The Week In Sports Betting News: Don’t Get Too Excited By Florida Bill

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Happy Monday and 2021, everyone. Now that it’s January, we’re officially on the clock for best sports betting news on new market launches.

Both Michigan and Virginia are expected to begin online sports betting this month. While we already know who will launch in Michigan, we still don’t know all of the 25 companies that applied in Virginia. Only about half will get a license and have a chance to launch in time for Super Bowl betting.

Make sure to follow @LSPReport on Twitter for the latest on those states and any other breaking industry news. The LSR Podcast is another easy way to get caught up with the top stories of each week.

Finally, remember to check out our predictions for sports betting in 2021. And if for some weird reason you already miss 2020, check out our sports betting year in review.

Top sports betting news: Florida bill dead already?

Sen. Jeff Brandes will again attempt to legalize Florida sports betting through the lottery. Just like last year’s attempt, it’s not expected to get far.

SB 392 is similar to his 2020 attempt and does not include the Seminole Indians. That’s an issue for the Seminole, since they believe they have exclusivity over casino gaming in the state, which they contend includes sports betting.

There was no indication from Sen. President Wilton Simpson‘s office that the state and the Seminole were any closer on the issue when reached last month:

“President Simpson believes it is important to look at opportunities to maximize revenue for the State of Florida,” a spokesperson said. “Discussions continue regarding what is available to us on the private side and also with the Tribe. At this time, the Senate is not at a point where we are prepared to introduce legislation related to these issues.”

Iowa goes remote

Mobile sports betting in Iowa finally freed itself from the shackles of in-person registration Friday.

There are only eight operators in the state, which first launched in August 2019. Now that remote registration is possible, more operators are looking to enter the market, according to Iowa Racing and Gaming Commission Administrator Brian Ohorilko.

Sure enough, BetMGM announced it went live in Iowa Monday morning,

The additional books and new customers could help Iowa finally join the $100 million monthly handle club in the near future. Its best month came in November with $87.2 million bet across the state.

Only sports betting in Illinois and Nevada have in-person registration laws on the books. Illinois’ restriction is temporary and currently suspended.

Nevada sports betting drags US across $3B in November

US sports betting handle officially topped the $3 billion monthly mark when Nevada reported $609.4 million in handle for the month.

We should know just how much was bet for November by mid-January since Illinois reports a month behind other states.

Nevada’s sportsbooks had a great November with $61.8 million in sports betting revenue for a 10.1% hold. The vast majority of both handle ($501.8 million) and revenue ($56 million) came from football.

Flutter closes on FanDuel; Caesars-William Hill closer

Flutter officially owns 95% of FanDuel after closing on its $4.2 billion transaction to buy 37% of the company. Boyd Gaming still owns the other 5%. 

Elsewhere, Caesars is a step closer to completing its $3.7 billion takeover of William Hill after receiving antitrust approvals.

Caesars expects the transaction to close by the end of March.