The Week In Sports Betting: The Sports Betting National Championship Arrives

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Sports Betting National Championship

Maybe it’s just us, but weeks seem to be going by awfully quickly these days.

Following the repeal of the federal ban in May, sports betting stakeholders are printing headlines at an unprecedented pace. Five states have legal industries, and we’ve been keeping a close eye on two more nearing launch.

Let’s start with a late entry from the folks at DraftKings …

Your chance to win the natty

There’s just a whole lot of cash at stake in this one. DraftKings will give away $2.5 million, including $1 million to the winner, of its newly announced Sports Betting National Championship. The event takes place January 11-13 in scenic Jersey City, NJ, whose main draw here is being minutes away from New York City.

The $10,000 buy-in is steep, but so are the rewards. The runner-up lands $350,000 and third place claims $250,000. Payouts down to 25th place will be at least $15,000.

In short, players will get a $5,000 bankroll for a three-day competition and will be limited to one entry. Over the first two days, players must wager at least $1,000 total on any sport. Sunday bets must total at least $2,000 and be placed only on the two NFL Divisional Round playoff games. Biggest bankroll on Sunday night wins.

DraftKings also promises daily fantasy sports players multiple opportunities to qualify for the Sports Betting National Championship through low-dollar DFS qualifiers.

Pennsylvania gaming expanding

Don’t look now, but the Keystone State is inching its way into the spotlight alongside New Jersey. A year after passing its omnibus gaming expansion package, PA sports betting and online gambling are set to begin shortly.

This week:

Timelines for launch remain undetermined for both sports betting and online gambling in the Commonwealth, but it won’t be long. Hollywood’s owner, Penn National Gaming, intends to enter the expanded marketplace as soon as next month.

News from other states

Incidentally, Rhode Island is the seventh state likely to launch sports betting by the end of the year, but there weren’t any new insights to share this week.

Here’s what happened elsewhere in the sports betting union, though:

Nuts and bolts

There were a few noteworthy items from the business side of sports betting worth highlighting, too:

Takes and tidbits

As the honeymoon phase of expanded sports betting begins to wear off a tad, operators are lengthening the leash on innovation. Some interesting trends beginning to materialize, too, both new and old and for better and for worse.

Here’s the rest of the news that we didn’t want to slip through the cracks:

That’s everything that happened this week, ladies and gentlemen. If you want some extra content to-go, the guys on TheLines Podcast spent some time dissecting the news aurally.

Enjoy your weekend, especially if you’re taking the extra day to honor one of the worst navigators in world history. See you sometime around Monday from the Global Gaming Expo in Las Vegas.