Happy Monday, everyone. Enjoy the next few minutes of sports betting news as a nice distraction from the fact your taxes are due next week.
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Top sports betting news: March results coming in
The first wave of March sports betting revenue reports will hit this week. Most states should see some month-over-month growth thanks to March Madness betting.
The first significant report came from this weekend from Iowa sportsbooks, where bettors wagered $233.5 million in March. That is up 8.2% from February and up 44.7% from March 2021.
Reports this week should come in from Connecticut, Indiana, Maryland and Washington DC.
Louisiana, New Jersey and Pennsylvania should all report the following week.
Earnings season back already
The reporting period for fourth-quarter results just wrapped up, which means it is already time for companies to break out their first-quarter earnings.
While plenty of important information will come out of the actual earnings many will be listening to the calls for details on key new markets like Louisiana, New York and private sports betting in Ontario, which went live last week.
Not every call is scheduled yet. Most that are, including Penn National, Caesars, MGM Resorts and a BetMGM-specific call, are all in May.
Last week’s top sports betting news: NY expansion shelved
The budding mobile New York sports betting market will not add new licensees, at least this year, Sen. Joe Addabbo Jr. told LSR last week. The gaming focus for this year’s budget was on downstate casino licenses, which made the budget passed over the weekend.
Adding sports betting licenses might not be an easy task, considering proposals that both lowered and maintained the 51% tax rate were shot down. No one wants to jeopardize that tax flow, which goes toward education. The state’s eight live operators are already on the hook for more than $150 million in taxes despite the market only launching in January.
Elsewhere in New York, Caesars Sportsbook might not be advertising as much these days but the brand will get TV exposure in the Big Apple and beyond. Caesars signed a non-exclusive sports betting partnership with the New York Mets that includes TV-visible, in-game signage.
Multiple Ontario deals announced as market launches
The launch of private operators into the Ontario online sports betting and casino market brought new deals:
- BetMGM and FanDuel extended their partnership with the NHL into Canada.
- FanDuel will exclusively provide odds for Canadian sports network TSN.
- Penn National’s theScore Bet is the exclusive gaming partner of the Toronto Blue Jays.
Sports betting legislation update
A bill to legalize sports betting in Minnesota through the state’s tribes passed a tax committee in the House and is on to the Ways and Means Committee. That bill has been met with a bit of pushback from the state’s charitable gaming industry, though.
GAN, Chalkline launch free-to-play games
GAN launched free-to-play games last week with Chalkline‘s BettorGames platform that should help with customer acquisition and retention.
The games are available for GAN’s retail casino partners to acquire sports betting customers before a state is legal.