Industry News of the Day for December 29, 2022
iDEA Growth Member News
- Insider: FanDuel’s Amy Howe Achieves Profitability While Being A Trailblazer In A Male-Dominated Industry
- As the CEO of FanDuel, Amy Howe accomplished a feat this year that so far no other US sports-betting platform has been able to achieve: profitability. The company, whose businesses include fantasy sports, sports gambling, online casino games, and horse racing, in September posted its first-ever profit — when excluding certain costs — and forecast full-year profitability for 2023, at least a year before DraftKings, its closest rival, plans to follow suit.
Industry News
- Sports Handle: Consolidation Of Sports Betting Industry Tops Year’s Business Stories
- Clobbered by the highest inflation rates in four decades and the threat of recession, U.S. financial markets experienced one of their most tumultuous years in recent memory in 2022. Possessing many of the same characteristics as tech stocks, leading names in the sports betting industry were not immune from the rout.
- SBC Americas: mkodo’s Stuart Godfree: Perfecting The Art Of Geolocation
- Geolocation solutions provider mkodo has been making some big strides in the igaming and lottery sectors, notably in the recently legalised Ontario market. Playing an integral role in that progression, as Managing Director Stuart Godfree explains, is the firm’s tried and tested GeoLocs platform.
Minnesota
- KSTP-TV: Legalized Sports Betting In Minnesota Is Not A Sure Thing, But Don’t Bet Against It
- Two controversial bills passed the DFL-controlled Minnesota House in recent years, one legalizing recreational marijuana in 2021 and a measure legalizing sports betting in 2022. However, in both cases the Republican-controlled Senate stood in the way.
Oklahoma
- KOKI-TV: Oklahoma Governor Open To Legalizing Sports Betting In 2023
- Oklahoma Governor Kevin Stitt said he is open to legalizing sports betting in 2023, especially now that sports betting is legal in Kansas. In an exclusive interview with FOX23 News Wednesday, Stitt said his administration has already started looking for ways Oklahoma can not only legalize but implement sports betting in Oklahoma in the near future.
Ohio
- Legal Sports Report: Analysis: Will Ohio Sports Betting Leaders Look Like Neighboring States?
- Sports betting in Ohio is going live, which leads to the next stage of the market launch: speculation of which book will lead the way. One way to determine which Ohio sportsbooks will be most popular is to look at the surrounding states. Michigan was the last of Ohio’s four border states to launch sports betting in March 2020, meaning Buckeye State residents have had nearly three years to travel out of state in nearly every direction to place legal bets.
- PlayOhio: Ohio Sportsbooks Warned About Responsible Gambling Messaging
- Just before Christmas and only a little over a week ahead of the statewide launch of legal sports betting, Ohio regulators sent a sternly worded message to sportsbooks planning to operate in the state, imploring them to do a better job with responsible gambling messaging in sports betting advertising.