Sports gambling partnerships offer MLB new revenue streams, but there are still hurdles to consider

Sports gambling partnerships offer MLB new revenue streams, but there are still hurdles to consider

Article brief provided by Forbes
  • Christian Red, Forbes
January 13, 2021 7:00 AM
  • Christian Red, Forbes

In the wake of massive financial losses incurred during a pandemic-shortened 2020 baseball season, where no fans watched games in person until the playoffs, Major League Baseball teams looking for any new revenue streams may soon follow the Washington Nationals’ and Chicago Cubs’ lead.

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“It’s a great idea,” one league source said of the Nationals’ announcement Monday that the club had entered into a “multi-year, exclusive partnership” with digital gaming company, BetMGM. The business arrangement includes the opening of a sportsbook adjacent to Nationals Park, the team’s home stadium in the capital.

The Cubs last September made a similar business move, announcing a partnership between the storied franchise and Daily Fantasy Sports (DFS) online betting company, DraftKings.