Becoming the first professional WNBA team to sign a sports betting deal, Phoenix Mercury’s agreement with Bally’s Corporation has been named as the largest official team sponsorship deal in women sports history. With the agreement’s details not being made public, it was reported by Deadspin that the agreement spans over 15 years and is worth over $66 million.
This deal will also see Bally’s access to the market once Phoenix Mercury acquires a mobile sports betting license. Bally’s also has market access in 14 states and manage 14 casinos in ten of those states.
The Sportsbook is estimated to be 6,300 square feet open daily for people to place their bets on sporting events throughout the year, Sports betting has a huge and this ground-breaking deal with Phoenix Mercury will only see them boost that revenue even further and expand their outreach to new heights.
With women sport’s ever-present rise, sports betting is the way to go and the right step with the goal of market expansion in mind, reported by Forbes the sports industry generated $1 billion in revenue in the US which is estimated to grow up to $6 billion by 2023. Furthermore, if sports betting is legalized throughout the US the industry is predicted to earn $19 billion per year which will be huge for the industry.
This is a new area to explore for Phoenix Mercury and the whole of WNBA, providing will a golden opportunity to grow for the industry. The deal was a result of the Arizona government legalizing sports betting on April 15 2021 and fans await the anticipated Sportsbook for the 2021/22 season.