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NHL Enters Content Deal With Snapchat

“The NHL is set to be the first sports league to take advantage of Snapchat’s third-party curation tools.”

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Fans of the NHL will soon be able to enjoy official highlights and curated stories on Snapchat.

Starting with Saturday’s game between the Pittsburgh Penguins and the Philadelphia Flyers, Snapchat will feature NHL stories with game highlight photos and videos from publicly-submitted snaps.

The NHL is set to be the first sports league to take advantage of Snapchat’s third-party curation tools. Together they will provide 15 stories throughout the season plus Our Story features for league events such as the NHL All-Star Weekend and the Stanley Cup Playoffs.

“This expanded deal provides us the ability to not only put our premium content in front of Snapchat’s younger and more diverse audience, but to also tell deeper and more creative stories regularly through the perspective of our passionate fan base,” said NHL chief marketing officer Heidi Browning.

Snapchat’s users are primarily a younger demographic and the social media outlet has proven a successful platform for the NHL. The league reported an average of 186 million users to close out 2018.

“We want Snapchat to be the best place on mobile to keep up with the NHL,” added Juan Borrero, Snap Inc.’s head of sports partnerships. “The NHL has been a tremendous partner that continues to innovate, and we’re thrilled that it will be taking advantage of all of our offerings to deliver Snapchatters the ultimate fan experience.”

Sports Online

Wynn Resorts Plans To Cut Losses, Sell Sports Betting Unit For $500M

Wynn increased revenue from Q3 of 2020 at $370.5 million to $994.6 million in revenue in Q3 2021.

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Due to high marketing costs to bring in new customers, Wynn Resorts is looking to sell Wynn Interactive, the company’s betting unit, for $500 million. Wynn Interactive was valued at $3 billion last year, according to the New York Post, and has grown in revenue and popularity. But the costs are proving to be too much to handle. 

The WynnBET sportsbook has market access in multiple states including Arizona, Colorado, Indiana, Michigan, New Jersey, Tennessee, Virginia, Louisiana, and New York. It had also partnered up with NFL franchises and multiple professional athletes. Among these were the Indianapolis Colts, Detroit Lions, and New York Jets, along with Shaquille O’Neal, Tim Howard, and Chad Johnson.

Wynn increased revenue from Q3 of 2020 at $370.5 million to $994.6 million in revenue in Q3 2021. However, the company still remained at a net loss of $166.2 million during the quarter, down from a net loss of $758.1 million in Q3 2020.

Wynn is having to do a bit of backtracking and trying to cut their losses. They acquired a $1.5 billion line of credit from the Bank of China last September, with $100 million of it being planned to use to market the sports betting app for this year’s football season.

In another cancellation, Wynn was hoping to take the online sports betting division public via a SPAC merger with Austerlitz Acquisition Corporation but had to kiss that goodbye last November.

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Sports Online

FanDuel Makes Nearly $17 Million In New York After NFL Wild Card Weekend

Plenty of bettors in New York were chomping at the bit to legally wager on games.

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Mobile sports gambling has only been live in New York for a few weeks and already, the sportsbooks and the state are raking in the cash.

New York City news station WPIX reported Monday that FanDuel saw $16.9 million in gross revenue following Saturday and Sunday NFL Wild Card playoff games. The Monday night game featuring the Los Angeles Rams and the Arizona Cardinals was excluded from that total, but the sportsbook made an additional $2 million.

In New Jersey, PIX reported the state made $41.8 million in gross revenue in January 2021. That number was expected to be exceeded by FanDuel in New York as of Monday.

The station also reported $3.9 million in earnings for DraftKings, $14.1 million for Caesars Sportsbook, and $70,433 for RushStreet following NFL Wild Card Weekend.

Plenty of bettors in New York were chomping at the bit to legally wager on games and it’s clear the floodgates opened once everything went live earlier this month.

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U.S. Sports Betting Doubled To Over $52B In 2021

“The massive increase is also a result of billions spent by gambling operators on marketing campaigns. “

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Legalized sports betting continues to boom in the U.S. Due to launches in 11 new states, the market doubled in 2021, having over $52.7 billion wagered during the course of the year according to Morning Consult.

The massive increase is also a result of billions spent by gambling operators on marketing campaigns. 

Here are the facts: 

  • Adult bettors placing at least one bet a week went up 7% since January 2021 from 5% to 12%, 14% of bettors said their average bet is over $100, and oddsmakers only came away with around $4 billion of the amount wagered that year.
  • The majority of the U.S. has legalized sports betting. As of now, 30 states and Washington D.C. have jumped on the legalization train and young people are the driving force. 
  • 19% of adults between the ages of 21-34 have bet on sports at least once a week in legal and offshore sportsbooks. However, there is still a strong market for the slightly older demographic. 23% of U.S. adults aged 35-44 place a sports bet weekly, with another 8% wagering monthly.

“Given the proliferation of online sports betting and operators’ focus on digital marketing, it should come as no surprise that younger Americans are the most inclined to place wagers on games,” writes Morning Consult’s Alex Silverman.

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