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 headlines, highlighting some fresh news, and rounding up key stories.
Top stories around our network this week
Four years-plus into legalized sports betting operations in the U.S. outside of Nevada, there’s still a big learning curve for the many major mobile sportsbooks in how to market their product. That was made clear in Sports Handle analyst Bennett Conlin’s deep dive this week into the evolution of the term “risk-free bets,” which not long ago was being used to lure customers but has recently become frowned upon as misleading them.
Regulators in Ohio and Massachusetts have stepped up to ban the use of “risk-free” in marketing — if a customer has to put some of his own money into play — in a way that their peers in previously legalized states did not. And the NBA has joined in, by telling those operators it partners with to avoid the terminology. Major operators such as FanDuel and PointsBet say they’ve already adjusted the wording of special bet offers in recent months or are in the process of doing so, recognizing there are ways to be more forthright about how they’re giving customers a chance to make up for an initial losing wager — but allowing for the possibility they will still lose money.
It’s an interesting evolution in the still-early stages of sportsbook marketing, which Sports Handle is well-equipped to cover. Our network of sites and writers examined much more this week, as the stories below show.
Massachusetts is up and running
Sports betting launches in Massachusetts, giving three retail books a head start
It’s finally legal to bet on the Boston Celtics in Massachusetts
Three Massachusetts sportsbooks get operation certificates for Tuesday launch
Retail sports betting arrives in Massachusetts
Taxes are big topic in New York
DraftKings, FanDuel executives plead for lower taxes in New York
New York governor hopes to use casino taxes for public transportation
A partnership in flux
What’s next for BetMGM as Entain nears end of commitment to U.S. joint venture?
Here a bill, there a bill
Groundhog Day? Missouri lawmakers file similar betting bills to what failed in 2022
Georgia senators file bill to legalize sports betting without constitutional amendment
Lawmaker introduces bill to legalize sports betting exchanges in Illinois
Sen. Addabbo introduces fixed-odds horse racing bill in New York
Legislator revives effort to allow esports betting in Pennsylvania
Silly Super Bowl stuff
Kay Adams gives Gronk guff in latest ‘Kick of Destiny’ Super Bowl spot
Betting tips for the Molson Coors/DraftKings $500K commercial contest
The lessons we learn
Media notebook: Carlos Correa saga shows dangers of instant reporting
Money matters — man, does it matter
New York moves closer to first $2 billion monthly sports wagering handle
Nevada sportsbooks eke out small revenue gain for 2022
Arizona sends U.S. sports wagering handle over $10 billion for November
Virginia sportsbooks top $50 million for fourth straight month
Colorado surpasses $10 billion in sports wagering handle
Vermont considering mobile-only bill
Vermont lawmakers held their first hearing Thursday on H 127, a sports betting bill that would allow for digital wagering. The bill would allow for a minimum of two and a maximum of six wagering platforms.
The hearing in the House Government Operations and Military Affairs Committee focused on responsible gambling, with advocates explaining methods of protecting those at risk. The bill calls for at least $250,000 of gross gaming revenue to be funneled to responsible gambling programs, a statewide self-exclusion list, and a study every five years.
The bill would set the legal age for wagering at 18 and make the Department of Liquor and Lottery the regulator. It does not address retail sports betting, similar to how lawmakers in Tennessee and Wyoming previously passed digital-only betting bills.
— Jill R. Dorson
Massachusetts approves more rules
Two days after what Massachusetts Gaming Commission Executive Director Karen Wells deemed a “successful” launch with no issues, the commission unanimously approved four rules Thursday, mostly dealing with equipment and testing laboratories.
The regulator on Tuesday oversaw the opening of three retail sportsbooks at Encore Boston Harbor (WynnBET), MGM Springfield (BetMGM), and Plainridge Park (Barstool Sportsbook). The MGC will now turn its attention to launching the 11 initially approved digital platforms in early March. No specific start date has been set.
— Jill R. Dorson
PENN happy with Ohio, Ontario
PENN Entertainment CEO Jay Snowden said Thursday that Ontario has become the company’s top North American market for both sports betting and online casino revenue, but Ohio’s launch on Jan. 1 was Barstool Sportsbook’s most successful yet in terms of first-time deposits.
Snowden made the comments to investment analysts on the company’s quarterly earnings call, in which he also stated that PENN’s interactive segment achieved profitability during the last three months of 2022. He also expressed optimism about the company’s 2023 prospects in Massachusetts, where it debuted its 31st retail sportsbook this week and will next month launch mobile betting in what he noted is the home state of Barstool Sports.
PENN is planning this month to spend $388 million to finalize acquisition of Barstool Sports and bring it entirely into the company’s fold after owning one-third of it for several years. It is also planning in July to shift the Barstool Sportsbook platform onto the tech stack developed by theScore Bet for use in Ontario, which Snowden said has been hugely successful in implementing Barstool-specific parlay offerings and other features embraced by customers.
— Gary Rotstein
Betfred joins the crowd in Virginia
Betfred went live with its mobile sports betting platform in Virginia Wednesday, launching soon after bet365 as the state has grown to more than a dozen digital operators.
Betfred’s entry announcement also came just after it won approval last month in Nevada to begin retail sportsbook operations in Las Vegas any day. The company already had operations in Iowa, Pennsylvania, Colorado, Louisiana, Arizona, Washington, Maryland, and Ohio before adding Virginia.
The sportsbook founded in the UK in 1967 is entering a crowded Virginia market where operators combined for betting handle of $503.1 million in December, with gross revenue of $50.7 million. Betfred foreshadowed its Virginia start by last year becoming the official sports betting partner of Loudoun United FC of the USL Championship league.
— Gary Rotstein
More of the most important, interesting stories
POINT SPREADS ARE SO BORING, AFTER ALL: The rise of the same-game parlay, America’s new favorite way to bet [ESPN.com]
WHO BELIEVES IN EVOLUTION?: How legalized betting has changed the way we watch sports [The Michigan Daily]
NEW YORK NEEDS MORE BETTING, DON’T YA KNOW: Trade group wants sports betting in restaurants [Long Island Business News]
WE BET IT’S COLD WHERE YOU ARE: Betting on weather takes off [Fox 5 NY]
Gambling on weather – wow!@dancastnerhttps://t.co/saEPZIjV2d
— Chris Perruna (@cperruna) February 2, 2023
MAYBE THIS CENTURY, MAYBE NOT: Texas wants to know: When will sports betting be legalized? [105.3 The Fan]
IT MIGHT BE A NICE WINTER DISTRACTION UP THERE: Minnesota lawmakers once again taking up proposal for legal sports betting [CBS Minnesota]
MISSISSIPPI MULLING OVER MOBILE THINGS: Task force could study mobile sports betting, but it is not likely to be legal this year [Mississippi Clarion Ledger]
MAN DOWN AT 888: Pazner removed as 888 chief executive [iGaming Business]
