- Sports Betting
- NJ Sports Betting
- PA Sports Betting
- US Betting
- LSR Podcast
We’re approaching the six-month anniversary of the day the US Supreme Court struck down the federal ban on sports betting. Did you pick out a gift for Justice Samuel Alito yet?
Although speculating on sports is as old as money, much has changed since May 14. Professional sports leagues and teams are suddenly warming up to the emerging market, spawning an escalation in partnerships between the industries.
That’s where we begin our Friday recap once again, right in that overlap between sports and sports gambling …
For the second consecutive week, Monday led with news of a big NHL gambling partnership. The same league that tried to curtail legal betting in Las Vegas last year — the same one that said hockey “doesn’t lend itself to gambling” — has been among the most willing to accept money from casinos and sportsbooks.
The two are now official partners across both sports betting and daily fantasy sports, though only the latter is exclusive. Details on implementation are somewhat vague, but FanDuel will run promotions for special NHL events, like the All-Star Game and Winter Classic.
Here’s a fun nugget: The NHL still has an equity stake in DraftKings, the primary competitor of its new partner. In a statement to LSR, DraftKings confirmed that the relationship remains unchanged.
FanDuel also announced a deal with the New Jersey Devils that includes an on-ice branding presence at Prudential Center. The Devils have additional gambling partnerships with both Caesars and William Hill.
The US midterm elections were the big news this week in the mainstream, and they’ll leave a lasting imprint on the gambling landscape. Related measures appeared as ballot proposals in several states, including a big step for one in the South.
On Tuesday, Arkansas became the newest state to legalize sports betting. A majority — 54 percent — of the voting public said yes to Issue 4, which creates constitutional authorization at four locations. Regulators are required to begin fielding applications by June of next year, so a 2019 launch seems possible.
Louisiana voters had a DFS measure on their ballot at the parish level (comparable to counties in most states). Of the 64 parishes, 47 approved legalizing fantasy sports, enough to cover more than 90 percent of the state’s population.
Two measures tied to gambling also passed in Florida:
Here’s the full rundown of ballot measures in those three states, plus a handful of others. Get your bingo blotters ready, Missouri.
This week also falls within the Q3 reporting window for publicly traded gambling companies. Earnings calls often shed a great deal of light on plans and performance. That’s certainly the case this quarter, with US sports betting basking in the spotlight for groups based here and abroad.
Here is a handful of things that stuck out in the reports:
Given all of the political and corporate news this week, we’ll bypass the scenic tour through NJ sports betting and divert our anxious gaze toward the PA sports betting industry in incubation. We were even going to mention these new kiosks from Kambi, but we’ll skip those, too.
Let’s lump the rest of the news crumbs together and call it a week, huh?
And lest we get caught up in the fun and practicality of legal sports betting and its intrinsic benefits to other industries, remember that early-adopting states and casinos are the big winners so far. New Jersey has already collected more than $4 million in taxes from its new industry, and Atlantic City’s credit rating is suddenly rebounding.
That’s all they wrote this week, but you can get the audio version of the news via TheLines Podcast. This week’s episode is the 29th in the series and easily the best to date. Maybe. Alright, it’s not the worst.
Have a good weekend, y’all.