F1 renews media rights deal with ESPN, Louisiana’s betting revenue grows thanks to traffic from neighbouring states, and MLB allows teams to sign sponsorship deals with CBD brands. Here’s STATSCORE’s new Review!
- F1 renews media rights deal with ESPN at a 1,500% price hike
- 16 players miss Wimbledon due to ban of athletes from Russia and Belarus
- Louisiana’s betting revenue grows thanks to traffic from neighbouring states
- MLB allows teams to sign sponsorship deals with CBD brands
- NHL sets salary cap at $82.5 million for 2022-23 season
F1 renews media rights deal with ESPN at a 1,500% price hike
Formula 1 will continue to be broadcast on ESPN under a deal lasting until the end o 2025.
According to Sports Business Journal, the broadcaster has agreed to pay around $75-90M per year for the rights. Currently, ESPN pays around $5M per year for the rights, having signed a 3-year/$15M deal in 2019.
The popularity of the sport keeps growing in the United States. F1 found a robust market for its media rights thanks to growing television viewership that has resulted in around 1 million viewers per race. Read more
16 players miss Wimbledon due to ban of athletes from Russia and Belarus
16 tennis players from the top 100s are missing out on the tournament due to the All England Club’s ban of athletes from Russia and Belarus.
For the men’s competition, the missing players are ranked first, eighth, 22nd, 40th and 43rd (four Russians and a Belarusian). For the women’s tournament, those are players ranked sixth, 13th, 20th, 21st, 30th, 35th, 47th, 69th, 78th, 83rd and 87th (eight Russians and three Belarusians). Read more
Louisiana’s betting revenue grows thanks to traffic from neighbouring states
The state has brought in around $12.6 million in tax revenue from sports betting. It seems that a large part of that sum may be coming from the neighbouring states.
Sign up for our weekly newsletter and stay updated!
Western parts of Louisiana have been reported to see high numbers of mobile sports bettors, which may be related to traffic coming from Texas, which has not legalised betting. Read more
MLB allows teams to sign sponsorship deals with CBD brands
Major League Baseball has informed its teams that they would be allowed to sell CBD sponsorships. CBD stands for cannabidiol, which is a chemical compound found naturally in cannabis plants.
CBD market is currently worth up to US$4.9bn and could rise to US$47bn in 2028, according to SBJ.
“We’ve been watching this category for a while and waiting for it to mature to the point where we can get comfortable with it,” MLB Chief Revenue Officer Noah Garden said. “Our fans are very much the kind of customers they are looking for, and we like being first. It’s a good opportunity for us and the clubs.” Read more
NHL sets salary cap at $82.5 million for 2022-23 season
The NHL and NHLPA have decided the salary cap for the 2022-23 season would reach $82.5 million, marking the first increase in three years.
That’s an increase of $1 million over the 2021-22 season. The salary-cap floor for next season has been set at $61 million.
The NHL’s salary cap was stagnant for the last three seasons due to the COVID-19 pandemic’s effects on league revenues. Read more
Sign up for our weekly BETTING INDUSTRY REVIEW to stay updated with the latest trends and key developments in the world of sports data and betting. You can do it by filling out the form below.
PROCESSING OF THE DATA
Pursuant to Article 13.1–13.2 of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (“GDPR”), we would like to inform you as follows:
1) STATSCORE Sp. z o.o. with its registered office in Katowice 40-012 at ul. Dworcowa 2 is the controller of your personal data.
2) Your personal data will be processed for the purposes of the product trial process – in accordance with Article 6.1(a)–(b) of the GDPR.
3) Furnishing the personal data requested by STATSCORE about yourself is voluntary.
4) Your personal data will be retained for the duration of the Product development term but for no less than the retention period required under the law.
5) Your personal data will not be subject to automated decision-making or profiling.
6) You have the right to access the personal data held about you and to have your data rectified or erased or to restrict or to object to the processing as well as the right to data portability. If your personal data is processed under Article 6.1(a) of the GDPR (i.e. processed on the basis of the consent you have given to the processing), you may withdraw your consent at any time without any impact on the lawfulness of the processing carried out before your consent was withdrawn.
7) You may lodge a complaint in respect of the processing of the above data to the President of the Office for Personal Data Protection (PUODO).