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 stories, highlighting some fresh news and rounding up key stories in the world (and industry) of legal U.S. sports betting. You may have missed them, and they are worth reading.
Virginia lawmakers set to hammer out sports betting details
There’s been plenty of action on sports betting in Virginia this week, but all of it was leading to a clear goal — to get Senate and House bill sponsors together to hammer out the details of what a legal framework will look like so that bettors will be one step closer to betting on sports in VA. That happened Wednesday, when Delegates Mark Sickles, Marcus Simon and Will Morefield and Senators Jeremy McPike, Monty Mason and Todd Pillion were designated to conference on the bills. The bipartisan group will be tasked with coming to a consensus on sports betting and getting it to floor votes by March 8, when the general assembly adjourns.
- The Senate bill calls for a 15% tax rate on gross revenue while the House bill calls for 20%
- The Senate bill sets the minimum number of mobile licenses at six and the maximum at 10 while the House bill has four as the minimum and 12 as the maximum; and
- The House bill would allow for sports betting at a pro sports facility by a “qualified applicant that is also a major league sports franchise.” The Senate version limits that to pro sports venues on which “construction began on or after July 1, 2020.” In any case, these clauses are brought to you by celebrated Washington Redskins owner Daniel Snyder.
— ESPN Richmond (@ESPNRichmond) February 21, 2020
Around the horn: Statehouse edition
Colorado: As systems prepare for go, we look at which operators are likely to punch their tickets next.
Connecticut: Lawmakers in this state looked to be first movers after the May 2018 fall of PASPA, but nearly two years later, there’s been no consensus among lawmakers or with the state’s two powerful tribes involved in gambling operations. They’ll try again on Tuesday, when the Public Safety and Security Committee meets to discuss HB 5168 and SB 21, both which would allow for state-wide mobile sports betting as well as in-person sports betting at the Mohegan Sun and Foxwoods casinos and in “entertainment zone facilities.” These zones are an attempt by lawmakers to include commercial sports betting in the mix. There are eight gaming-related bills on the agenda for the public hearing, which is set for 11 a.m. ET Tuesday.
Georgia: A second bill, SR 821, was introduced Tuesday. The three-page bill would allow for sports betting via state lottery but does not lay out any sort of regulatory framework. An earlier bill, SB 403, also would allow for sports betting via the lottery, and it includes details on tax rates and the regulatory process. This bill allows for state-wide mobile. Neither has been assigned a committee hearing.
Kansas: Read story here.
Kentucky: Representative Adam Koenig’s HB 137 has been on the House floor for a month, but no vote has been taken. An 18th amendment, this one dealing with online poker and online poker revenue, was filed Monday. Koenig previously said he’s got enough votes to pass the bill out of the House but needs more Republican votes before sending it to the Senate. The Kentucky general assembly closes on April 15.
Massachusetts: Lawmakers had asked for an extension on a legislative deadline to continue considering sports betting, but that extension expires today (Feb. 28), and there has been no movement on the dozen sports betting and gambling-related bills in the general court. Update: Here’s another bill as they move very deliberately (read: slowly).
New bill to legalize sports betting in Massachusetts advanceshttps://t.co/PzMNpwjkZB
— Laura Briggs (@Fantini_LauraB) February 28, 2020
Missouri: Read story here.
Nevada: The Nevada Gaming Control Board for the first time released a (revealing) official breakdown between retail and online/mobile sportsbooks in the state.
South Dakota: SJR 501, which would allow for sports betting in Deadwood only, was referred to the House State Affairs Committee. The bill, which would send the decision to voters in November, was approved by the Senate, 24-10, on Feb. 11.
Washington: Bill that would deliver land-based wagering only moving along. An update to come later on Friday after another hearing.
Other important, interesting stories of the week
.@FanDuel today announces 54% revenue growth in 2019.
– Net revenue of $480 million
– Reports that its online sports betting market share is 44% in states where live (NJ, IN, WV, PA)
– Across the year, over 80% of FD sportsbok $3 billion handle generated from online channels
— Sports Handle (@sports_handle) February 27, 2020
YOU GET A LAWSUIT: FanDuel Founders, former employees allege board undervalued legalized sports wagering ahead of deal with Paddy Power Betfair [WSJ]
AND YOU GET A LAWSUIT: MLB’s “official data” supplier Sportradar sued by DFS players for, allegedly, knowingly supplying bogus, tainted data in connection with the Astros sign stealing scandal [read complaint here]
ACTUALLY AN ACCOMPLISHMENT Oregon Lottery’s secretive SBTech-run “Scoreboard” sportsbook is losing money [WWeek]
ON CAMPUS: Student writes that legalized sports betting is a horrible idea
ABSOLUTELY NOT: Florida general fund losing $350 million a year in gambling revenue; could sports betting hold the answer? [WFTV]
MEME WAR: Stoolies follow Portnoy’s order to ‘attack’ a reporter for its partner, NASCAR [Daily Beast]
Tweet of note
🙄 Leave it to Darren to muck things up. You can’t be profitable if you lose money. Bettors in aggregate lost 2.6% of what they wagered. NOT profitable. https://t.co/FtOyGMw0w8
— Captain Jack Andrews (@capjack2000) February 28, 2020
A primary reason NFL players are expected to ratify the proposed CBA: Nearly 60% of league makes minimum base salaries, which would spike immediately by over 20% and eclipse $1 million for all players by 2029. From term sheet NFLPA sent to agents (in 1000s, by credited seasons): pic.twitter.com/kRbLlzqGjO
— Tom Pelissero (@TomPelissero) February 27, 2020
A historic prop from @WilliamHillUS in Nevada:
Which team will Tom Brady take his first snap with in Week 1 of the 2020-21 NFL regular season?
Raiders, Chargers +300
No Week 1 snap 18-1
— Ben Fawkes (@BFawkesESPN) February 26, 2020
Post date press conference pic.twitter.com/XAm6pRso5p
— Joey (@JoeyMulinaro) February 21, 2020