Industry News of the Day for August 15, 2023

By iDEA | August 15, 2023

Industry News

  • Legal Sports Report: ESPN Bet First Look: What We Can Expect From New Sports Betting App
    • Penn Entertainment fired a shot across the industry’s bow last week, securing the most coveted branding partnership in US sports betting through a deal for ESPN Bet. Disney finally loaned the ESPN name to a gambling company, locking in a guaranteed $150 million in annual payments from Penn for the next 10 years in exchange for the use of its brand and the marketing apparatus behind it. Penn expects to spend another $150 million per year on off-channel marketing and advertising to support its new endeavor.
  • SBC Americas: IGT: There Are Plenty Of Reasons To Get Excited About The NFL Preseason
    • As the clock ticks down to college and professional football season, most of the sports betting chatter turns to the gridiron. Will the Eagles and the Chiefs come back strong? Injury lists. QB trades; the list goes on and on. And although the ramp-up to football is like no other in the US sports betting sector, sports betting industry Hall of Famer and IGT President of Sports Betting Joe Asher notes that there are additional, noteworthy events going on in the sporting world that are influencing betting behaviors and driving play in the “summer slump,” the traditionally slower period in the sports betting calendar.
  • Sports Handle: Colleges Emphasize Sports Wagering Education Ahead Of Fall Season
    • Matt Holt, the founder and CEO of U.S. Integrity, says his company visited five college athletic departments for on-site sports wagering educational sessions last year. This year, he’s received requests from about 50 schools.  “It’s been unbelievable growth,” Holt said. The increased desire for sports betting education comes as the college sports industry has been hit with numerous violations.

Florida

  • PlayUSA: West Flagler Asks DC Court For Rehearing Of Seminole Compact Case
    • Legal maneuvering could push back the relaunch of Florida sports betting past the start of the NFL season. West Flagler Associates filed a petition Monday for a rehearing en banc with the DC Circuit US Court of Appeals. En banc means the case would go before all 11 judges in the circuit court. A three-judge panel previously decided the case.

Kentucky

  • Gaming Today: More Kentucky Sports Betting Interest Near Indiana, Ohio Borders: GeoComply Data
    • Legal Kentucky sports betting is expected to yield between $150 million and $200 million in taxable revenue each year — most of that from online sportsbooks. Those online bets can be placed anywhere statewide through an account with a licensed sportsbook starting Sept. 28. So where will most Kentucky sports bettors be tapping their apps?  Most Kentucky online sports betting engagement was concentrated in the Louisville metro area and in northern Kentucky during March Madness — the most recent major sports betting month of the year.

Illinois

  • PlayIllinois: Illinois Sports Betting Numbers Down Sharply In June, But There’s A Silver Lining
    • Illinois sports betting numbers continued a sharp decline in June, but, comparatively speaking, the state is one of only two that is bucking an overall national downward trend. And, Illinois continues to further solidify its position as the country’s second biggest sports betting jurisdiction. Numbers released today by the Illinois Gaming Board show Illinois sportsbook sites had total bets (called handle) of nearly $666 million in June. 

Indiana

  • PlayIndiana: Indiana Sportsbooks Stay Above $200 Million In July Betting Volume
    • The news wasn’t all bad for Indiana sports betting in July. Typically the slowest month of the year, Indiana sportsbooks accepted $203.8 million in wagers in July. It was the lowest handle in 2023 and marks the 10th-straight month with declines in betting volume. However, July’s Indiana sports betting handle dropped just 1.4% year-over-year, outperforming the state’s 10.7% drop in total handle for the year.

Maryland

  • WJZ-TV: Maryland Lottery And Gaming Generated Aver $1.5B For The State This Fiscal Year; Casinos Contribute $848M
    • Maryland Lottery and Gaming said Monday it contributed over $1.5 billion to the state through the lottery, six casinos, sports wagering and fantasy sports in the Fiscal Year 2023. The revenue supports the state’s schools, public health, public safety and other state services. The agency said it is the state’s fourth-largest source of revenue after income, sales and corporate taxes. The Lottery made $714 million for the state from $2.7 billion in sales, the agency said, up 3.8% from the last fiscal year.

North Carolina

  • NC Sharp: Analysis: North Carolina Sports Betting Will Be Pivotal To ESPN Bet’s Success
    • Penn Entertainment and ESPN rocked the sports betting world last week and set lofty goals for their new partnership. North Carolina will be critical in determining whether those goals are reached. Penn and ESPN are collaborating to launch the online sportsbook ESPN Bet. In the process, Penn has dumped its previous sportsbook partner – Barstool Sports. Barstool is the latest media-branded sportsbook that failed to gain traction and succeed in the competitive US sports betting market.

Pennsylvania

  • PlayPennsylvania: New Partnership To Help BetMGM Regain PA Online Gambling Share
    • The competition among Pennsylvania online casinos is fierce. Operators are consistently partnering with new companies or developing in-house games to release the best content possible for players. Though BetMGM PA Casino is one of the top operators in the Keystone State, it reported a slight loss in online casino market share in Q2. BetMGM appears to be taking a page out of its competitors’ book, DraftKings, to start investing in cross-sell opportunities from sportsbook players.
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