Team Owners Invests in Sports Betting Network

The owners of the NFL’s Miami Dolphins, the MLB’s Chicago Cubs, the NBA’s Philadelphia 76ers, and the NHL’s New Jersey Devils have invested in a sports betting network and gambling startup. Action Network is another move by league owners to capitalize on the growing trend of legal sports betting.

NFL owners long opposed the spread of legal sports gambling, citing fears that it would jeopardize the integrity of its $15 billion enterprise. Following a Supreme Court decision last year to strike down the federal ban, the league’s stance has softened.

Over the last 12 months, the NFL has signed its first-ever casino partner, and a wider deal with Sportradar AG to distribute its data to gambling operators in the U.S. and abroad. The NFL has been an investor in Sportradar since 2015.

In that span, individual owners have also made moves. Team such as the Dallas Cowboys and New York Jets have signed their own deals with casinos and sports betting operators. Kraft Group, which owns the New England Patriots, was an early investor in DraftKings, which is now a licensed operator.

More on the new sports betting network at Yogo Net.