In a time of considerable fiscal concern with the postponement of athletic events through 2020, the University of Colorado has pounced on a unique alternative sources of revenue. On Tuesday, the Denver-based sports betting operator PointsBet, announced a five-year partnership with CU.
The deal is just one of a handful of sponsorships between an NCAA Division 1 program and a sports betting corporation. CU Athletic Director Rick George said he was excited about the partnership and feels it will be a great opportunity for student-athletes. PointsBet will also provide support to CU’s Scripps Leadership and Career Development Program.
“We’re committed to providing a world-class experience for our student-athletes, and one of the key components of that is our (Scripps) leadership and career development program, and none of these things are allowable and possible without the generous financial support of our corporate partners, our donors, our fans, and our alumni,” George said on a zoom call Tuesday. “The PointsBet partnership will help ensure we’re able to provide that world-class experience for our student-athletes for years to come.”
The deal has been in discussion for “several months” according to George with Colorado legalizing sports betting on May 1. PointsBet CEO Johnny Aitken leads the Colorado company and was “thrilled to announce this partnership as part of our ongoing quest to become synonymous with Colorado sports betting.”
With PointsBet being a local company, George was equally optimistic about the benefits for CU student-athletes past their playing days. “It can be valuable to our student-athletes that are looking for internships and postgraduate jobs,” he said.
George has been a proponent of legalized sports betting and believes it has the opportunity to improve the integrity of sports. Because sports betting has been a historically controversial activity, George highlighted the need for education on responsible betting.
“(PointsBet) has been viewed as a market leader for its responsible gaming efforts, and the partnership with CU athletics will emphasize and create awareness around responsible gaming and sports betting education,” George said.
It’s still unknown when live sporting events will resume in Boulder, but when they do, PointsBet will be a well-known presence in terms of advertising at both Folsom Field and the CU Events Center.