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
A season of football betting without any parlay action is like a wedding without bad dancing, or Thanksgiving dinner without dad jokes, or Seinfeld without Kramer. Sure, it’d be more refined that way, not nearly as silly, and maybe not as memorably fun.
Recreational bettors love parlays, because of the chances of making a big score from a small wager. It’s been known to happen. Media reports always surface about them, including from big-time bettors, too, like an Illinois auto dealer who just turned $65,000 into nearly $3 million by sweeping a six-leg parlay on PointsBet.
And if it’s possible to do so, the sportsbooks love them even more than Joe Q. Bettor. That’s because they retain a hold percentage that is often three or four times as high from parlay action as they do from straight betting. The sharps avoid the parlays, which are so hard to hit, but one way recreational bettors should emulate the savviest pros is by doing their line shopping with parlays just as with point spreads. A Sports Handle story this week explained just how wildly variable the returns can be from the same parlay wager on different sites.
Our network of reporters and websites is always looking to educate the public about smart betting, in addition to offering much, much more, as the past week’s articles show:
Oh, California, you’re so complicated
Read the fine print: Here’s a look at the California ballot
Proposition 26 isn’t just about legal wagering, and card rooms are scared
Gee, this is a lot of responsibility
Responsible gambling in ‘teenager position’ as 12-point pledge faces scrutiny
University of Memphis tackles problem gambling research
‘Before you bet’ quiz offers chance to self-check risk for problem gambling
But who’s responsible for this?
‘Crazy Eddie’ Antar’s nephew sues BetMGM over allegedly costly casino glitches
When in Vegas, do as the regulators say
Nevada regulators warn sportsbooks that reporting delays will not be tolerated
First the world, then Colorado
What bet365’s Colorado launch tells us about about the company’s U.S. plans
Well, if you put it that way …
Indiana iGaming could generate $469M revenue in year one, study says
You could act a little more enthused
Far fewer Ohio applicants for brick-and-mortar licenses than maximum
Let us add it all up for you
Sports wagering in New York continues slow fall rebound
Nevada sports wagering revenue, handle hit 2022 lows in August
Virginia sportsbooks post state-record 13% hold in August
Monthly casino revenue comparisons in PA have seen steady decline
Michigan’s online sportsbooks and casinos blossomed in August heat
MaximBet now live in Indiana
It’s been a long time coming, but MaximBet finally went live in Indiana this week, with the Hoosier State being just the second after Colorado in which the lifestyle-centric sportsbook has launched.
MaximBet’s book is powered by Kambi, a partnership that was announced back in January. In a press release issued Thursday, MaximBet said that its Indiana rollout “sets the path for rapid expansion in several additional markets, including Iowa, New Jersey, Pennsylvania, and Ohio, among others, as well the Canadian province of Ontario.”
As part of the Indiana launch, MaximBet is offering a first-time deposit match up to $250, as well as “Super Freaky Odds Boosts.” (Halloween’s only a month away!)
— Mike Seely
Bally’s completes takeover of Trop Las Vegas
Bally’s Corp. announced this week that it completed its previously announced takeover of the Tropicana Las Vegas through a transaction with Gaming & Leisure Properties Inc. (GLPI) and PENN Entertainment.
Bally’s completed the acquisition of the non-land assets of the Tropicana for a cash purchase price of $148 million, payable to GLPI. Bally’s will lease the land underlying the Tropicana property from GLPI for an initial term of 50 years at an annual rent of $10.5 million.
Bally’s does not intend to complete major changes to the Tropicana for at least the next 12 months before making a decision on a potential overhaul of the property. The Tropicana is located on the corner of Las Vegas Boulevard and Tropicana Avenue on a popular area of the Las Vegas Strip, across from the MGM Grand Hotel & Casino.
— Matt Rybaltowski
Advances in responsible gambling
Responsible Gaming Education Month finished this week with some new announcements and developments.
Caesars Sportsbook rolled out two new responsible gaming ads featuring brand ambassador Henrik Lundqvist, a New York Rangers legend, and J.B. Smoove. The ads direct consumers to the responsible gaming tools on the Caesars Sportsbook app. Take a look:
Underdog Sports, which has plans to launch its first sports betting platforms in 2023, announced that is has retained responsible gaming consultant Brianne Doura-Schawohl. She is to create internal policies and develop strategic plans for the company to better understand and manage responsible and problem gambling. Underdog also announced that it has partnered with BetBlocker, which offers free website-blocking services.
— Jill R. Dorson
Sportsbooks boost breast cancer research
DraftKings announced Thursday that it would be hosting its fourth annual “Pink ‘Em” charity pools, with a goal of raising $100,000 during Breast Cancer Awareness Month in October.
Since 2019, DraftKings has received over $330,000 in donations through the free-to-play, pick’em pools, which will run throughout the NFL’s October game slate. For each of the first 20,000 pool entries in each week of October, DraftKings will donate $1 to the Larry Fitzgerald Foundation for breast cancer research.
DraftKings is also teaming with BetMGM, BetRivers, FanDuel, and Gaming Realms to donate a licensing fee equal to 100% of the proceeds from the online game Slingo Gems to the American Cancer Society.
— Mike Seely
More of the most important, interesting stories
PROFITS? WE’RE SUPPOSED TO MAKE PROFITS?: Sportsbooks are sweating their billion-dollar marketing bet [The Washington Post]
THE CANYON IS GRAND AND SO IS THE BETTING: How Arizona became the biggest state in the West for sports betting [Phoenix New Times]
TOO LATE FOR THE BLACK SOX, BUT: MLB to promote responsible gambling with AGA [Sports Business Journal]
OK, BUT HE’LL HAVE HELL TO PAY IF THEY WIN: Gregg Popovich gave bettors advice they didn’t really need at Media Day: Fade the Spurs this season [USA TODAY]
Gregg Popovich says no one should go to Vegas and bet on the Spurs to win the championship 😅
(via @GregSimmonsKSAT ) pic.twitter.com/TUJ5dHAUsM
— NBACentral (@TheNBACentral) September 26, 2022
IT’LL BE HERE BEFORE YOU KNOW IT: With esports gaining popularity, betting is sure to follow [Las Vegas Review-Journal]
UK COMMISSION NOT FOOLING AROUND: Betfred fined over gambling safety check failings [The Guardian]
AFTER TORTS 101 COMES TRIBAL STUFF: Las Vegas attorney, Indian affairs advisor to create tribal gaming law program at UNLV [CDC Gaming Reports]
I ALWAYS PLAY JACK HIGH FOR $100,000 TOO: Potential poker cheating scandal goes viral during livestream following an all-time horrendous call [The Big Lead]
