Industry News of the Day for July 11, 2023

By iDEA | July 11, 2023

Industry News

  • Sports Handle: Barstool Sportsbook Shut Down For 72-Hour Platform Overhaul
    • Barstool Sportsbook is in the midst of several days of shutdown of betting, deposits, and withdrawals while it overhauls its platform with new technology. The sportsbook’s customers in 16 states were informed by email late Friday of the shutdown, which began Sunday evening to take advantage of the slow sports calendar coinciding annually with MLB’s All-Star break.

Kentucky

  • PlayKentucky: Monday Was A Huge Day For Kentucky Sports Betting. Here’s What Happened
    • Kentucky took a major step toward launching its sports betting industry Monday.  Gov. Andy Beshear was also on hand at the KHRC meeting, held at Red Mile in Lexington, to hold a press conference to discuss launch timeline. That timeline? Retail sportsbooks will launch Sept. 7, and online sportsbooks on Sept. 28.

Maine

  • PlayUSA: Questions Abound In Maine With Champion’s Return As MGCU Director
    • Maine Gambling Control Unit (MGCU) Executive Director Milton Champion is back on the job after the state meted out discipline to him for social media posts that displayed a misogynistic attitude and defended a violent white supremacist group. While Champion has apologized for the posts, questions remain about his fitness to fulfill the role moving forward.

Maryland

Ohio

  • SBC Americas: Opposition Questions Wisdom Of Ohio’s New 20% Sports Betting Tax Rate
    • The new 20% tax rate on Ohio sportsbooks is in effect, but there are plenty who do not believe this is a wise choice for the Buckeye State. The state legislature passed the new rate as part of the budget at the end of June with the new rate set to take effect on July 1. The new tax rate is in place, but anecdotal stories from Ohio suggest not much has changed for bettors in the state.
  • PlayOhio: Ohio Gives Regulators Power To Ban Sports Bettors Who Threaten Athletes
    • Ohio has formally given gambling regulators the green light to ban bettors from sports betting in the state if they are found to have threatened athletes or others associated with a sporting event. The provision was included in Ohio’s 2024-2025 operating budget, which Gov. Mike DeWine signed into law on July 5.

Virginia

  • PlayVirginia: After Money Infusion, Jake Paul’s Betr Eyes Virginia Sportsbook Launch
    • With over a dozen online sportsbooks and a handful of legal casinos, Virginia’s gambling market is strong. It could soon, however, be getting a little bit stronger. Betr announced on June 27 a $35 million Series A2 round of financing. That money provides Betr with more cash flow to begin introducing full sportsbook capabilities to its platform and expand into new markets.

West Virginia

  • The Center Square: West Virginia Collected $20.8M In iGaming And $5.3M In Sports Gambling Taxes
    • West Virginia collected $20.8 million in taxes on iGaming and $5.3 million on sports gambling during the recently completed fiscal year. The numbers are increases from the $12.9 million collected on iGaming and $4.5 million on sports wagering in Fiscal Year 2022. There were $4 billion in iGaming wagers in the recently completed fiscal year with the casinos making $139 million off those wagers.
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