-demand video streaming for the tournament final match and added a whopping 24 million concurrent viewers to a prior streaming record set [[link removed]] just last month.

The new records follow months of meteoric growth for cricket, a run that includes inclusion [[link removed]] in the 2028 Summer Olympics, the U.S. hosting [[link removed]] the 2024 ICC Men’s T20 World Cup, the debut [[link removed]] of Major League Cricket in America, heightened investor interest [[link removed]] in team deals, and the completion of lucrative media rights contracts [[link removed]].

“Monday Night Football” did it again.

The Eagles-Chiefs game was the most-watched [[link removed]] “MNF” game in ESPN history and easily the top game of the season. The Super Bowl LVII rematch averaged 28.9 million viewers across ABC, ESPN, and the “ManningCast” on ESPN2. The largest regular-season Monday night game in history was in 1996 — a Packers-Cowboys game that drew 31.4 million.

Conversation Starters NFL quarterbacks who have dealt with major injuries [[link removed]] this season — forcing them to miss significant time — collectively represent more than $1 billion in contract money. After six hours of debate, Northwestern’s 35,000-seat, $800 million stadium project has been approved by Evanston City Council — and work is expected to begin immediately. Check out [[link removed]] the renderings. Playfly Sports CEO Mike Schreiber takes to Rolling Stone to spell out why it’s important for marketers to pay attention to the popularity of MLB and baseball. Check out the insights [[link removed]] and how valuable America’s favorite pastime is to advertising.† Learn how you can capitalize on the world’s largest sporting event with Parity [[link removed]], the Gold Medal Guide to Olympic & Paralympic Marketing.† SPONSORED BY INVESCO QQQ Between unprecedented conference realignments, historic media rights deals, the wild world of NIL, and high-stakes competition, this space couldn’t be more exciting right now, but you need someone to help you make sense of it all. That’s where we come in. NCAA, Power 5 Conferences Challenge Latest Ruling in House NIL Case [[link removed]]by Amanda Christovich [[link removed]]They could be on the hook for billions. Ohio State-Michigan Records Priciest Ticket In Rivalry History [[link removed]]by Doug Greenberg [[link removed]]The cheapest ticket to Saturday's game is $676 on the secondary market. Northwestern Secures Approval For New $800M Football Stadium [[link removed]]by Doug Greenberg [[link removed]]Northwestern's rebuild of Ryan Field can move forward after a contentious debate. Gonzaga-To-Big 12 Talks Reportedly Heating Up Again [[link removed]]by David Rumsey [[link removed]]The school and conference could be making a decision soon. Question Of The Day

Do you try to set health / wellness goals in the new year?

Yes [[link removed]] No [[link removed]]

Tuesday’s Answer

76% of respondents attend at least one concert/live music event a year.

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NCAA is a trademark of the National Collegiate Athletic Association. Invesco is not affiliated with the NCAA.

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