Industry News For The Week Of April 20, 2025
Industry News
- Legal Sports Report: Sportsbooks Gear Up for Record Kentucky Derby Betting
The 151st Kentucky Derby is set for May 3 at Churchill Downs, marking one of the most important betting days of the year for US sportsbooks. According to Churchill Downs, last year’s main event drew a record $210.7 million in wagering handle, surpassing the previous year’s $188.7 million. Across all 14 Kentucky Derby races, total handle reached $320.5 million, up from $288.7 million in 2023.
Colorado
- Legal Sports Report: Lawmakers Look To Tax Colorado Sports Betting Promos
Colorado lawmakers could make a change by requiring sports betting operators to pay taxes on promotional bets. Colorado sports betting tax revenue has long provided money for water programs in the Rocky Mountain State, and now it could be looking for more. A group of lawmakers has introduced House Bill 1311, which could generate $12 million for water conservation efforts.
Hawaii
- Legal Sports Report: Gov. Green Reiterates Hawaii Sports Betting Support
A Hawaii sports betting bill is still waiting for its date with a conference committee, but Gov. Josh Green is ready to approve the legislation. Green said this week, per Hawaii News Now, that he will not veto a Hawaii sports betting bill if it reaches him. However, he does need the bill to include proper safeguards.
New Jersey
- Bonus.com: Task Force Finds New Jersey Has Surplus of Money Available to Address Responsible Gambling Efforts
New Jersey hasn’t spent a large portion of the money it has available to address problem gambling, according to a report released this week by the state’s Responsible Gambling Task Force (RGTF). To date, only about half of the funds earmarked for harm reduction efforts have been used. The report makes recommendations for the state’s responsible gambling efforts in other areas, including mandatory addiction warnings in gambling advertisements and annual studies to assess the state of problem gambling in New Jersey.
New York
Legislation in the New York Assembly suggests tighter controls over sports betting operators and their ads. The bill would increase gambling companies’ restrictions regarding advertising content and when those ads can air. It would also impose a $5,000 bet limit and restrict the number of deposits a user can make in 24 hours. While the proposed changes could be packaged as measures to promote responsible gambling among New Yorkers, they could also limit regulated sportsbook operators’ ability to compete with unregulated channels in New York.
Pennsylvania
- PlayUSA: Pennsylvania Governor Makes State’s Multi-State Internet Gaming Agreement Participation Official
Pennsylvania has officially joined the Multi-State Internet Gaming Agreement, giving poker players in the state more options for their bets. As of April 28, any poker licensee ready to start seating Pennsylvanians with their peers in other states can legally do so. For online poker in the United States, adding players from the Keystone State is a massive development due to the state’s population and revenue potential.
South Carolina
- Legal Sports Report: SC Sports Betting Discussion Pops Up
South Carolina lawmakers held their first hearing for SC sports betting, but it came with plenty of opposition. On Tuesday, the South Carolina House Ways and Means Revenue Policy Subcommittee heard H3625, which would legalize online sports betting in South Carolina. The legislators also heard H4176, which would establish the South Carolina Gaming Commission. That bill also would allow the commission to issue casino licenses in certain counties.