Happy Monday, everyone, and a heartfelt congratulations to the great state of Kansas … er, Missouri.
If you’re, um, “not feeling well” and can’t go to work after Super Bowl Sunday, sorry, but we can’t get you out of it. Hopefully, this recap of the news in sports betting will ease the struggle.
While it was quite a busy week for sports betting news, clearly one story took the spotlight.
Penn National‘s acquisition of a minority stake in Barstool Sports captured the attention of the sports betting world.
There were plenty of other significant stories as well, as detailed at Legal Sports Report all week. Be sure to follow us on Twitter and subscribe to the LSR Podcast to stay current on the latest news.
Penn National finds media partner in Barstool
Penn National stopped the sports betting news cycle after announcing it finally landed the media partner and sports betting brand it sought since PASPA was overturned in May 2018.
Barstool Sports boasts 66 million monthly unique users that will now get funneled directly to Penn National’s sports betting and iGaming brands for up to 40 years. The 36% stake can be increased to 50% in three years, with Penn having the option to eventually buy all of Barstool.
The first Barstool Sportsbook app won’t go live until August, but retail locations could start rolling out early this year. First up will be a sportsbook rebranding at Charles Town casino in West Virginia as well as a new book at Penn’s Greektown in Detroit.
Super Bowl betting expected to hit new record
American bettors will place $6.8 billion worth of Super Bowl bets this year for a new record, according to the American Gaming Association.
The research, completed by Morning Consult, found 26 million bettors will bet this year, up 3 million from last year.
Both the expected handle and bettors include illegal bets as well. While the survey didn’t break down how much would be bet legally, PlayUSA.com forecasts $400 million in legal Super Bowl bets.
Elsewhere, GeoComply provided information on where online Super Bowl bets are coming from.
Nevada sets new annual handle record
For the 10th straight year, Nevada sports betting handle set a new annual record, this time with $5.3 billion in bets.
Last year’s total was 6.2% higher than 2018’s record. Revenue also set a new record at $329.1 million.
There’s no report of mobile sports betting handle, though 2018’s share was estimated at 48%. Michael Lawton, with the Nevada Gaming Control Board, said mobile share likely increased over 2018.
No more guessing games from here on out; however, Lawton confirmed Nevada would begin breaking out mobile sports betting handle in January 2020.
Delaware North re-entering WV sports betting
After nearly 11 months of no wagering following a false start, Delaware North will again launch sports betting in West Virginia.
The new sports betting operations come thanks to IGT’s technology and Genius Sports‘ risk management. No launch date is available, but state lottery director John Myers said he expects Delaware North’s return soon.
Delaware North’s last attempt at WV sports betting ended in under four months. Previous sports betting provider Miomni had a dispute with one of its third-party suppliers EnterG, which led to Delaware North pulling sports betting.
DraftKings Sportsbook and FanDuel Sportsbook both launched right before the NFL season to bring mobile betting back to West Virginia. BetMGM from Roar Digital launched just last week as the state’s third mobile book.
Betfred US COO details US plans
LSR spoke to Betfred US COO Bryan Bennett to talk about the company’s first push into the United States, which began last week with a retail sportsbook in Iowa.
Online will launch this month with March Madness serving as the first big push for sign-ups. Iowa requires in-person registration until next year.
Bennett said Betfred US should be live in four states by the end of the year. It currently has two more agreements confirmed in Pennsylvania and Colorado.
