Manly Sea Eagles chairman Scott Penn predicts sports betting will be the NRL's new cash cow.

After the Federal Court recently ruled Racing NSW would receive 1.5 per cent of every dollar bet on the sport, NRL teams may feel buoyed to push their case.

This ruling would see a return of between $50-$60 million a year put back into racing and, while TAB Sportsbet and Betfair can seek leave to appeal to the High Court, the ruling is not likely to be overturned.

The decision has given NRL teams hope that their sport may follow suit.

And with rugby league a favourite with the punters Penn predicts sports betting will ultimately become the second largest revenue earner to television rights for NRL teams.

"Given rugby league is the second most wagered on sport we have high hopes that rugby league will receive their fair share in the future," Penn said in statement on Monday.

"This would be a significant and a great financial boost to all clubs."

Penn voiced his predictions when announcing the Sea Eagles' new deal with sports betting agency Centrebet worth almost $1 million.

The company's name will be on the back of the maroon and white jersey for the next two seasons.

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