Welcome to Monday, everyone. Sports betting news aside, we at LSR hope everyone remains safe and healthy during these times in America.
It’s starting to look like the sports we love might actually return at some point this summer. Both the NBA and NHL have floated plans that would see the leagues returning in either July or August.
That’s great for the sports betting industry, which expectedly flailed a bit over these last three. May’s upcoming sports betting revenue figures should be somewhat positive given the return of NASCAR, Bundesliga soccer and The Match 2 in golf.
The LSR Podcast discussed the importance of The Match 2 to sports betting operators and sports fans in general in the latest episode.
As always, follow @LSPReport on Twitter to catch all of our breaking news updates. If you already are following us, you would have seen us break last week’s biggest sports betting story.
Top sports betting news: California on the radar
Once assumed to be out-of-play for 2020, California roared back to life with new sports betting bills that appear to be a decent compromise for the state’s gaming industry.
Sen. Bill Dodd and Assemblyman Adam Gray filled out their placeholder bills filed last year with intriguing details. Only tribal casinos and racetracks would get access to California sports betting, but cardrooms would be appeased by keeping their current operations with the end of lawsuit threats from the tribal casinos.
The tribal casinos would also get ball and dice games as a sweetener.
Retail sports betting revenue would be taxed at 10%, with online taxed 15%. That would likely amount to a proverbial drop in the bucket to California’s $50 billion budget deficit because of the coronavirus pandemic but legislators are citing the pandemic an incentive for their push.
Still, any additional revenue should be welcomed, which suggests this initiative might be coming at the best possible time.
Nevada sports betting figures unknown for April
For the first time, Nevada sports betting results were not disclosed in the state’s monthly breakdown of gambling figures.
That’s because of statutes that prohibit gaming regulators from disclosing any information about one specific operator.
The state only reported activity from online sports betting and online poker with all of the casinos still closed. And while there are two online poker operators licensed, only the World Series of Poker reported activity in April. So subtracting sports betting’s figures from the total would give WSOP’s results.
We should get a better idea of sports betting results for the second quarter when June’s results are reported at the end of July.
Hopefully by then, we’ll also see regulations updated to allow full mobile funding for sports betting accounts. Regulators will hold a workshop on those potential changes later this month.
DC finally launches meh sports betting product
Intralot learned nothing from the backlash it received over ridiculously juiced odds in Montana when the state launched sports betting in March. It brought those same pricing principles to the nation’s capital to absolutely no one’s delight.
Fortunately for DC’s hopeful bettors, there will be other options.
Gambet DC will be the only online option available throughout the jurisdiction but there will be competition. FanDuel Sportsbook, William Hill, and US newcomer Newgioco all have plans to launch retail and geofenced mobile operations.
Louisiana moves forward, Ohio taking steps
California wasn’t the only state to make waves last week. Louisiana voters should officially have the chance to voice support for sports betting on this year’s ballot.
Each of Louisiana’s 64 parishes could get to choose for itself whether sports betting is legalized there. That means if a parish majority declines sports betting, it only rules out that parish. Other parishes would still be allowed to offer sports betting if its voters approve.
Ohio‘s sports betting future also took some positive steps after H 194 passed the House last week and now moves to the Senate.
Rep. Dave Greenspan said negotiations with the Senate will take place over the summer. That way, when the legislature returns in early fall, the bill should have time to get to the governor’s desk by the end of the year, he said.