Industry News of the Day for August 24, 2023

By iDEA | August 24, 2023

Industry News

  • Legal Sports Report: Analysis: PredictIt Wins At Court Of Appeals In US Election Betting Case
    • Friday was a big day for US election betting site PredictIt as the Fifth Circuit Court of Appeals in New Orleans gave the company a big win it has been hoping for since the Commodity Futures Trading Commission (CFTC) revoked a no-action letter that provided the site with a form of legal cover. PredictIt has operated since 2014 under a no-action letter that CFTC issued to a New Zealand university.
  • PlayUSA: Steve Friess: Problem Gambling Advocates Must Get Real About National Hotline Problems
    • I thought maybe I’d get an honest answer on the radio. Instead, the lady from Maryland gaslit our audience. So here I am to set the record straight. A few weeks ago, I was invited on a live program called Midday on NPR’s Baltimore affiliate, WYPR, during an hour devoted to problem gambling to discuss some recent State of Play columns. In one, I took apart a shoddy study that claimed that the prevalence of gambling disorders in Maryland was double the national rate.
  • Sports Handle: U.S. Commercial Sports Wagering Handle Surpasses $250 Billion Post-PASPA
    • The rampant popularity of sports wagering across the United States is showing no signs of slowing down, as total handle in jurisdictions with commercial betting recently cleared $250 billion in the post-PASPA era. It was a quick leap in terms of a $50 billion interval, with just five-plus months to go from $200 million to $250 million. It was an eight-month span to get from $150 million to $200 million, a threshold crossed in early March.
  • Bonus.com: Life After Barstool: Can Penn Rejuvenate Its Hollywood Online Casino Brand?
    • Penn Entertainment’s split from Barstool and new partnership with ESPN have attracted so much attention that relatively little has been made of its plans to rekindle its Hollywood Online Casino brand. The ESPN branding will only apply to sports betting, so having parted ways with Barstool and its founder, Dave Portnoy, Penn needed a new name for its online casino—or an old one.
  • TheLines: President Of U.S. Integrity Tells TheLines About New Role As Big 12 Conference Watchdog
    • The Big 12 Conference and U.S. Integrity announced their newfound partnership on Wednesday. It will assist the league with monitoring software and tools. In turn, the independent Las Vegas-based firm aims to play a critical role in negating student-athletes and others in positions prohibited from betting from engaging in sports wagers, which includes Big 12 betting.

Kentucky

  • SBC Americas: Churchill Downs To Bring Retail Sports Betting To Six KY Locations
    • Churchill Downs Incorporated has confirmed it will offer retail sports betting from six of its Kentucky locations after receiving approval from the Horse Racing Commission. From September 7, when sports betting will legally commence in the Bluegrass State, the race track operator will begin accepting in-person wagers at its facilities in Louisville, Florence, Newport, Oak Grove, and Henderson.

Michigan

  • PlayMichigan: Michigan Online Sportsbooks Stay On Pace For Record Revenue In 2023 After July’s $22.5 Million
    • Michigan sports betting continues to bring in greater revenue despite declining wagers from a year ago. In July, Michigan sportsbooks recorded $208.8 million in handle, an 11.5% decrease from June and a 7.2% decrease from July of 2022. Still, online sports betting revenue came in at $22.5 million last month, a 4.1% increase from a year ago. It continues a trend for 2023 that sees the state on pace to set a new yearly online sports betting revenue record.

North Carolina

  • PlayUSA: No Chance For North Carolina Online Casino Legalization This Session
    • One North Carolina lawmaker poured cold water on any chance of online casino sneaking into the state budget. “Not a chance in hell,” Sen. Jim Perry told PlayUSA. Raleigh news station WRAL recently reported that internet gaming advocates are lobbying for online casino’s inclusion if North Carolina opts for another gambling expansion late in the session.
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