Industry News of the Day for June 1, 2022

By iDEA | June 1, 2022

Industry News of the Day for June 1, 2022

iDEA Growth Members in the News 

  • Legal Sports Report, 6.1.22 – Can NY Sports Betting Ops Solve Profit Problem They Helped Create?
    • The NY sports betting market was supposed to be one of the crown jewels of the US. It was the first of the ‘Big Four’ states to go live, featuring 20 million people, a vibrant sports culture and the wealthy risk-takers of Wall Street. To date, though, the tax structure and competitive start to New York sports betting has been more nightmare than dream for sportsbooks. [Jeff Ifrah]

Industry News

  • Play USA, 5.31.22 – Virtual Casinos, Resorts, Lives Await You And Your Avatar in Metaverse
    • Now, metaverse casinos using cryptocurrencies and non-fungible tokens as “legal” tender dealing cards and dice to avatars reach into every jurisdiction with broadband, defying whatever and however well-written gambling laws exist. A block away from Times Square, the idea of them commanded half of the agenda during the iGaming NEXT Conference.

Maryland

  • Sports Handle, 6.1.22 – Why Is Maryland’s Mobile Sports Wagering Launch Taking So Long?
    • “Why is it taking Maryland so long to launch mobile sports betting?” It’s a fair question, and the answer relates to the state’s sports betting legislation. Maryland’s law includes specific language related to diversity and inclusion that makes the process of launching mobile sportsbooks more time-consuming than the process in other states. A fiscal note attached to HB 940 sums up the situation well.

Michigan

New York

  • Play NY, 6.1.22 – Hochul Continues To Tout New York’s Success On Gaming Front, Particularly NY Sports Betting
    • New York Gov. Kathy Hochul remains a gaming advocate. Hochul on Tuesday praised the Empire State breaking the all-time tax revenue record from sports betting in any state in just over five months. Since the Jan. 8 launch of NY online sports betting, the Empire State has generated over $267 million in all-general tax revenue — $263 million via online and $4.3 million from NY’s four commercial casinos (since July 2019).

Ohio

  • WKYC, 5.31.22 – Ohio to announce universal start date for sports betting: What to expect
    • The Ohio Casino Control Commission is set to announce a universal start date for sports betting to begin in the Buckeye State. And it looks like those who were hoping to place a legal wager sooner rather than later will still have some waiting to do. As was announced at a Commission meeting earlier this month, the universal start date for sports gaming in Ohio will officially be announced at the Commission’s meeting on Wednesday, June 1.
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