As sportsbooks look to cash in on the gold rush created by the legalization of sports gambling, news in the sports betting ecosystem travels at a furious pace. Each week, our “What’s On Tap,” series will preview the week ahead in the World of Sports Betting. Come here for a summary of upcoming legislative hearings, regulatory meetings, industry conferences, financial news, 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, October 12
Dodgers and Braves open highly anticipated NLCS
While the teams have faced each other three times in the National League Division Series (NLDS) over the last several decades, the series marks the first time they will meet with the NL pennant on the line since 1959. In that year, the Dodgers won two straight to capture the best-of-three playoff tiebreaker. More recently, the Dodgers eliminated the Braves two years ago with a 6-2 victory in Game 4 of the NLDS. At FanDuel Sportsbook, the Dodgers are -220 favorites to return to the World Series for the third time in four seasons. Backers of the Braves will receive odds of +700 for an Atlanta victory in six games, as well as +175 for the NL East champions to win the series outright. If you think the Dodgers will race out to a 3-0 series lead, a prop will pay odds of +370 at FanDuel.
The ALDS and NLDS are set up as the #Astros face the #Rays and the #Dodgers square off with the #Braves. Check out the latest World Series odds here: https://t.co/KhARuw1OsZ pic.twitter.com/en6pC2wTfT
— VegasInsider.com (@TwitVI) October 10, 2020
Tuesday, October 13
AML virtual summit
A distinguished panel of anti-money laundering experts will convene at Casino Essentials’ virtual summit on sports betting Tuesday morning. The panel entitled, “Sports Betting AML Considerations,” features Gregory Lisa, a partner in the Washington D.C. office of Hogan Lovells and former interim director of the Office of Compliance and Enforcement at the Financial Crimes Enforcement Network (FinCEN). Lisa was employed at FinCEN in 2014 when the agency issued a memo on the heightened risks of money laundering in sports betting. Lisa will be joined by Jim Dowling, managing director of Dowling Advisory Group and Lesley Rockwell, a senior vice president at Citigroup. The U.S. Department of Justice announced a $46.8 million settlement with 5Dimes on Sept. 30, several years after the Department of Homeland Security investigated the offshore book for a litany of federal crimes including, but not limited to, “illegal gambling, money laundering, and wire fraud.”
Among the assets seized by U.S. authorities were a 1948 George Mikan rookie basketball card and precious metals.
And according to a #5Dimes press release, the company has already incorporated as 5D Americas LLC in Delaware.https://t.co/WZsHvE6GKG
— Sports Handle (@sports_handle) September 30, 2020
Titans-Bills matchup still up in the air
For the second consecutive week, the Titans had the original start time of a scheduled game postponed amid a COVID-19 outbreak throughout the team’s practice facility in Nashville. The NFL announced Oct. 8 that the league moved a Week 5 meeting between the Titans and Bills to Tuesday evening due to COVID-19 concerns. As of Oct. 9, the Titans organization recorded 23 positive tests dating back to Sept. 24. The rare Tuesday night kickoff is contingent on the Titans not recording any additional positive tests. The Titans reopened the facility on Saturday after recording no positive tests for two straight days. Hardcore NFL bettors should keep an eye on league updates regarding the timing of the matchup. If the NFL decides to hold the game on Tuesday, the league will move a Week 6 matchup between the Bills and Chiefs to the following Monday. The game is scheduled for Thursday night in Orchard Park, N.Y. Both the Bills and Titans face short turnarounds for Week 6 if Tuesday night’s game is held, as scheduled.
A second retail sportsbook in D.C.?
Another company is poised to join the Capital One Arena box office as the second retail sportsbook in our nation’s capital. A business named Handle 19 has applied for an Alcoholic Beverage Regulation Administration (ABRA) license with the District of Columbia, and according to WUSA9, could be approved Tuesday evening. The date coincides with a protest petition deadline for the application. Located in Southeast D.C., Handle 19 plans to open in the former “Stanton and Greene” building on Pennsylvania Avenue. If approved, Handle 19 intends on opening eight sports betting kiosks inside the venue.
Wednesday, October 14
G2E virtual kickoff
For the first time ever, the prominent gaming industry conference known as Global Gaming Expo (G2E) will be held through a virtual platform. Much like many top gaming conferences in 2020, G2E is being held virtually this year due to the COVID-19 pandemic. The two-day conference will be held on Oct. 27-28. Prior to the conference, G2E will host a complimentary kickoff session on Wednesday. The session will feature appearances from three industry leaders who will discuss the path to reopening for casinos nationwide. The virtual platform will then offer a two-week preview for conference attendees, providing session and agenda planning, along with a vendor search, leading to the start of the conference. For the third consecutive year, G2E will feature a comprehensive sports betting summit.
Thursday, October 15
Two casinos up for sports betting licenses in Colorado
At Thursday’s monthly meeting of the Colorado Limited Gaming Control Commission (LGCC), the Commission will consider the sports betting license applications of two casinos — Lady Luck Casino and Isle Casino, both located in Black Hawk. The LGCC will also review two sports betting rules during the hearing, including a rule pertaining to the rights, responsibilities, and duties of Colorado licensees.
Washington State Gambling Commission meeting
The Commission will hear from several problem gaming experts at Thursday’s meeting. During a panel on a credit-card rule discussion, National Council on Problem Gambling Executive Director Keith Whyte is scheduled to testify. Earlier this spring, Washington became the first state to legalize sports betting in 2020 — and it’s the only state to have broadly legalized tribal gaming only. The Commission voted unanimously in late July to open the legal sports betting rule-making process.
Record figures in New Jersey
When the New Jersey Division of Gaming Enforcement (DGE) releases the state’s sports betting figures for September, the Garden State is largely expected to shatter its own record previously set a month earlier. In August, the New Jersey handle came in at $668 million, the largest monthly handle for any state on record, including Nevada. The atypical sports calendar created an unprecedented schedule in September when all four major North American professional sports held play simultaneously. The DGE’s monthly release is scheduled for Thursday afternoon.
Friday, October 16
Tennessee Education Lottery special meeting
Tennessee regulators could provide additional insight on the state’s Nov. 1 targeted launch date at Friday’s meeting. As of Oct. 12, four sportsbook operators — BetMGM, DraftKings, FanDuel and Tennessee Action 24/7 had received conditional approval from the Tennessee Education Lottery (TEL) to go live on the date. Both the Sports Wagering Advisory Council and Board of Directors Sports Wagering Committee will meet on Friday. Any licensing approvals or discussion will be handled by the Board’s Sports Wagering Committee, which meets at 11 a.m. CT, following a 10 a.m. meeting of the Advisory Council.
TENNESSEE:
BetMGM, DraftKings and Fanduel all received conditional sports betting licenses in Tennessee on Wednesday, ahead of a proposed Nov. 1 go-live date. The TEL Board of Directors unanimously approved the companies after three hours of discussion.
— Sports Handle (@sports_handle) September 23, 2020
Have a good week, everyone.
