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
Commercial books opening in Louisiana
Longer tailgate, longer odds
Likely headed to Gov. Pritzker and from there to pasture
From the Inexplicable Files
PASPA fell, but not the sky with it
Known quantity up North
CT Lottery partner opens up shop
Election Day drama
Another state-record 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]
— Sports Handle (@sports_handle) October 29, 2021