Happy Monday, everyone. This upcoming week is an important one for sports betting news with New York‘s mobile sports betting RFP dropping.
Last week was pretty important too, as chronicled by the LSR Podcast. The team dove into the biggest news of last week, which brings single-game betting to Canada later this year.
Be sure to follow @LSPReport on Twitter for all breaking news updates.
Sports betting news we’re watching: NY publishing RFP details
It has been a long wait since mid-April when Gov. Andrew Cuomo finally signed online sportsbooks in New York into law.
Sportsbooks have been in an extended limbo period since then. There are rumblings of certain operators talking to others about potential joint bids, but nothing public has been confirmed. That will change by Thursday since July 1 is the due date for the RFP details from state regulators.
The public does know a few details based on two rounds of Q&A first published in April and updated in June. Some of the definite details include:
- A minimum of two platform providers and four sports betting skins will launch in New York. All a platform provider must do is accept and process the bet. All other aspects of the technology can come from the sportsbooks themselves.
- Winning bidders will share at least 50% of revenue with the state of New York, according to those involved in the process. All bidders will be required to accept the highest winning revenue share proposal or their bids will be thrown out. It is worthwhile to note the actual legislation calls for a minimum tax rate of 12%.
- Platform providers will pay a $25 million license fee. That will be paid multiple times if the platform provider submits and wins multiple bids.
Mobile NY sports betting could launch sometime this fall. Sen. Joe Addabbo hopes Super Bowl betting serves as a benchmark for the market.
Final sportsbook to be picked in Connecticut
Monday is a significant day for sports betting in Connecticut as the final of three sportsbooks will be selected by the Connecticut Lottery.
The public will not find out who the winning bidder is until the contract is negotiated and signed, Lottery Chairman Rob Simmelkjaer said. Five sportsbooks bid for the state’s final skin.
DraftKings Sportsbook and a Kambi-powered skin will also operate in Connecticut.
The plan is to launch Connecticut sports betting by fall. Simmelkjaer noted a launch by the start of NFL betting season is “extremely aggressive” but not impossible.
Along with promulgating regulations and other necessary steps, the amended tribal gaming compacts that allow sports betting to launch still need approval at the federal level.
Last week’s top sports betting news: O (finally) Canada
Canada narrowly missed a trip to the LSR sin bin but the bill that allows single-game sports betting in Canada finally passed through Parliament.
C-218 is on its way to the Governor General to become law after the Senate passed the bill, 57-20, on Tuesday.
Keep an eye on the stock of Score Media & Gaming, which operates theScore Bet sportsbook. CEO John Levy is bullish on his company’s prospects, he noted in a statement after the passage:
“theScore is Canada’s leading digital sports media brand and we are eager to bring our award-winning mobile sportsbook, theScore Bet, to fans on our home turf. We have been actively preparing for the expansion of online sports betting and iGaming in our home province of Ontario, which is expected to commence later this year, and we are very favorably positioned to succeed given our mobile betting experience and vast active user base.”
Plenty of companies followed up with additional praise for the passage.
DraftKings, FanDuel behind Florida betting referendum
The two biggest US sports betting operators want to game played by their rules in Florida, it appears.
DraftKings Sportsbook and FanDuel Sportsbook are behind a ballot initiative that would give Floridians the ability to authorize mobile sports betting in the state. FL sports betting through the Seminole Tribe is pending federal approval after an amended compact passed in May.
The two sportsbooks could work out a deal with the Seminole to launch on the Hard Rock Digital platform but would rather run their own operations. The referendum would require 60% approval to pass next year.
Ohio sports betting fails before summer break
It looks like Sen. Niraj Antani is in line for a tongue lashing from one Ohio resident as it is clear a sports betting bill will not pass before June 30.
Sen. Kirk Schuring and Antani both amended HB 29 Thursday, Antani first with his name, image and likeness language and Schuring after with sports betting language.
The proposed OH sports betting language included a few changes from SB 176, which was sent to the House last week but had yet to see any action in committee. One important change means casinos would no longer be locked out of hosting sportsbooks in Cleveland and Cincinnati, should the sports teams in those cities want to operate retail sports betting.
House Speaker Bob Cupp told local outlets HB 29 would not get a hearing before the summer break, though. That means sports betting in Ohio could be delayed until summer 2022 or later.
Louisiana sees final sports betting bills signed
Louisiana Gov. John Bel Edwards signed the final pieces of the LA sports betting puzzle last week.
The final bills were the regulatory and appropriations bills for betting, which followed the signing of a bill containing the industry’s tax structure.
Voters in 55 of Louisiana’s 64 parishes (see: counties) approved sports betting at the polls in November.
Other top stories from last week
Make sure not to miss the rest of last week’s sports betting news:
- 888 signed a sportsbook agreement with Sports Illustrated.
- Is the US sports betting market still as sticky as it was earlier this year?
- LSR caught up with Circa Sportsbooks director Matthew Metcalf to talk about the Colorado sports betting market.
- Maine sports betting is back in Gov. Janet Mills’ hands. Will non-existent betting on spelling bees scare her away from approval again?
- Sporttrade announced $36 million in funding with backing from multiple investors including Chicago VC firm Jump Capital, former CEO of MGM Resorts International Jim Murren, and Tom Wittman, former CEO of the Nasdaq Stock Exchange.