One of the collaborations to fall through is that between PointsBet, a regulated sports betting operator, and the University of Colorado.
Sports Betting Promotions on School Grounds No More
The alliance had to be stopped short in light of the American Gaming Association’s (AGA) update to its Responsible Marketing Code for Sports Wagering which will now not allow colleges to team up with sportsbooks for the purposes of distributing sports gambling products.
The only case in which such partnerships may carry on is if they exclusively focus on safer and responsible gambling messages. Still, the partners are splitting into amicable terms:
PointsBet and the University of Colorado have decided it is mutually beneficial to end their partnership at this time.
Statement by PointsBet/University of Colorado
Both the University of Colorado and PointsBet were thankful for the opportunity to work together. This is ending a five-year partnership that was originally signed in 2020 and was supposed to last throughout the 2025-26 school year. The university was receiving a $30 referral fee for each customer PointsBet was able to secure with the promotional code issued by the university.
The promo codes however were highly controversial and they were finally struck down in January 2023, leaving the relationship more or less in tethers. The recent announcement by AGA has made it even clearer that the partnership was not designed on the best of terms and without the opportunity to convert paying customers, there was little to actually offer back to either party.
First to Enter Sports Betting Partnership, First to Exit It
The partnership though in itself was interesting from the start. The University of Colorado was the first Power 5, a college division, school to sign up a team-up with a sports betting company in the fast-developing market. The University of Colorado is only one of five schools in the United States to have signed similar partnerships.
These are likely to wind down or be stopped short unless some brands choose to promote responsible gambling messages exclusives in exchange for having their logos and signage visible on school grounds.