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 (or fashionably late) 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.
Fairly quick and dirty edition this week as Smiley headquarters in New Jersey recovers from the winds, broken branches and power outages brought by Tropical Storm Isaias.
Mass confusion continues
Sports betting didn’t get through the Massachusetts Senate last week, and while the formal legislative session in the state has been extended, it’s still unclear if sports wagering will be legalized in 2020. The bill passed by the House in July includes a 15% tax on revenue, calls for an additional tax on gross gaming revenue that would be funneled back to sports venues, and allows for partnerships between professional leagues and sportsbooks. While the House bill allows for statewide mobile wagering, it’s becoming more and more apparent that Senate leadership is not on board, according to the latest report from MassLive.
“If this does come back, I think it’s a 50-50 if this gets done this calendar year,” political consultant Tony Cignoli told MassLive, citing talks with legislators. “I don’t think you’re going to see the same bill, no. I think you’re going to see a completely different make and model.”
D.C. money matters
According to a report from WTOP, the DC Lottery’s GamBetDC mobile sports betting app took $1.2 million in wagers between May 30-Aug.3, meaning it won’t come close to projected gross gaming revenue or tax revenue this year. During that span, $237,000 in tax revenue went to the District. A study by Spectrum Gaming had estimated gross gaming revenue in the first year of D.C. legal sports betting could be $23 million, and could reach $84 million by 2023. The study assumed sports betting would start in 2019.
At the time of this writing, reports were not available on the DC Lottery website.
The numbers could change significantly this month with three of the four major professional leagues back in action and the addition of a temporary retail sportsbook at Capital One Arena, the first of its kind in the nation. The William Hill sportsbook at Capital One Arena opened on July 31.
More of the most interesting, important industry stories of the week (and some sports things)
PointsBet partners the Indiana Pacershttps://t.co/6TSiI1Qv0b
— Seth Young (@sethyoung) August 5, 2020
WHOA: Nets (+19) shock Bucks for largest NBA point spread upset since 1993 [Chalk]
EARNINGS: Penn National sees “encouraging trends” in regional casino markets [CDC Gaming]
TEEING OFF: PGA Tour aims to be the next frontier for rampant legal gambling [LAT]
EVOLUTION: Michigan’s Bay Mills tribe embraces mobile sports betting because it’s “evolve or die” [MI Bets]
BLACK HOLE: Raiders state-of-the-art stadium will sit empty for 2020 [LV Sun]
I’ve seen a lot of things at the poker table over the years but this one wins the prize. A woman has a dildo as her card protector. Gives new meaning to “I’m All In”. 😱 pic.twitter.com/dfNOrcNOzF
— Marco D'Angelo (@MarcoInVegas) August 4, 2020
EAST ST. LOUIS: DraftKings goes live in Illinois, but there’s a catch [SH]
CAPITAL: theScore announces $25 million bought deal financing [Yahoo]
CROSSOVER: This is a pretty incredible story about a U.S. silver medalist in speed skating who made his MLB debut with the Marlins this week [WSJ]
LAUNCH PAD: Penn Nat’l now preparing September debut for Barstool Sportsbook in PA [Penn Bets]
BIRD LAND: Facts refute claims Cardinals got COVID-19 at casino [Post-Dispatch]
NIGHTMARE: If No NFL, ‘Catastrophic Blow’ To Betting Business [US Bets]
SIGN OF TIMES: NBA Digital To Offer Betting-Focused NBA BetStream Telecasts [SH]
