Insiders Doubt CA Prop 26, Prop 27 Pass: ‘It Doesn’t Look Good’

Pessimism persists surrounding the passage of sports betting measures Prop 26 and Prop 27 on the November ballot in California. Both sides have pumped in millions of dollars in a broadcast battle that is increasingly expected to yield an 0-for-2 result. “It doesn’t look good,” one industry insider told LSR. “It seems like both are […] Read More

Posted on: September 29, 2022 | | Mike Mazzeo

Opinion: Decision On Data Could Be Lesson For Sports Betting World

Data is what makes the sports betting world spin. The fastest, most accurate data is the most desirable. But the data market is far from a highly competitive marketplace, thanks in large part to states that have mandated that companies use official league data, something available from only a handful of companies. By creating barriers […] Read More

Posted on: September 29, 2022 | | John Holden

Is Online NY Sports Betting ‘Broken’ While Revenue Pours In?

The jockeying around the online NY sports betting tax rate discussion at next year’s legislature already is underway. New York online sports betting handle fell $33 million from Week 1 of the NFL season to Week 2. Operators combined for $297 million in NY online sports betting handle from Sept. 12-18 after combing for $330 […] Read More

Posted on: September 29, 2022 | | Mike Mazzeo

What Pullback? US Sports Betting TV Ads Rise During Early NFL Season

While some US sports betting brands were public in their intentions to scale back marketing, advertising during NFL games is still growing. US sportsbooks spent $22.9 million on TV advertising during NFL games through the first two weeks of the season this year, according to Kevin Krim, CEO of advertising analytics company EDO. That total is up […] Read More

Posted on: September 28, 2022 | | Pat Evans

Prop 27: Understanding The Online California Sports Betting Proposal

Prop 27 is one of the two ways voters can legalize sports betting in California on this November‘s ballot. Voters can legalize online California sportsbooks through a vote for Prop 27. Prop 26, meanwhile, would legalize only retail sports betting at tribal casinos and horse tracks. Quick hits on Prop 27 Californians can legalize online […] Read More

Posted on: September 28, 2022 | | Matthew Waters

Prop 26: Understanding The California Sports Betting Tribal Proposal

Prop 26 is one of the two options to legalize sports betting in California that will be on November’s ballot. California voters can support retail sports betting at tribal casinos and racetracks through Prop 26, and online California sportsbooks through Prop 27. Funding for the fight between both pro-campaigns and their opponents had already brought […] Read More

Posted on: September 28, 2022 | | Matthew Waters

Analysis: DraftKings Scores A Win In Challenge To Cash Out Patent

A few months ago, a federal judge in the District of Delaware ruled in favor of a motion by DraftKings to recommend canceling a patent related to the cash-out feature that had been registered by UK-based company Diogenes Ltd. and licensed to Colossus Bets. The claim was one of several patent-related claims brought by the […] Read More

Posted on: September 27, 2022 | | John Holden

Going Public: PlayUp Valued At $350M In SPAC Transaction

PlayUp is going public on the NASDAQ through a SPAC transaction that values the sportsbook operator at $350 million. Thursday’s deal with IG Acquisition Corp follows a strategic review that included a possible sale. The transaction should close in the first quarter of 2023. The valuation is $100 million lower than the reported $450 million sale […] Read More

Posted on: September 27, 2022 | | Matthew Waters

Opinion: California Prop 26, 27 Sports Betting Measures More Than Meet The Eye

Voters in California are weeks away from deciding if the state will have sports betting via Prop 26 and Prop 27 and, if they do, just what the model might look like. It might appear that the difference between the two initiatives effectively comes down to in-person at tribal properties versus online CA sports betting, […] Read More

Posted on: September 27, 2022 | | John Holden

Business By The Books: Sports Betting Industry Shift Toward Profitability, Analysts Say

US sports betting operators are finally starting to focus on profitability, though meaningful profit could still be years away. That analysis comes from Fitch analyst Colin Mansfield, who was one of three analysts discussing sports betting on a panel at the East Coast Gaming Congress held Thursday and Friday at Hard Rock AC: “That’s what […] Read More

Posted on: September 26, 2022 | | Matthew Waters