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CU Buffs-PointsBet enter into historic deal

On Tuesday it was announced that the University of Colorado and PointsBet, a global sportsbook operator, had signed a five-year corporate sponsorship agreement.

The exclusive partnership is the first ever between a sports betting operator and a major NCAA Division-I athletics program located outside the state of Nevada. It also is believed to be the first with a Power-5 conference school.

The deal couldn’t come at a better time for a CU athletics department that is dealing with financial loses due to the COVID-19 pandemic which has at least temporarily shutdown the PAC-12 football season.

“We’re thrilled to have PointsBet as a partner and for the benefits this sponsorship will provide for our student-athletes for years to come. We are impressed with their commitment to raising awareness around responsible gaming.  And we’re particularly excited whenever we can partner with sponsors who call Colorado home.”

CU Athletic Director Rick George said.

Who is PointsBet?

PointsBet was originally founded in Australia and is a sportsbook operator that prides itself on having the quickest and most user-friendly app in the industry.

Not only are they growing rapidly within the U.S., but in the Colorado market specifically. Earlier this year PointsBet entered into an agreement with Kroenke Sports & Entertainment making them the exclusive betting partner of the Denver Nuggets, Colorado Avalanche and Colorado Mammoth, along with Pepsi Center as a whole.

On top of that PointsBet’s U.S.-based headquarters is located in downtown Denver.

“As a tech company at heart that is proud to call the state of Colorado home, we are thrilled to announce this partnership as part of our ongoing quest to become synonymous with Colorado sports betting. Since announcing our plans for a new headquarters in Denver, we’ve consistently stated our desire to work closely with the state’s first-class university system and rich pool of tech talent.  It is an honor to become a partner of the Colorado Buffaloes, where we look forward to bolstering general sports betting knowledge and responsible gaming awareness while recruiting some of the best and brightest minds to help install a foundation for prolonged success.”

PointsBet USA CEO Johnny Aitken said of the agreement.

PointsBet does not currently have a sportsbook app available to the public in Colorado, but does plan on releasing it before the end of this year.

Terms of deal not disclosed

While George did not disclose the terms of the partnership the funds from the deal have been earmarked for the CU athletic department’s Scripps Leadership and Career Development Program.

“This is going to benefit our student-athletes in the areas of leadership and career development. And that’s an important part of what we’re doing. To be able to provide the support, internship opportunities…they’re a technology company, and we’re a school that has a tremendous amount of students, and student-athletes, in those areas. We think there’s a real positive in that regard relative to this partnership. We’re pretty excited about what that will do for us.”

George said.

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