LSU Reaches Deal with Caesars Sportsbook; 1st SEC School with Gambling Partner

LSU and Caesars Sportsbook announced a new sponsorship agreement Friday, the first of its kind for an SEC school.

The Associated Press' Brett Martel reported the deal is worth "multiple millions" of dollars. He also reported Caesars isn't planning to place any sportsbooks at Tiger Stadium or any other of the university's athletic venues.

The company will, however, place advertising signage at Tiger Stadium, Pete Maravich Assembly Center and Alex Box Stadium.

Colorado was believed to be the first NCAA school to strike a formal partnership with a betting company when it signed a deal with PointsBet in September 2020. Sports Illustrated's Ross Dellenger reported the university was due to receive at least $1.7 million along with $30 for every new customer it referred to PointsBet.

Legislators in Louisiana approved a bill legalizing sports gambling in the state, with Gov. John Bel Edwards signing it into law in June. In August, the state's Gaming Control Board approved a set of emergency rules that could see sports betting begin in mid-September.

The NCAA's new guidelines on name, image and likeness have also opened the door for college athletes to capitalize on commercial deals such as this.

Martel noted it's still unknown whether LSU players who are of gambling age (21 or older) will be able to work in tandem with Caesars, though. The NIL rules prohibit athletes from endorsing products tied directly to alcohol, tobacco or gambling.

With Friday's announcement, Caesars is expanding its footprint in Louisiana. The company purchased the Superdome's naming rights in July.