Sports betting operator PointsBet USA has halted its collaboration with the University of Colorado at Boulder off the back of significant media scrutiny.
The five-year deal was originally announced in September 2020, with the firm being named as the official partner of the school’s athletic department and was featured at Folsom Field where the Colorado Buffalos football team played as well as in the TV and radio broadcasts of the games.
There was also an affiliate-like deal with the alumni association, which received $30 referral fees for new PointsBet Sportsbook sign-ups.
A joint statement from PointsBet and UC-Boulder said: “PointsBet and the University of Colorado have decided it is mutually beneficial to end their partnership at this time. Both parties are thankful for the joint efforts throughout the relationship and wish the best for each organization going forward.”
The news comes as a proposed law to prohibit collegiate sports betting deals in Maryland advanced out of the House and currently lies in wait with the Senate.
It also follows the American Gaming Association issuing an update to its marketing code of conduct requirements that expressly prohibit sportsbooks operators from partnering with universities. PointsBet is not an AGA member, but the measure is just the latest indication the tide is turning on these sorts of partnerships.