The Future of College Football & Online Gambling: A Multi-Billion Dollar Opportunity
College football, a billion-dollar industry, is becoming an even more enticing prospect for online gambling companies. Explore the expanding world of college football betting and its multi-billion-dollar potential.
College football could be worth billions of dollars to online gambling companies. Image Source: Texassports.com
The Evolving College Football Landscape
College football has been in the news a lot lately, with conferences realigning, multi-billion-dollar media rights deals, and coaching contract extensions that would make their NFL counterparts jealous. But there is another industry that is eyeing college football and its potential – the online gambling industry.
The College Football Playoff (CFP) is the only Division I FBS football that does not have a yearly championship event sanctioned by the NCAA. Instead, the CFP was introduced in 2014. The idea was to replace algorithms with a 13-member committee to select and seed four teams to take part in the CFP.
This opened the championship window to four teams (instead of two) and increased revenue for everyone along the way. The very first CFP National Championship was won by No. 4 seed Ohio State, proving that lower-seeded teams could win national championships if given the opportunity.
But more importantly, this drastically increased revenue across the board. For example, ESPN’s current deal with the CFP pays about $470 million per year, and they also have separate contracts with the Rose, Sugar, and Orange bowls that add up to more than $600 million annually. With that kind of money on the table, it is no surprise that the CFP will expand from four to twelve teams starting in 2024.
This means there will be more games to bet on, and with more games, there will be more opportunities for online gambling companies to make money. And as college football continues to grow, it is expected that the number of people betting on the games will increase as well. With sports betting now legalized in many states, online gambling companies like BetRivers can offer more betting options, which means more revenue.
Power 5 Conference Bonanza
The expansion of the CFP also guarantees a playoff berth to each Power 5 champion, which includes the Big Ten, Big 12, ACC, SEC, and Pac-12 conferences. These conferences are known for their passionate fan bases, which means more people are likely to place bets on their favorite teams.
In addition, the new format will include six at-large bids, which gives more teams a chance to make the playoffs. This means more teams, more games, and more betting options.
Online gambling companies are also using technology to make betting on college football more accessible than ever before. Mobile apps allow people to place bets from their smartphones, which means that they can bet on games from anywhere. This convenience has made sports betting more popular than ever before, and online gambling companies are capitalizing on this trend.
College football could be worth billions of dollars to online gambling sites. The expansion of the CFP, the guaranteed playoff berths for Power 5 conference champions, and the increase in betting options are all factors that will contribute to the growth of the industry.
With technology making sports betting more accessible than ever before, online gambling companies are well-positioned to take advantage of this opportunity. As college football continues to grow, it is expected that the number of people betting on the games will increase, which means that the industry will continue to grow as well.