Happy Monday, everyone. Last week ended with a bit of surprising sports betting news, but more on that in a minute.
The latest edition of the LSR Podcast talked about a few big topics including the upcoming launch of sports betting in Arizona. But late in the week two lawsuits were filed that could potentially derail those plans.
Make sure to follow @LSPReport on Twitter as we keep up with the story.
Top sports betting news: Is AZ in jeopardy?
Fifteen of the 18 have publicly announced their sportsbook partners already. Account sign-ups started over the weekend, as did the state’s legal DFS market.
Whether those operators will have legal clearance to launch is a different story, though. Two lawsuits from the Yavapai-Prescott Tribe and Turf Paradise could lead to injunctions that keep the market on hold.
Colorado, Virginia sports betting results expected
Virginia posts numbers around the first of the month while Colorado already missed its typical release window around the 25th.
Nevada sportsbooks reported their best July ever, but handle was still down 24.8% from June. Sports betting revenue was actually up 14% to $33.3 million thanks to strong hold on baseball and a Conor McGregor loss.
So far, 16 US sports betting jurisdictions have reported July results. Handle is down 23.7% while revenue is down 20.5% from June.
Last week’s top news: Maryland moves forward
Maryland sportsbooks will not be launching for the start of the NFL season like in Arizona, but launch is closer after last week.
The industry’s regulations were finally published in the Maryland Register. That starts a 30-day public commentary period. Regulators will hold a meeting with public commentary Sept. 22.
Multiple casino operators signaled their excitement for sports betting to launch during last week’s regulatory meeting.
DraftKings Sportsbook coming to Oregon
The switch should create an overall better experience for sports betting in Oregon, Lottery Director Barry Pack told the commission. Notably, negotiations on the contract are not yet completed so there is no timeline for the switch.
DraftKings stopped accepting DFS entries from the state in July as part of those negotiations.
Other top stories at LSR last week
- Single-game sports betting in Canada is finally live through multiple provincial lotteries. It will still be a few months before any province launches its first private operators.
- The report that likely will show the current Washington DC sports betting model is flawed is still not finished. Meanwhile, multiple operators are waiting to launch with Class B licenses but the system seems to be delayed. The application status report from the Office of Lottery & Gaming has not been updated since July 16.
- The Tennessee Education Lottery could approve two more online TN sportsbooks this week. That could include Barstool Sportsbook, as Penn National expected to launch in the state before the NFL season started.
Press release roundup
- Betsperts closed on a $6 million Series A funding round.
- Chalkline also closed a Series A funding round for $2.7 million.
- PlayUSA predicts football will generate more than $20 billion in handle and $1.5 billion in revenue this year.
- SeventySix Capital is the first investment company to join the American Gaming Association‘s Have a Game Plan, Bet Responsibly campaign.