Each Monday, our “What’s On Tap,” series will preview the week ahead in the world of sports betting. Come here for a summary of upcoming financial happenings, legislative and regulatory meetings, industry conferences, top games scheduled for the week, and much more. Also, check out our weekly review Get A Grip and Wide World of Gambling at US Bets for a look back at last week’s relevant news.
Monday, May 3
No margin for error for the Canucks
With 11 games remaining, the Vancouver Canucks practically need to win out in order to qualify for the Stanley Cup Playoffs. Beset by COVID-19, the Canucks have played a league-low 45 games. Trailing fourth-place Montreal by 14 points, Vancouver opens a four-game series against Edmonton on Monday night. The Canucks, which reached the Western Conference semifinals last season, have five games in hand on the Canadiens. Vancouver is considered a longshot to win the Stanley Cup, with odds of 250/1 at FanDuel.
Tuesday, May 4
Louisiana House Ways and Means Committee hearing
At Tuesday’s hearing, the committee will consider the tax ramifications of HB 688, a bill authored by Louisiana Rep. John Stefanski (R – District 42). The bill sets an application fee of $250,000 for sports betting licenses, down from a previous proposed amount of $500,000. Operators will be taxed at a rate of 10% of gross gaming revenues for in-person sports wagers, as well as 18% on mobile sports wagers under Stefanski’s bill. In addition, the bill calls for a $10,000 fee for service provider applicants, along with an additional fee of $12,500 if the provider is awarded a license. Last November, on Election Night, voters legalized sports betting in Louisiana in 55 of 64 state parishes.
— WWL Radio (@WWLAMFM) May 3, 2021
Wednesday, May 6
SBC Know Your Customer webinar
A webinar hosted by SBC Gaming will tackle key questions for operators when encountering Know Your Customer (KYC) issues that arise in onboarding online gambling customers. In March, sportsbook operator Tennessee Action 24/7 had its sports betting license suspended after an investigator from the Tennessee Education Lottery discovered alleged activity involving money laundering, credit card fraud, and illegal proxy betting on the company’s platform. The webinar will discuss numerous KYC issues, including the percentage of online gaming customer registrations that pass KYC protocols and the average completion time for KYC review before customers can begin wagering.
Thursday, May 6
Penn National Gaming first quarter earnings
On Monday, Penn National Gaming announced plans to launch Penn Game Studios, an iCasino content initiative that intends on leveraging the Barstool Sports brand and the company’s customer rewards program for further customer engagement. The announcement comes several days before Penn National’s 2021 first quarter earnings call on Thursday. Last month, Truist Securities analyst Barry Jonas lowered his price target on Penn to $110 per share, down considerably from a previous target of $135. While Barstool Sportsbook handled more than $100 million in bets over the first three months of online sports wagering in Michigan, its market share declined to 11% in March during the critical March Madness period. As a result, Barstool has fallen to fourth in market share in the state. Penn traded above $90 a share on Monday.
*Penn National Gaming to Launch Penn Game Studios
• The game studio will create original online casino games exclusive to the Penn and Barstool brands.
• The company has acquired game developer HitPoint to accelerate this effort. $PENN
— Roundhill Investments (@roundhill) May 3, 2021
Friday, May 7
More color on DraftKings’ tech platform during quarterly earnings call
Investors may learn more about the timing of DraftKings‘ migration to its in-house, back-end technology platform powered by SBTech during Friday’s 2021 first quarter earnings call. DraftKings previously announced that it will test the platform in several states, before the planned rollout at some point during the third quarter. DraftKings is expected to reported a quarterly loss of $0.50 per share, along with revenue of $222.6 million for the period, according to Zacks Equity Research. DraftKings opened on Monday at $57.83 a share.
Saturday, May 8
Canelo seeks seventh straight win
Less than three months after a dominating TKO over Avni Yildirim, Canelo Alvarez will return to the ring on Saturday night at AT&T Stadium in Arlington, Texas. Alvarez (55-1-2) will face British super middleweight Billy Joe Saunders (30-0) in a unification bout. Alvarez, the WBA and WBC super middleweight champion, is a heavy -715 favorite at DraftKings. The total for rounds fought is 10.5 (over -162/under +120). Saunders (+425) is coming off a lopsided victory of his own when he defeated Martin Murray in a unanimous decision last December. Saunders won on all three cards by at least eight points.
"SAUNDERS IS NO MAYWEATHER!"
— Boxing Social (@boxing_social) April 28, 2021