The US’s first ever college athletics program and sportsbook partnership is no more. A joint statement by the University of Colorado and PointsBet on Wednesday revealed the pair have amicably agreed to terminate their $1.6m partnership three years early.
regulatory pressure ramping up on sports betting marketing
The move comes with regulatory pressure ramping up on sports betting marketing in the US, particularly to those underage. New York, Pennsylvania, and Connecticut all agreed to implement new rules to clamp down on this activity. Meanwhile, the American Gaming Association (AGA) confirmed a responsible marketing code update on Tuesday, bringing a halt to any new college/sportsbook partnerships for its members.
Despite this, Boulder Daily Camera cited a BuffZone source as saying the Uni’s decision to cut ties with the sportsbook was not AGA linked. The split nevertheless ends a five-year deal that began with the 2021-22 season when PointsBet made history by signing the first ever betting deal with a major NCAA Division-I athletics program.
PointsBet will now need to stop any traditional or digital university-linked or sited advertising, having long since discontinued its controversial $30-per-activation sign-up incentive for the university.