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
In the case of the California initiatives to authorize sports betting, you might call it much a-dough about nothing. Various factions involved in campaigning for and against legalized wagering reportedly spent at least $450 million before Election Day, and in the end, the state’s citizenry and tribes, as well as the nation’s major gaming operators, ended up with the status quo.
Fewer than one of every three California voters on Tuesday were in favor of Proposition 26, which would have let tribes start taking retail bets at their casinos in the nation’s largest state. An even smaller proportion casting ballots — about one of six — supported the commercial operators’ Proposition 27, which would have entitled them to start offering mobile bets through partnerships with tribes, although most tribes wanted no such arrangements.
The highly influential tribes, in fact, did very little to try to get their own Prop 26 passed while focusing on the successful defeat of Prop 27, which they feared would yield their longtime control of the gaming industry within the state to the likes of FanDuel, DraftKings, and BetMGM. The tribes now say they’ll strategize among themselves to see if they have a consensus to move forward on legalized sports betting in a way that can win statewide acceptance in 2024. It can’t come soon enough for one prominent Bay Area radio station, which recently gambled on switching over its longtime news/talk format to focus instead on sports betting-related content.
You can count on Sports Handle and its network of sites and reporters to continue carefully monitoring all of the developments in the state dubbed the “holy grail” of future sports betting, due to its size. And we cover much, much more, as the past week’s stories demonstrate.
He won’t be spending millions on Powerball
Not really what we want to hear
DK always making news of some sort
Well, this is a fine mess we’ve made
Hard to see a downside to this
Leave the wallet at home, if you like
Jets make it sound like FUBAR instead of Fubo
This one has potential to be unholy alliance
Can we bet no one will like the telecast?
Oh, it’s that time of the month again
Sportsbooks see record-breaking quarter
Sportsbooks held an average of 10.5% from bettors during the third quarter, according to the American Gaming Association, which released nationwide statistics Wednesday. Sportsbooks reached a historic high of $1.68 billion in revenue for the quarter, an 80.6% increase against the third quarter of 2021. Handle for the quarter was $15.99 billion, a 40.9% increase over the same period last year.
Seven new markets were online in the July-September time frame compared to last year. Since the Professional and Amateur Sports Protection Act was overturned in 2018, $159.8 billion has been wagered across the U.S., and the operators have netted $11.9 billion in sports betting revenue.
– Jill R. Dorson
Seven approved in Puerto Rico
Caesars Sportsbook was among a group of sports betting-related entities that won licenses from the Puerto Rice Gaming Commission last week, according to multiple media reports. Wagering was first legalized in Puerto Rico in 2019, but to date, only in-person betting is available.
Besides Caesars, others approved or licensing include Ballers Puerto Rico LLC, Liberman Media, CCHPR Hospitality, Continent 8, Swish Analytics, and US Integrity Inc. According to a Kambi press release, Liberman Media has partnered with Kambi and has plans to go live with ApuestaPR, both as a digital platform and “through a large network of retailers” on the island.
Among major operators, BetMGM was the first to take bets in Puerto Rico through its partnership with La Concha Casino Resort. The sportsbook there opened in February 2022.
– Jill R. Dorson
More of the most important, interesting stories
VIRGINIA IS FOR LOVERS AND BETTORS: To escape D.C.’s betting app, some frustrated sports gamblers head to Virginia [The Washington Post]
THE ANSWER IS UNLIKELY TO SURPRISE: Do Northeast Ohioans support sports betting? [Cleveland.com]
VROOM VROOM VEGAS: MGM to install exclusive seats on Bellagio’s lake for next year’s F1 Las Vegas Grand Prix [CDC Gaming Reports]
MGM Resorts announced @F1 fans will be able to watch the Las Vegas Grand Prix from grandstands that will be built on the world-famous lake at Bellagio.
DETAILS: https://t.co/3U5HN9YFgn pic.twitter.com/MRqm3L2JCu
— FOX5 Las Vegas (@FOX5Vegas) November 10, 2022
TRIPLES ARE RARE BUT GOOD: Genius Sports beats expectations in Q3 as U.S. sales triple [Yahoo Sports]
PORTNOY LEARNS WHAT REJECTION FEELS LIKE: Barstool founder Dave Portnoy’s lawsuit against Insider dismissed [Sportico]
ALL-STAR BIDDERS, IF NOT PLAYERS: Matthew McConaughey reportedly joins Bezos, Jay-Z in Commanders bid [Front Office Sports]