Matthew Waters, Author at Legal Sports Report

Still More To Do Before Tennessee Sports Betting Launches November 1

With Tennessee sports betting prepared to go live in under two weeks, there’s still more to get done before operators can officially launch. The Tennessee Education Lottery held a special meeting Friday concerning sports betting. It’s not surprising that a state would hold a special meeting that close to launch. Colorado held a few of […] Read More

Posted on: October 19, 2020 | | Matthew Waters

The Week In Sports Betting News: Handle Records Continue To Fall

Happy Monday, everyone. Sports betting handle continues to make news across the country as bettors dropped record amounts in September. That was one of the big stories covered in the most recent LSR Podcast. The team also dove into the ever-changing story at Barstool Sportsbook and its leader, at least in his mind. Remember to […] Read More

Posted on: October 19, 2020 | | Matthew Waters

Pennsylvania Sports Betting Market Joins Record Party

Pennsylvania joined the list of states hitting new sports betting heights in the packed sports month of September. Handle totaled $462.8 million in September, quickly topping the record set in August by 26.8%. It’s the first time the market broke the $400 million handle mark. Revenue, however, did not hit a new record, according to […] Read More

Posted on: October 16, 2020 | | Matthew Waters

Could NJ Sports Betting Market Hit $1 Billion In Monthly Handle?

The NJ sports betting market hit a total that could take a while to be topped – or maybe the Garden State might again top itself next month. Bettors put up $748.6 million with legal New Jersey sportsbooks in September. That’s a new monthly record for both the state and the US sports betting market […] Read More

Posted on: October 15, 2020 | | Matthew Waters

Retail Still King In DC Sports Betting Thanks To Intralot, Gambet

Washington DC sports betting had an unlikely leader for the second straight month. William Hill took $12.2 million in bets during September from its temporary retail sportsbook at Capital One Arena. That’s nearly four times the $3.3 million bet with GambetDC, the district-wide mobile DC sports betting app operated by Intralot for the DC Lottery. […] Read More

Posted on: October 15, 2020 | | Matthew Waters

Michigan sports betting next for Barstool

Barstool Sportsbook Entering Michigan Next, 10 More States In 2021

We finally know where Barstool Sportsbook plans to make its next move: the online Michigan sports betting market. Read More

Posted on: October 14, 2020 | | Matthew Waters

Analysts Split On DraftKings Stock Potential After New Share Offering

Everyone interested in US sports betting knew DraftKings stock would get some attention as the only US -listed, pure-play sports betting operator. Since going public in April, though, the stock exploded into more than that. Chad Beynon of Macquarie suggested the DraftKings stock is now considered part of the software and consumer internet high-growth sectors. […] Read More

Posted on: October 14, 2020 | | Matthew Waters

The Week In Sports Betting News: Sure, Go Raise Another Billion

Happy Monday, everyone. We enter the week with one less sport to bet on as the NBA wrapped up its season on Sunday, but news of positive sports betting results is expected to continue. The most recent LSR Podcast remained focused on the saga of 5 Dimes, which continues moving toward an intended switch from […] Read More

Posted on: October 12, 2020 | | Matthew Waters

Indiana Sports Betting Hits Record $207 Million In Wagers In September

If returns out of Indiana and Iowa are any indication, the US sports betting industry is in for a big month with the start of NFL. Read More

Posted on: October 9, 2020 | | Matthew Waters

Did DraftKings Stock Offering Price Cause Concern Among Stock Market Investors?

DraftKings will likely add another $900 million to its balance sheet from its most recent stock offering, but at what cost? DraftKings priced its offering at $52 each for the 16 million new shares it will add to the market. That represents an 8.4% discount from Tuesday’s closing price and is 18.5% off the 52-week […] Read More

Posted on: October 8, 2020 | | Matthew Waters