University of Colorado strikes historic deal with PointsBet

9/8/2020 5:42:22 PM EST

The University of Colorado on Tuesday became the first NCAA school to sign an official sports betting partner, announcing a five-year corporate sponsorship agreement with PointsBet.

PointsBet is building its North American headquarters in Denver, which is a short distance removed from the Boulder-based university.

Learfield IMG College, the media rights holder of University of Colorado Athletics, negotiated the deal which covers sports betting, fantasy sports, casino games and free-to-play contests.

"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," Colorado athletic director Rick George said. "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."

The deal comes after the state of Colorado legalized sports betting in May.

The arrangement will allow PointsBet to advertise at Colorado's football field and basketball arena, as well as get placement on radio broadcasts and other media. The deal will also see PointsBet provide support to Colorado's Scripps Leadership and Career Development Program.

"This isn't a deal just to get PR, this is a long-term view for both parties, and both parties had to get very comfortable with one another," CEO of PointsBet's U.S. business Johnny Aitken said, per Sportico. "It is centered around education and those career pathways, and being in-state, the trust factor is heightened because we're just miles away, not a plane flight away."

PointsBet announced a similar sponsorship deal earlier this month with Kroenke Sports & Entertainment, making it the official and exclusive partner of the NBA's Denver Nuggets, NHL's Colorado Avalanche as well as Colorado Mammoth of the National Lacrosse League and their home arena, Pepsi Center.

--Field Level Media

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