The Week In Sports Betting News: New York Picking Winners

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Happy Monday, folks. Sports betting news does not get much bigger than what’s going down in New York today.

The LSR Podcast dives into that story, as well as the surprising launch of Florida sports betting and more, in the latest episode.

Stay tuned to @LSPReport on Twitter for all this week’s big news.

Top sports betting news: New York stepping into mobile age

New York sports betting could get a whole lot more exciting as soon as this afternoon.

Barring any last-minute changes, the winners of New York’s mobile sports betting RFA should be announced at Monday’s regulatory meeting. Some of the anticipation is gone following a New York Post report that says the two largest consortiums with nine total sportsbooks will be selected.

Whether Penn National and Fanatics or the three solo bidders get in is unclear. The Post reported Fanatics did not get the same kind of paperwork to sign as the other consortia.

Penn CEO Jay Snowden downplayed the market’s importance and called it a “margin killer.” That does not seem like what the CEO of a public company would do before winning a license. The CEOs of two expected winners had much more positive tunes on their conference calls.

The meeting can be live-streamed at 1:30 pm Eastern.

More earnings calls this week

Earnings season continues this week, albeit with a slower schedule than last week (all times Eastern):

Last week’s top sports betting news: Florida is live?

One of the biggest sports betting markets in the US launched last week to almost everyone’s surprise.

Hard Rock Sportsbook took its first bets in Florida last Monday. The launch followed a release from the Seminole Indians from the week before announcing five pari-mutuel partners that will market the app for a 60% cut of those profits.

Whether the app is even operating legally at this point is still up in the air. A federal judge is expected to rule on a lawsuit seeking to stop Florida sports betting this week.

Positive trends reported by DraftKings, FanDuel

DraftKings luckily had a lot of positive things to report to distract from its significant quarterly net losses, including $304 million spent on sales and marketing.

DraftKings Sportsbook saw good results out of Arizona with 100,000 customers signed up in 17 days. That is about eight times faster than it took for that many customers to sign up in New Jersey.

Elsewhere, the CEO FanDuel Sportsbook‘s parent company Flutter said others might be giving up in more mature states because of the brand’s lead:

“In places like New Jersey and Pennsylvania, it sometimes feels like some of the other operators have given up because we’ve got such a commanding lead.”

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