Happy Monday, everyone. Sports betting news is exploding with recent state launches, plenty of new bills and the NFL playoffs.
That meant there was plenty to talk about on the LSR Podcast this week, including projections for New York that are already outdated, thanks to the massive action online books are seeing in the debut month.
Top sports betting news: What will NY total in January?
New York’s mobile sportsbooks accepted nearly $1.2 billion in handle and $91.4 million in revenue through the first 16 days.
That means the six live NY sportsbooks – PointsBet went live last Monday – should easily top the US record $1.303 billion bet with New Jersey sportsbooks during October. The next weekly update with results through Jan. 30 should be out Friday.
There was other big news involving NY sports betting last week as well:
- Bally’s – which is in the midst of a takeover bid by its chairman’s own hedge fund – will not launch in New York until April, missing two of the most important customer acquisition events of the year in Super Bowl betting and March Madness betting.
- WynnBET, which is not yet live in the market, is reportedly for sale at a discount price as Wynn Resorts wants out of the business.
Multiple revenue reports incoming
Both Colorado and Virginia should report their December results this week. Virginia sports betting results are usually available on the first of each month. The report on Colorado sportsbooks is already later than usual.
It will still be a while before we get a full picture of how US sports betting performed in December, though. Two top 10 US jurisdictions wait much longer than others to report.
Results for Illinois sportsbooks should be out in two weeks. Arizona‘s results are not expected until closer to the end of the month.
With 20 jurisdictions reporting so far, US handle is $5.1 billion with $241.2 million in revenue. Both numbers are up over last December but down sequentially from November. Last week’s reports included some rough results for Nevada sportsbooks in December and better revenue for Arizona sportsbooks in November than their first two months.
Last week’s top sports betting news: Louisiana live with mobile
Six sportsbooks made their debut in the first round of launches:
The first set of results should come around Feb. 17, when the Louisiana Gaming Control Board next meets. While Louisiana should come nowhere near the amount of activity New York saw at launch it should still be a big first weekend given former LSU quarterback Joe Burrow‘s presence in the AFC Championship with the Cincinnati Bengals.
ELYS working with Lottomatica in US
Elys Game Technology signed a binding term sheet to design, develop and service a sportsbook platform for Lottomatica‘s push into North America.
The partnership will drive shareholder value for both companies and could lead to more business in the future, Elys Chairman Mike Ciavarella said. Lottomatica is a leading operator in the Italian gaming market, which is where Elys has most of its operations.
Elys also submitted its US Gameboard platform for certification in New Jersey. Its recently acquired US Bookmaking will operate the sportsbook at Ocean Casino in Atlantic City.
Other top sports betting news
- Arkansas sports betting will not expand online for the Super Bowl after a slight change in language for the rule change led to a delay.
- BetMGM is now licensed in Illinois after a long wait and plans to launch when remote registration is allowed again March 5.
- It looks like some Tennessee sportsbooks will be sending additional tax payments to the state. Tennessee’s hold for 2021 was 7.3%, well off its minimum 10% hold.
- Kambi picked up another US sports betting partner in MaximBet, which is live in Colorado with five other states pending.
- Kansas Rep. Brandon Woodard told LSR he’s confident sports betting in Kansas will be legalized this year.
- Ohio sportsbooks are still a ways off from launch but the rulemaking process is now underway.
- PointsBet COO Mark Hughes talked to LSR about the “always on” live betting product which debuted on Wild Card Weekend.
- The lawsuit seeking to stop sports betting in Arizona is asking for additional time.
- When will Nevada finally embrace mobile registration for online sports betting?