It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad). Here’s the weekend Sports Handle item, “Get a Grip,” recapping the week’s top U.S. sports betting stories, highlighting some fresh news, and rounding up key stories.
Top stories around our network this week
In an industry as new as legalized sports wagering, there’s room for all kinds of entrepreneurs — especially younger, tech-savvy ones — to enter the field somehow and put out a niche product appealing to bettors with particular interests. There’s the case of props.cash, where a savvy Canadian built a platform that greatly streamlines the process for researching and identifying the best prop bets in various sports. And a new mobile app from TopProp is simplifying the process of head-to-head competition among friends over athletes’ fantasy points.
Celebrity boxer/social media star Jake Paul, meanwhile, has co-founded Betr, a new company that aims to market a betting app focused on micro-betting, appealing to in-play bettors more interested in predicting the next play or series in a game rather than placing pre-game bets on the outcome. Betr already has a 10-year deal in place to provide mobile betting through the Pro Football Hall of Fame in Ohio after that state launches sports betting Jan. 1.
Our network of media sites is on top of all the new trends, as well as the full scope of gambling developments across the U.S., as shown in stories from the past week:
You know, the waiting is the hardest part
Mass Gaming Commission not ready to divulge timeline or look of go-live
Kansas Lottery still not ready to nail down launch date
Land-based sportsbooks could launch in Ontario by September
Commanders receive initial approval for FedEx Field sportsbook
Here’s looking at you, Fubo
Options abound for FuboTV as streaming service mulls next steps for sportsbook
Fubo will still be launching its New Jersey sportsbook by September
Other states coming? Yes? No? Maybe?
California Proposition 27 scores big with MLB endorsement
Out-of-session sports wagering push consistent in North Carolina
A cautionary tale, for young people and everyone else
For responsible gambling advocates, college is tough to get into
We feel really sorry for these fans and bettors
The five worst sports cities, according to futures betting odds
OK, let’s count up the money
New York sports wagering operators post small gain in July
Illinois barely misses second spot nationally for sports betting handle in June
Indiana sportsbooks post July revenue gain
Retail sportsbooks pound Maryland’s bettors again in July
Gaming industry sets quarterly revenue record
The American Gaming Association reported combined nationwide commercial revenue of more than $14.8 billion in the second quarter from casino slots and table games, sports wagering, and iGaming. The figure is 3.3% higher than the previous record established in the fourth quarter of last year. It was also 8.8% higher compared to the second quarter of 2021.
Sports wagering revenue for Q2 totaled more than $1.4 billion, up 58.7% from last year, as 26 states were accepting commercial wagers compared to 20 at the same time last year. The revenue figure did not include June revenue reports from national top 10 markets Illinois and Arizona, which had yet to publish their respective numbers.
— Chris Altruda
Profitable Flutter increases market lead
Flutter strengthened its grip on the U.S. sports betting market over the second quarter of 2022, the U.K.-based parent company of FanDuel noted in Friday’s quarterly earnings call.
For the three-month period ending June 30, Flutter maintained top billing in the U.S. market, as the company’s online sports betting gross gaming revenue (GGR) represented 51% of the market, according to a company presentation. The figure covers GGR market share of FanDuel and FOX Bet in active FanDuel states, the company indicated.
Flutter generated total revenue from its U.S. division of £1.1 billion ($1.34 billion), up 61% from revenue of £652 million in the year-ago quarter. Flutter also reported adjusted EBITDA of £16 million from the U.S. group in the quarter, becoming the first major U.S. sports betting operator to deliver profitability in a full quarter since the Supreme Court’s historic PASPA decision. Flutter’s U.S. division includes also includes the TVG, PokerStars, and Stardust brands, illustrating the company’s ability to generate revenue in areas outside of sports betting.
— Matt Rybaltowski
Updated Caesars Sportsbook app comes to D.C
Caesars announced Thursday that the “most advanced version” of its sportsbook app is operational in Washington, D.C. Previously, D.C. bettors who were at or within a two-block radius of Capital One Arena could use the Caesars Sportsbook from William Hill. The latest version of the Caesars Sportsbook is now available to D.C. customers.
“D.C. remains a special market for us following the historic opening of Caesars Sportsbook at Capital One Arena in 2021,” said Chris Holdren, co-president of Caesars Digital. “This is an important step as we continue to expand our offering for sports fans. We’re ready to capitalize on our momentum with our great district partners as the sports calendar ramps up.”
Caesars Sportsbook is one of the few major national sports betting operators available in D.C. FanDuel (Audi Field) and BetMGM (Nationals Park) also have retail sportsbooks within the District.
— Bennett Conlin
New Washington compact published
The Confederated Tribes of the Chehalis Reservation is the latest tribe in Washington state to qualify for a sports betting license after having its revised compact approved by the Department of Interior and published in the Federal Register Tuesday.
The Chehalis tribe owns and operates the Lucky Eagle Casino in Rochester, located about halfway between Seattle and Portland. No word yet on whether the tribe will partner with an existing operator or open its own white label sportsbook.
— Ted Dahlstrom
More of the most important, interesting stories
WHAT’S THE OVER/UNDER ON THAT?: The future of NFL betting: Why player props are expected to be king [ESPN.com]
ET TU, GEORGIA?: Abrams: It’s time to legalize casino gambling and sports betting [The Atlanta Journal-Constitution]
HOLD ON, IT’S COMING: FanDuel on track to bring its brand to Las Vegas, following recommendation by Nevada Gaming Control Board [CDC Gaming Reports]
LET’S PULL THINGS BACK A BIT: Football clubs urged to stop gambling firm sponsorships by fan-led campaign group [Sky News]
Clearly assertive action needed in the Premier League to stop the toxic practice of normalising gambling advertising on the shirts of football’s role models & heroes.
Premier League seeks clubs' backing for gambling sponsor ban | Business News | Sky News https://t.co/05WjKNF5x4— Claire Murdoch (@ClaireCNWL) July 4, 2022
SIGNING UP FOR ANALYSIS: ESPN signs fantasy and sports betting analyst Liz Loza to multi-year contract [ESPN]
THANKS FOR LETTING US PLAY, TOO: Sports betting law brings new life to owners of state’s shuttered race tracks [The Boston Globe]
IF MOBILE SPORTS BETTING IS OK, WELL THEN … : Goldberg hopes online lottery can make eco-dev cut [State House News Service]
ONE GOOD VICE DESERVES ANOTHER: Slot machine request at topless lounge concerns gaming leaders [The Nevada Independent]
