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Get A Grip —The Week In Sports Betting: Eyes On New York, DraftKings Drops Entain Bid, Louisiana, Ohio, More

Most of the industry news fit to link

Brett Smiley and Jill Dorson by Brett Smiley and Jill Dorson
October 29, 2021
in Sports
weekly report

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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

Well, it was another chaotic, exciting week in which we consumed large quantities of candy and will regret that sometime shortly before, or hours after, Halloween ends.  Also, if you haven’t dialed into the NBA yet, the New York Knicks are in first place in the Eastern Conference. (And — bing bong! — it is glorious.) With that, on to some other things that matter.

The battle to fill New York’s tax coffers

New York Residents Travel To Connecticut To Place Legal Wagers

Commercial books opening in Louisiana

Caesars Will Kick Off Commercial Retail Wagering In Louisiana Sunday

Longer tailgate, longer odds

​​Does Home Field Advantage Mean That Much?

Likely headed to Gov. Pritzker and from there to pasture

Illinois Lawmakers Approve Mobile Betting Remote Registration 

From the Inexplicable Files

Sports Betting Not Coming To Massachusetts This Year 

PASPA fell, but not the sky with it

Sports Illustrated Was Very Nervous About Sports Betting In 1986 

Cooperation agreement

Seminoles Partner With Five Florida Parimutuels For Sports Wagering 

Known quantity up North

FanDuel Broadens Canadian Reach With Hire Of Former Deloitte, Rogers Exec Dale Hooper

Tug-of-war chests

DraftKings Drops $22B Entain Bid, Opening Door For Revised Attempt By MGM Resorts

Dissenting opinion

Opinion: The NFL’s Sports Gambling Playbook Is Dangerously Flawed

CT Lottery partner opens up shop

First PlaySugarHouse Retail Sportsbook Opens In Connecticut 

Election Day drama

In-State New Jersey College Sports Betting Referendum No Slam Dunk 

Another state-record handle

Colorado Latest State To Set Record, With $408.3M September Betting Handle

More operators coming in Virginia

The takeaway from Wednesday’s Virginia Lottery Board meeting? Expect Bally Bet and up to five additional digital wagering platforms to launch in Virginia by the end of the year. Bally Bet, which was licensed in March, is likely to launch in mid-November. During a presentation about sports betting, Deputy Director of Gaming Compliance Gina Smith said applications for five other operators — which were not identified — were under review.

The latest lottery revenue report is set to come out Monday, but Smith gave a preview, saying that, through September, operators had taken nearly $2 billion in wagers since the Jan. 20 go-live date, and that the state had gotten more than $12.6 million in tax revenue based on a 15% tax rate.

FanDuel, which was first to market by four days ahead of DraftKings, leads all operators in handle since launch. The company has captured 45.4% of market share, followed by DraftKings (26.1%) and BetMGM (17.9%). Professional basketball was the most bet on category, followed by parlays, professional baseball, and the NFL.

Nine operators are currently live in Virginia. The most recent to launch was Golden Nugget, which did so on Sept. 29, and was the first to go live since April 28.

Ohio getting ready to get down

Multiple sources have told Sports Handle that legal wagering in Ohio could move forward by the end of the year, and possibly by Thanksgiving. That said, SB 176, which passed the House in June remains in a Senate committee for consideration. But at least one operator may be laying the groundwork for statewide mobile wagering.

In a press release Thursday, BetMGM announced the launch of its BetMGM Horse Racing mobile app in partnership with NYRA Bets, the official online wagering platform of the New York Racing Association, Inc. On the platform, bettors will be able to wager on horse races at more than 200 tracks around the world. MGM has a physical presence in Ohio at the Northfield Park Racino, which ultimately could provide market access for statewide mobile sports betting.

More of the most important, interesting stories

Five years ago today, @DavidPurdum and I penned the first installment of ESPN Chalk's nine-part 'Future of Sports Betting' series. Direct link to the debut "Future of Sports Betting: The Marketplace" story here — https://t.co/3ydp0oazpk

— Ryan M. Rodenberg (@SportsLawProf) October 26, 2021

If your losses are altering your mood, you have bet too much.

— Roxy Roxborough (@RoxyLasVegas) October 29, 2021

Shares down ~16% in current session…

PointsBet Falls Most in 19 Months After U.S. Market Share Slips pic.twitter.com/lB3sQJifeW

— Alfonso Straffon 🇨🇷🇺🇸🇲🇽 (@astraffon) October 28, 2021

WON’T YOU CRY FOR ME: Las Vegas sportsbooks lose third straight NFL Sunday [LV-RJ]

STACKED:  M&A roundabout puts focus on tech ownership [CDC Gaming]

MORE MONEY: Florida lawmakers look to increase problem gambling funding. [FL Politics]

EYES ON THE PRIZE: PrizePicks talks ‘in-game playability’ and standing out from the rest of the DFS field [SBC Americas]

UH-OH: San Diego Dems want to quit financing horse racing. [ABC10]

COURSE CHANGE: FinCEN guidance for online betting/iGaming document verification goes virtual [Ifrah Law]

BIG MONEY: Study reveals social casinos made $1B during pandemic. [VentureBeat]

WILL A’s STAY? Oakland gives MLB team a vote of confidence. [FrontOfficeSports]

With a little help from mom, grown man @jeffedelstein is back with the Halloween edition of "3 things" for NFL's Week 8 betting and #DFS slate. #Week8

Column here ➡️https://t.co/OlvRsoW0oH pic.twitter.com/l6G3TjyYni

— Sports Handle (@sports_handle) October 29, 2021

Happy Halloween, everyone!

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Brett Smiley and Jill Dorson

Brett Smiley and Jill Dorson

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If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
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