30-second summary
- Madison Square Garden Company files a trademark application for sports betting subsidiary
- The company is currently thriving in the esports space
- MSG would be an all-encompassing sports betting brand
- No indication as to whether or MSG would offer sports betting at physical facilities
Madison Square Garden sports betting plans
The parent company of Madison Square Garden in New York is planning to dive into the sports betting world. The company has applied to trademark “MSG” for “downloadable mobile applications for sports wagering, for organizing, arranging, conducting, and participating in sports wagering tournaments, for providing information related to sports betting,” according to its filing with the US Patent and Trademark Office (PTO).
The Company has numerous sporting affiliations, along with a significant presence in the up and coming esports industry.
A spokesperson for the Madison Square Garden Company said: “…we’re very interested in the opportunities legalized sports gaming could bring, and recognize that we have a brand, in MSG, that is recognizable around the world for its connection to iconic sports.”
It appears that MSG plans to offer everything from fantasy sports to broadcasts of esports and sports, as well as analysis and previews, etc. The company will also be looking to become a leader in producing digital content that will go hand in hand with its sports betting operation.
Positive moves being made
There has been no indication as to whether MSG ultimately plans to have physical sports betting facilities or if it will be offering these services at Madison Square Garden in New York.
One of the positive moves the company has made in the esports space is to embrace the esports world, particularly that of NBA 2K. The New York Knicks basketball team is one of the parties involved in one of the more successful esports leagues.
This NBA 2K league is being welcomed by the NBA Commissioner Adam Silver, which is a huge endorsement. It is looking to expand its presence in this area. There will, of course, need to be a provision in place for this idea to take off. Sports betting is currently not legal in New York, for example. Therefore, the company would not be able to offer any physical or online sports betting in the state until legislation is approved.
Similar moves elsewhere
There are some positive signs that sports betting could soon become legal in the state. A lot of consideration has been given to the matter in New York and it seems as if legalization will come in 2019 or 2020.
In Washington, DC, where there is a strong push for legal sports betting, the main facilities for sports betting operations will be in sporting arenas, such as Nationals Park, the venue for the Washington Nationals MLB team, and the Capital One Arena, where the NHL’s Washington Capitals NHL and the NBA’s Washington Wizard play. Many believe that having on-site facilities will help increase fan engagement in the long run.
Being one of the most iconic names in sports, Madison Square Garden certainly has a lot of future potential in the sports betting space.
