The Week In Sports Betting News: Canada Cutting It Close

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Happy Monday, everyone. Sports betting news remains focused on legislation and May betting revenue trends, especially since there is no true comparison for last year because of the Covid pandemic.

The LSR Podcast breaks down some of the jurisdictions looking to legalize but led off with one of the biggest stories last week: Hindenburg Research released a report on DraftKings Sportsbook that made some big allegations.

The stock reacted negatively initially – which Hindenburg wanted because it shorted $DKNG to coincide with the report – but made back some ground throughout the day. It closed about 5% lower on Friday compared to before the news broke Tuesday morning.

Stay tuned on all breaking news by following @LSPReport on Twitter.

Sports betting news to watch: Canada needs a vote

A bill that ends the federal prohibition on single-game sports betting in Canada needs a vote this week.

C-218 is back on the Senate agenda Monday, but other business is scheduled before it. The parliamentary session ends this week.

Sen. David Wells told LSR he is cautiously optimistic the bill will pass.

Provinces are ready for single-game betting. Canadian Gaming Association CEO Paul Burns said Sept. 6 is a realistic launch date. It could launch “almost immediately” in British Columbia, according to Stewart Groumoutis of the British Columbia Lottery Commission.

The end of 2021 could be the launch of single-game sports betting in Ontario, David Phillips of the Alcohol and Gaming Commission of Ontario said.

US states to watch: AZ, ME, MA, OH

Sports betting legislation remains the big story throughout North America, and not just because Canada wants to join the party. Multiple significant states are taking the next steps toward legal sports betting as well:

State sports betting revenue reports: IA, MI, NJ, PA

Only one state reported increased handle last week, which is not unexpected given the slower sports betting calendar in May.