Industry News of the Day for April 22, 2021

By iDEA | April 22, 2021

iDEA Growth Member News: 

Sports League News: 

New York: 

  • Legal Sports Report, 4.22.21: Analysis: Why NY Sports Betting Is A ‘Trap’ For Sportsbook Operators 
    • Operators will bid via RFP for a license. There will be at least two platform providers picked with a minimum of four skins. Those platform providers will pay $25 million each for a 10-year license, and will have to share more than 50% of total sports betting revenue. 

Massachusetts:  

Virginia: 

  • Legal Sports Report, 4.21.21: Finally We Know That FanDuel Leads Virginia Sportsbooks To Date 
    • FanDuel Sportsbook leads the state’s six online sportsbooks in handle share, according to preliminary data from launch on Jan. 21 through March. FanDuel had the advantage of launching first in Virginia and has taken 53% of the $628.7 million wagered through March. That is good for about $333 million of handle since launch. (FanDuel mentioned) 
  • IGB, 4.22.21: Virginia Sports Bettors Wager $628.7m From January To March 
    • The Virginia Lottery has released a gaming update for the first months of legal gaming in the state, showing that a total of $628.7m was wagered on sports from the market’s opening on January 21 to March 31. 

Louisiana:  

  • Sports Handle, 4.21.21: Louisiana Lawmakers Start Sports Betting Framework Process 
    • Louisiana lawmakers on Wednesday morning took the first step toward building a framework for legal sports betting when the House Ways and Means Committee moved a substitute bill that sets the tax rate for retail wagering at 10% and the rate for digital wagering at 18%. 

North Carolina: 

Florida:  

  • Legal Sport Reports, 4.21.21: Key Senator Breaks Down Florida Sports Betting Situation 
    • Florida sports betting remains up in the air, but state legislators are preparing for the industry. Sen. Travis Hutson is the chair of the Senate Appropriations Committee, which reported favorably two gaming issues last week. 
  • Tampa Bay Times, 4.22.21: Sports betting may be heading to Florida in deal agreed to by DeSantis, Seminole Tribe 
    • More than half of all states now allow some form of legal sports betting, and if a proposal which has been agreed to in principle between the Seminole Tribe of Florida and the state gets approved by the Legislature in the next week, Florida could be added to that list and at least $500 million could be added to the annual budget. 

Michigan: 

  • MI Bets, 4.21.21: Michigan Online Lottery Winnings Jump 88.4% During Pandemic Year 
    • According to a financial report from the lottery, the fiscal year that ended Sept. 30, 2020, saw $4.25 billion in total operating revenue, a 9.2% increase from $3.89 billion the previous fiscal year. That increase was larger than the 8.5% year-over-year increase between FY 2018 and FY 2019. 

Illinois: 

Ohio:  

Arizona: 

  • Legal Sports Report, 4.21.21: Arizona Sports Betting Regulators Lay Out Timeline To Launch 
    • Less than a week after Gov. Doug Ducey signed HB 2772 and amended tribal compacts to allow sports betting in Arizona, the state’s Department of Gaming outlined its launch process Wednesday. Ducey signed the bill April 15 after a legislative process that at one point appeared potentially doomed. 
  • IGB, 4.22.21: Arizona Regulator Begins Drafting Sports Betting And Fantasy Rules 
    • The Arizona Department of Gaming (ADG) has begun drafting rules for the introduction of fantasy competitions and sports wagering in the state, following Governor Doug Ducey’s signing of House Bill 2772 last week. 
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