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Maryland becomes first Big Ten school to collaborate with sportsbook

Maryland becomes first Big Ten school to collaborate with sportsbook

 

The University of Maryland on Wednesday reported a new multi-year manage sportsbook PointsBet, the most recent partnership between a NCAA program and a bookmaker and the first for a Big Ten school.

As part of the agreement, PointsBet signage will show up in and around XFINITY Center and Capital One Field at Maryland Stadium. The sportsbook will give education on responsible gambling to university staff, students and fans. The partnership additionally will incorporate a philanthropic component that will be declared philanthropic component.

Financial subtleties were not revealed, however a source acquainted with the partnership said it is a “seven-figure deal.” The deal was handled by sports marketing organization Playfly Sports.

“Investing in the University of Maryland athletics program expands our ability to impact local communities and the greater DMV region while also connecting PointsBet with alumni that remain actively involved in reverence to their alma mater,” PointsBet USA CEO Johnny Aitken said in a release. “Sports betting education and safe gambling is key to our long-term strategy, as is making a tangible impact on the communities we invest in. We are proud to work with such a high-profile, storied university to further these objectives.”

Maryland joins LSU, Colorado, University of Denver and UNLV as schools that have collaborated with sportsbooks. LSU did a deal with Caesars Entertainment in September. Colorado cooperated with PointsBet in the spring, and the University of Denver has a partnership with sportsbook operator SuperBook.

“With LSU being the first in the SEC and Maryland the first in the Big Ten, I think you’re starting to see the trend really come out,” said Michael Schreiber, founder and CEO of Playfly Sports, which has brokered multiple sports betting deals with colleges. “I think this really puts a mark on the trend line and really shows how this is happening across the country.”

The state of Maryland is relied upon to launch its sports wagering market this week, becoming the 30th jurisdiction to offer lawful betting. Online and in-person wagering will be permitted, including for in-state colleges and universities.

The NCAA stays a rival of all types of sports wagering over apprehensions that it will adversely affect the uprightness of rivalries and the prosperity of student-athletes. Some of the NCAA’s member institutions, similar to Maryland, in any case, are adopting an alternate strategy.

“This is the business,” Brian Ullmann, executive associate athletic director and chief strategy officer for the University of Maryland, told ESPN. “If it’s legal and we think we can manage it in a responsible way, then I think athletic programs are going to take advantage of that, and certainly the University of Maryland athletic program is taking advantage of that.”

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