NBA's Indiana Pacers, PointsBet sportsbook agree to multiyear partnership

The Indiana Pacers and PointsBet have teamed up on a new multiyear partnership.

On Tuesday, the sportsbook operator and one of the NBA’s top franchises agreed to have the PointsBet brand displayed on the “apron,” which is the out-of-bounds part of the basketball court between the baseline and the team bench. This will be the first time a sports-betting company will be presented in that space.

PointsBet will appear throughout Indiana’s Banker Life Fieldhouse, including on phone charging stations and along the scorer’s table. The Pacers also plan on showcasing PointsBet on their digital platforms as well.

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“This corporate partnership with PointsBet represents a real win for both companies,” Rick Fuson, the Pacers Sports and Entertainment president and COO, said. “We look forward to welcoming them in as a very visible brand at the Fieldhouse and through our various channels.”

PointsBet is the first sportsbook to land a deal with both an MLB team -- the Detroit Tigers -- as well as an NBA team.

As sportsbooks and professional sports teams continue to agree to partnerships, Chris Altruda, a sports-betting industry expert at Pennbets.com, says it is “a small step forward in the legitimacy of legalized sports betting in the United States as a whole.”

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“For Indiana, which has quickly developed a mature sports betting market via remote registration, getting visible signage on the arena floor and the scorer's table in addition to a digital presence will help raise PointsBet's profile in the Indianapolis market -- the largest one in the state of Indiana,” Altruda told FOX Business.

Altruda added: “States that have legalized sports betting and professional teams the opportunity to team with sportsbooks for enhanced marketing opportunities to target audiences they know well, have a high retention rate with and offer growth potential.”

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The Denver Broncos of the NFL is involved with three different sportsbooks, and recently William Hill opened a retail sportsbook in Capital One Arena in Washington, D.C., which has on-site access to the NBA’s Washington Wizards and NHL’s Washington Capitals as well as the WNBA’s Washington Mystics since they fall under the Monumental Sports and Entertainment banner.

“It shows that sportsbook operators are putting their reputations on the line with each wager placed in a state where sports betting is available,” Altruda said. “It also means they continue to move closer to mainstream name recognition with the public.”