The Week In Sports Betting: Solid Start For New Jersey, DraftKings Looking For Big Bucks

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New Jersey Sports Betting

Sports betting is no longer illegal at the federal level, thanks to the US Supreme Court repealing PASPA in May. In addition to Nevada, gambling institutions in the great states of New Jersey and Delaware also are accepting legal wagers. Both began doing so in June. More states will follow suit in the coming months.

Any questions? Good. We must move quickly.

If you’re new around here, we like to spend our Fridays leisurely recapping the sports betting headlines from the week. We typically employ considerable wit and charm to make the summary a little easier for you, dear reader, to trudge through it.

We don’t have time to mess around this week. There’s too much, so let’s go.

New Jersey sports betting stuff

Good grief — heavy news out of New Jersey. I mean, that’s been the case for months now, but there was an extra surge around NJ sports betting this week in particular.

Meanwhile, the two new properties are off to a rough start in the feedback department. Early customer reviews for both the Ocean Resort Casino and Hard Rock Atlantic City are not great.

Getting max value from sports betting

The finance sector generated the bulk of the headlines outside of NJ this week. New funding and acquisitions provided both real and imaginary valuations for a couple of large companies involved in sports betting.

Welcome to two new sports betting challengers

If you’re keeping score, we’re up to nine states that have some form of sports betting legislation and three that are actively accepting wagers. This week, two new ones took their first baby steps down the long and winding road toward legalization:

A reminder on the countdown to launch for other states with legal sports betting:

Connecticut and New York round out the list, each with a partial law in place and no immediate timeline for launch.

Elsewhere around the industry …

From time to time, we do step away from legislative hearings and earnings calls to talk about the actual activity of placing wagers on sporting events. The betting industry spawned some of the more interesting headlines this week.

Takes & tidbits

Even with all of that stuff, there are still a few things worth talking about that don’t fit anywhere. A lot of things, in fact. Too many things.

Sports & data

What do World War I, the Chicago grain industry and the Kansas phone book have in common? They’re all related to sports betting, of course. More specifically, they’re related to court battles centered on intellectual property and copyright, a keystone issue for sports betting.

Sports law smart guy John Holden is a regular contributor here, and he’s spent the last few weeks exploring case law relevant to sports betting data. His three-part series is a great read if you’re curious about the legal backdrop.

There, that should be plenty to tide you over for a couple days. Have a happy weekend.