The gold rush for professional sports teams in Colorado continues. As one of the newest states in the country to offer regulated sports betting within in its borders, multiple marketing deals between sportsbooks and in-state pro teams like the Broncos, Rockies, Nuggets and Avalanche have been quite common.
The University of Colorado’s new marketing deal with PointsBet Sportsbook is the first of its kind at the collegiate level. The five-year advertising agreement is worth $1.625 million. The school will also receive $30 for every referral that signs on with PointsBet.
The actual contract is between PointsBet and Buffalo Sports Properties, LLC. This is the university’s private fundraising group. The actual contract was made available through public records.
Payments will be made to CU on a quarterly basis over the next five years. They start at $76,250 in the first year of the deal. The payments move to $86,250 going into the final year of the agreement. Annual costs move from $305,000 in Year 1 to $345,000 in 2025.
This deal is thought to be the first of its kind involving a university in a major conference (Pac-12). The agreement was first announced in early September but the actual terms were not released until they were made public.
According to the NCAA and the Pac-12, there is no issue with marketing and advertising deals between schools and sports betting companies. Certain restrictions may be put into place when it comes to actual college athletes but none were specified.
PointsBet is an Australian-based sports betting company. It has been described as “America’s fastest-growing online bookmaker.” It is also known for the marketing tagline “where the more your bet wins by, the more you win.”
Creating a strong market presence at the collegiate level hits the right target demographic. This is especially true in Colorado as one of the fastest sports betting markets. Legal betting started on May 1 and the state has already become a Top 5 market in the US-based on the monthly handle.
As an added plus, PointsBet customer referrals were worked into the deal. A new betting customer enters a special CU Pointsbet promo code when signing on and making a deposit, In return, the university can receive $30 if all the terms and conditions are met.
The primary benefit for PointsBet is advertising at Colorado sporting events. The main focus is the school’s football stadium. There will also be a pregame segment featuring PointsBet during the official radio broadcast of CU football games.
PointsBet gets one 10-second live mention and three 30-second in-game commercials as part of the advertising package. Other add-ons are exposure on CU ribbon boards and end zone LED screens. There is a permanent field level sign with regular TV exposure.
This package covers regular season football games. Postseason games have an additional cost for the 30-second ads.
PointsBet will also create a designated student fund. The company will contribute $75,000 annually to promote future internships and job placement. It will also be represented at CU job fairs and alumni recruiting events.