Industry News of the Day for January 8, 2024

By iDEA | January 8, 2024

Industry News

  • Covers: Illegal Online Gambling Market Still Robust Despite Legalization Of Sports Betting Over Much Of USA
    • America has an illegal gambling problem. While legal sports betting has been adopted in 37 jurisdictions, with Vermont joining the fray on Jan. 11, there are still a number of states that do not allow sports betting. And as a result, residents that reside in those states have been seeking alternative measures to place sports bets. The matter was discussed this week at the National Council of Legislators from Gaming States winter meeting in Fort Lauderdale, Florida during a general session on illegal gambling in the retail and online markets.

California

  • Legal Sports Report: California Sports Betting Petitions Going Public This Weekend
    • Proponents plan to put 1.2 million petitions on the street this weekend, beginning their signature-gathering effort for the proposed California sports betting initiatives, organizer Kasey Thompson told LSR.  Their signature-gathering effort, which faces staunch opposition from gaming tribes in the state, could cost $25 million. The state Attorney General on Tuesday prepared a title and summary for the proposed California sports betting initiatives, putting the effort in motion. Thompson told LSR that the proponents will go through with the signature-gathering campaign as long as they can garner support.

Colorado

  • PlayUSA: Novig Launches Colorado Sportsbook With Sights Set On Exchange Betting
    • Three months ago, Novig was a sports betting firm with a license in Colorado and dreams of becoming the state’s first exchange betting platform. This week, the company cleared a major hurdle toward its exchange aspirations by launching a non-exchange online sportsbook in the Centennial State. Novig offers the usual types of bets — moneyline, spread, and total market. Players can bet on the NFL, NBA, NCAA football and basketball, and MLB. At the moment, it doesn’t offer prop bets, futures, parlays or same-game parlays.

Massachusetts

  • The Salem News: EDITORIAL: Gambling Revenue A Welcome Boost To Massachusetts State Coffers
    • A headline in last week’s newspapers was pretty self-evident: “Mass. hits new sports wagering record.” As many predicted, the number of people interested in online betting in this state — and at least 35 others — is huge. And the amount of money coming in from those bettors is likewise gargantuan. According to a story by Statehouse Reporter Christian Wade, a report issued by the Massachusetts Gaming Commission [December 19] showed that retail and online sports betting operations took nearly $655 million in wagers during the previous month, drumming up nearly $49 million in revenue for the businesses.

New York

  • SBC Americas: Addabbo Reintroduces New York Online Casino Bill
    • As expected, New York State Sen. Joseph Addabbo is once again making a push to bring online casinos to the state. This week, Addabbo re-upped S4856, a bill that would expand gaming in the state to include igaming. The bill is the same one presented in 2023 that failed to gain any traction. The bill would allow as many as 21 operators in the state. The bill explicitly states that it would not expand the existing list of operators in the state. The industry would be taxed at 30.5%.
  • PlayNY: Record-Breaking December Closes Out Historic 2023 For NY Sports Betting
    • New York online sportsbooks closed out 2023 with a bang, setting a new monthly revenue record in December and taking in more than $2 billion in legal bets for the third straight month. All told, NY sportsbooks reported over $188.3 million in gross gaming revenue last month, according to data from the New York State Gaming Commission. December’s NY sports betting total bested the previous monthly high of $166.3 million set in October 2023. Online sportsbook operators in the Empire State reported nearly $1.7 billion in NY sports betting revenue in 2023.

North Carolina

  • Gaming Today: North Carolina Lottery Commission Details Key Requirements for Sports Betting Rollout
    • North Carolina is on the cusp of launching legal sports betting within its borders to the excitement of enthusiastic bettors. However, an exact launch date remains undisclosed, as the focus lies on the preparatory steps being set by the state’s regulatory body and the prerequisites for potential operators. To that effect, the North Carolina Lottery Commission’s Sports Betting Advisory Committee had its first meeting of the year on Thursday. During the session, the regulators shed some details on the Tar Heel State’s processes ahead of its highly anticipated sports betting launch.
  • NC Sharp: DraftKings, BetMGM Partner With NASCAR, Speedway For Online Sports Betting Access In NC
    • Two of the most prominent brands in sports are teaming up in North Carolina in advance of the pending launch of online sports betting in the state. DraftKings and NASCAR are partnering to enable the former to operate its popular sportsbook in North Carolina when the market opens later this year. In addition, BetMGM Sportsbook partnered with Charlotte Motor Speedway and the Catawba tribe filed for an online license in a flurry of Friday activity. By law, a sports betting operator like DraftKings can gain access to the NC market via “written designation agreement” with a professional sports league.
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