LAS VEGAS (KTNV) — A major deal has been reached involving a Las Vegas-based sports betting group and college football. Caesars Entertainment has signed a multi-year partnership with The Fiesta Bowl in Arizona.
This is the first partnership between a college bowl game and a company that specializes in sports betting, and it reveals college athletics is embracing sports betting.
As part of the deal, Caesars will host fan lounges at the Fiesta Bowl in suburban Glendale and at the Guaranteed Rate Bowl at Chase Field in downtown Phoenix. Both of those games will be played around New Year's Day. Sports betting is set to become legal in Arizona on September 9.
Experts say the partnership is a sign that legal sports gambling is becoming more accepted. Financial analyst Steve Budin says it's a deal that's good for both sides.
"This is a big first step in allowing gaming companies into college sports via online gaming. This makes perfect sense from the Fiesta Bowl's perspective, and it makes perfect sense from Caesars' perspective. You're lining up people who would normally bet on the game. Now they can do it easily through a phone app or an iPad," said Budin.
Fans will be able to place bets at a sportsbook right next to Chase Field or anywhere in Arizona on the Caesars Sportsbook app.