Industry News of the Day for December 28, 2022

Industry News

  • Wall Street Journal:
  • Legal Sports Report: Opinion: Why Loss Of PredictIt Will Not Be A Positive For Society
    • While the fate of PredictIt, the election-based prediction market, is not yet sealed, the future seems uncertain at best. The company, the site, and some of its investors are challenging the Commodity Futures Trading Commission’s (CFTC) decision to pull a 2014 No-Action letter that was the site’s genesis. On December 1, 2022, a federal court in Austin, Texas, heard a motion filed by the CFTC to have the case dismissed.
  • Sports Handle: Bold Predictions For The U.S. Sports Betting Industry In 2023
    • Covering sports betting and the industry for a living teaches one to expect the unexpected. No lead is safe (especially when a Matt Ryan-quarterbacked team is involved), upsets will happen (Saudi Arabia over Argentina!?), and nothing is forever, at least in familiar form (Twitter). Now is a moment to reflect and make semi-rational but perhaps wildly inaccurate predictions about what the next calendar year will hold for the industry we hold dear.

New York

  • Legal Sports Report: Lawmaker: NY Sports Betting 51% Tax Rate Likely To Stay
    • New York online sports betting operators will likely still be paying a 51% tax rate in 2023. Despite their constant complaining, Assemb. Gary Pretlow told LSR he’s “pretty sure” the controversial online NY online sports betting tax rate will stay the same next year.


  • PlayUSA: AGA Praises Ohio’s Sports Betting Regulations In Advance Of Sunday Launch
    • The American Gaming Association (AGA) says Ohio sports betting regulations will allow customers to gamble safely while protecting big-money bettors. Ohio regulators approved several sports betting options for Ohioans, including roughly 1,000 bars, restaurants, bowling alleys, and grocery stores. Each location will host self-serving kiosks where customers 21 years and older can place a maximum bet of $700 per week.