News

Mobile Illinois Sports Betting Surges In September Despite Law Crafted Against It

The popularity of mobile Illinois sports betting is not a surprise but its ability to thrive in a market crafted against it bears mention. It took long enough, but we finally know how much was wagered on sports betting in Illinois and the total US in September. Total US sports betting handle was nearly $2.9 […] Read More

Posted on: November 16, 2020 | | Matthew Waters

The Week In Sports Betting News: NJ Again Sets National Record

Happy Monday, everyone. There was plenty of sports betting news for the industry last week, including earnings reports from the two top US sportsbooks. Make sure to follow @LSPReport on Twitter to stay current on all of the latest news coming out of the sports betting world. Top sports betting news: NJ handle again sets […] Read More

Posted on: November 16, 2020 | | Matthew Waters

NJ Sportsbooks Post New Record With $800 Million In Wagers For October

The Meadowlands and its two partners, FanDuel Sportsbook and PointsBet, took the top spot in the market once again, with just under $30 million in revenue. Read More

Posted on: November 13, 2020 | | Brad Allen

DraftKings Reports Net Loss Of $350M in Q3, But Stock Jumps 10% On Growth

DraftKings Reports Net Loss Of $350M in Q3, But Stock Jumps 10% On Growth Read More

Posted on: November 13, 2020 | | Brad Allen

Penn National, Wynn Resorts Lobby For Control Of Massachusetts Sports Betting

At least two of the casino operators in Massachusetts are against state politicians simply handing sports betting to any operation but themselves. Leaders of Penn National and Wynn Resorts‘ two casinos in the state penned a joint letter in late October that called for most sports betting licenses to be under their control, according to […] Read More

Posted on: November 12, 2020 | | Matthew Waters

FanDuel Group Adds Nearly Half A Million Users In Q3, On Track For $1.1 Billion In Annual Revenue

FanDuel Group said it expects to lose up to $239 million in FY2020 as it invests in marketing and bonusing to acquire new customers. Read More

Posted on: November 12, 2020 | | Brad Allen

Indiana Sports Betting Still Hitting Records Despite Robust Illinois Market

The sports betting industry wasn’t sure how the Indiana market would hold up whenever Illinois entered the sports betting scene. Illinois appears to be grabbing some share but the Hoosier State is holding on well, though. Sportsbooks saw another record month for both handle and revenue in October. Handle hit $230.9 million with $21.1 million […] Read More

Posted on: November 10, 2020 | | Matthew Waters

Michigan Sports Betting, iGaming Could Be Looking At 2021 Launch

There was plenty of hope this year that gaming regulators in Michigan could get online sports betting and iGaming started at some point in late 2020. According to the most recent Michigan Gaming Control Board meeting, though, that might not be the case. The board submitted proposed rules for both Oct. 6, but that may […] Read More

Posted on: November 10, 2020 | | Matthew Waters

Log Rolling And Tug of War: How A New IRS Memo Looks At DFS

The Internal Revenue Service (IRS) has issued another memo at the intersection of daily fantasy sports and the federal tax code. Dated September 14, 2020 but not publicly released until October 16, the IRS’s recent four-page memo concludes that “[t]he amount paid by a daily fantasy sports player to participate in a daily fantasy sports […] Read More

Posted on: November 9, 2020 | | Ryan Rodenberg

The Week In Sports Betting News: The More States, The Merrier

Happy Monday, everyone. We finally have an answer to the big news from last week: voters around the country approved sports betting at every chance. Oh, right – the presidential election was significant too. The team broke down all the talk of election odds and whether those will be listed on a US sportsbook anytime […] Read More

Posted on: November 9, 2020 | | Matthew Waters