Philadelphia 76ers, Parx Casino Announce Deal That Could Really Add up For Online Bettors

Posted on: October 1, 2019, 12:27h. 

Last updated on: October 1, 2019, 01:19h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

The National Basketball Assn’s Philadelphia 76ers and the Parx Casino, located just north of the City of Brotherly Love, announced a deal Tuesday aimed at driving engagement among users of the gaming company’s online and mobile betting platforms.

Parx Casino is giving 76ers fans a chance to make some bank this basketball season. (Image: CBS Sports)

Under the terms of a multi-year agreement between the franchise and the casino operator, Parx will become the “Official Winning Partner of the Philadelphia 76ers.” The Sixers already have an official casino sponsorship deal with Caesars Entertainment, the operator of Harrah’s Philadelphia.

Parx Casino will run the “Win For All” promotion that will give users of the company’s mobile and online wagering offerings a $25 bonus for each 76ers win up to the 25th game of the year. After that, the dollar amount of the bonus will correspond with the win number reached by the team. For example, when the Sixers win their 40th game of the year, Parx players would get a $40 free play bonus.

The ‘Win for All’ promotion provides a creative avenue for fans to interact with our first ‘Official Winning Partner,’” said Sixers President Chris Heck in a statement.

To be eligible for the promotion and subsequent bonuses, players must reside within 150 miles of Philadelphia.

Could Be A Lot Of Cash

Assuming the 76ers live up to or surpass expectations this season, the Parx promotion could end up doling out a lot of cash to bettors. After making the Eastern Conference semi-finals last year, the Sixers are forecast to be one of top teams in the East, particularly after the departure of Kawhi Leonard to the Los Angeles Clippers from the defending champion Toronto Raptors.

The Westgate SuperBook in Las Vegas currently offers a season win total over/under of 55 on the 76ers, the second-highest total in the NBA, behind only the Milwaukee Bucks at 58. Philadelphia won 51 games in the 2018-19 season.

Assuming that win total is matched, Parx players would receive $1,840 in bonuses over the course of the season. The statement does not mention whether or not the “Win For All” program will run through the playoffs, or if it’s confined to the regular season, which spans 82 games.

The 76ers tip-off the 2019-20 season on Wednesday, Oct. 20 against the Boston Celtics at the Wells Fargo Center in Philadelphia.

Though the end of the 2019 calendar year, the Sixers play 18 home games and have 18 road tilts.

Seizing The Moment

Sports betting is taking off in Pennsylvania, and Greenwood Gaming, the parent company of Parx, is looking to take advantage of that opportunity. The company recently opened a 7,400-square-foot sportsbook at Parx, with room for 420 fans.

As part of the “Win For All” promotion with the team, Parx will hold six dedicated “76ers Nights” throughout the season.

For Keystone State operators like Greenwood Gaming, capturing a bigger slice of the mobile gaming market is a top priority. Data indicate that market is growing in Pennsylvania, but still has plenty of work to do to get on par with neighboring New Jersey, where roughly eight of every 10 sports bets are place via computers or smartphones.