After a very long search, William Hill has finally found a sports wagering partner in the United States. After there were months of speculation, it was recently announced that William Hill and CBS Sports would enter into a “strategic partnership.”
In the new deal between the reputable sportsbook operator and the media sports giant, William Hill is now the official sportsbook, as well as a provider of data, for CBS Sports and all of its platforms.
The partnership between the two is set to start in March, and it will be fully integrated by the time when this year’s NFL fantasy football season begins. Ulrik Bengtsson is the CEO of William Hill PLC, and he stated, “Becoming the official sports betting provider to CBS is another major step forward for William Hill in our US expansion.”
He went onto say, “We are already a market leader with leading access, a bespoke technology platform, and the most experienced US team. Now we have exclusive media, branding, and promotional rights across CBS’s leading digital sports properties to take the William Hill brand further and faster in the US.”
Details of the Deal
In terms of the new deal, William Hill will have exclusive rights to promote its sports wagering brand across all digital properties of CBS Sports. William Hill has come out and said it will give “highly efficient customer acquisition.” On television, CBS programming will use the data, odds, and markets provided by William Hill.
Joe Asher is the CEO of William Hill US, and he recently stated, “CBS Sports, similar to William Hill, has a longstanding history of connecting fans directly to the biggest events and most iconic moments in sports.”
He also said, “We are excited about this partnership, with assets including mass-reach digital content products, one of the largest fantasy sports databases and platforms in the world, and leading sports television programming, which will allow us to expand the William Hill brand across America quickly and efficiently.”
CBS Sports is a Giant
The second biggest sports property in the United States is CBS Sports Digital, and it has in excess of 80 million users each month through its websites and applications. CBS is no stranger to the sports betting market in the US through its SportsLine product.
SportsLine is a platform that customers can subscribe to for picks for games and predictions.
Other assets that the media giant has included:
- 24/7 streaming network CBS Sports HQ
- CBS Sports Fantasy
- CBS Sports apps
- 24/7 Sports
Jeffrey Gerttula is the CBS Sports Digital executive vice president and general manager, and he stated that the partnership with William Hill would likely push CBS Sports to up the ante when it comes to investing money in content that relates to sports wagering.
He stated, “The power of our distribution, combined with the strength of our brands and the expertise of William Hill, has us well-positioned to tap into the explosive growth of the legal sports betting industry in the US.”
Partnership Not A Slam Dunk For Success
The William Hill and CBS Sports deal is just the latest between a sportsbook operator and a media giant based in the US. Just a few of the other big ones are MGM and Yahoo, The Stars Group and Fox Sports, and TheScore and Barstool Sports.
In the week right after the deal was announced, William Hill’s stock rose five percent. Still, the deals between the operators and media outlets are very new and there is not enough data to show if they are successful.
There are risks that are involved, with one of the main ones being the cost that the sportsbook operator has to pay. In terms of the William Hill and CBS Sports deal, there have not been any financial details that have been disclosed.
Because of that, it is not known if the deal is based on incentives or revenue sharing.
The deal may be good for William Hill in the future partnering up with CBS Sports, but it broke even in 2019 and may not be profitable in 2020 with what it had to pay to get the deal with CBS done. NBC is still on the table for operators to go for, as it remains unaligned.
However, it has been active in talks with sportsbook operators, and there are already some partners on the local level that have integrated sports wagering content in their programming.