Industry News of the Day for June 15, 2023

By iDEA | June 15, 2023

Industry News

  • Legal Sports Report: NFL Betting Policies Receive Update Following Rash Of Incidents
    • In an attempt to clamp down on the influx of NFL betting investigations, the league has implemented new training procedures prior to the 2023 season. US Integrity founder and CEO Matt Holt told LSR last week that there are still more NFL betting investigations from last season that have yet to be disclosed, including players making prohibited wagers from their team practice facilities.
  • SBC Americas: Simplebet Enjoys 350% Boost In NBA Markets In 2023 Season
    • Simplebet has noted that its second season of providing NBA bets has proven particularly fruitful, as it witnessed 350% year-over-year growth. The B2B micro-betting firm has provided 90 playoff/play-in game markets during the NBA playoff period. Concluding after the Denver Nuggets defeated the Miami Heat over the five-game series, the NBA was a lucrative market for Simplebet in 2023, as the firm generated nearly $47m across its operator client portfolio.

Kentucky

  • PlayKentucky: Led By Kentucky Derby, Churchill Downs Had $41.2M In Live May Bets
    • Spearheaded by the Kentucky Derby, Churchill Downs reported north of $41.2 million in horse betting handle in May. That’s according to the Kentucky Horse Racing Commission, which released May handle and revenue totals for live horse race betting, simulcast wagering and historical horse racing gaming on Wednesday. Churchill Downs featured 18 race dates, headlined by the Kentucky Derby and its affiliated races to start May.

Massachusetts

  • PlayMA: PlayMA Projects 5% Market Share For Fanatics In MA, Far Behind DraftKings & FanDuel
    • Fanatics started its journey recently at the bottom of the Massachusetts sports betting market. Though there will be a climb ahead, PlayMA is projecting a ceiling of a 5% market share for the apparel company’s sportsbook brand. That means Fanatics could generate up to about $300 million in annual handle. Plenty of action, to be sure, but nowhere near the 10 digits of betting expected each year at behemoths DraftKings and FanDuel.

New Jersey

  • PlayNJ: Bill Introduced To Extend Legalization Of NJ Online Casinos To 2033
    • Lawmakers in Trenton have taken a significant step toward continuing to permit legal online casino gambling in New Jersey. On Monday, a bill proposing a 10-year authorization of NJ online casinos advanced out of a state Senate budget committee. In 2013, New Jersey became the first state to regulate and tax legal online casino gaming. However, the current law permitting online casinos expires in November 2023. The proposed bill, S3075, would extend the authorization until 2033.

North Carolina

  • NC Sharp: Cooper Signs NC Sports Betting Bill; Launch By Mid-June 2024
    • Legal online sports betting will launch in North Carolina between Jan. 8, 2024, and June 14, 2024, after Gov. Roy Cooper signed House Bill 347 on Wednesday morning. Cooper signed the bill in a ceremony at the Spectrum Center in Charlotte. It expands North Carolina sports betting from retail sportsbooks at the state’s three tribal casinos to eight professional sports facilities and up to 12 online sportsbooks. Possible sports betting operators in North Carolina include FanDuel, DraftKings, Caesars, BetMGM and Bet365.

Ontario

  • PlayCanada: Ontario Online Gambling Supports 12,000 Jobs, Contributes $1.6 Billion To GDP
    • A report conducted by Deloitte and released today by iGaming Ontario estimates the open Ontario online gambling betting market supports more than 12,000 full-time equivalent jobs and contributes almost $1.6 billion to the province’s Gross Domestic Product. The GDP figure includes more than $900 million in labour income.

Rhode Island

  • PlayUSA: Rhode Island Online Casino Bill Ready For House Floor Consideration Thursday
    • Rhode Island is moving quickly toward the legalization of online casino. The House Finance Committee advanced companion online bills from each chamber to the floor by a 10-2 vote Tuesday. The committee amended HB 6348 to match SB 948, the bill passed 30-4 by the Senate last week. Both pieces of online casino legislation are on the House calendar for possible final passage Thursday.

Tennessee

  • The Center Square: Tennessee Collected $7.1M In Sports Gambling Taxes In May
    • Tennessee collected $7.1 million in privilege taxes on mobile sports betting in May, which is nearly $2 million more than the state would have collected under a new tax structure set to begin on July 1. Tennessee taxes sportsbooks 20% on adjusted gross income for now but will shift to a 1.85% tax on gross wagers starting in July. Over the past two years, most of the state’s sportsbooks were not hitting a 10% profit mark required by the state.

Texas

  • KETK-TV: East Texas Casino Steps Up Advertising After Efforts To Expand Gambling Fail In Legislature
    • After efforts to expand gambling in Texas failed in Austin this year, the Nasklia Casino in East Texas is still rolling the dice aiming to get new customers. Naskila Casino is one of three legal gaming facilities in Texas. They’re hoping to attract new players with billboards like the one in Bullard. “It’s so exciting to see those signs, you know, you can’t wait until you get there,” said Whitney Williams, the Social Media Specialist at Naskila Casino. Williams explained they are looking to grow.

Vermont

  • Sports Handle: It’s Official! Vermont Governor Signs Sports Betting Bill Into Law
    • Vermont Gov. Phil Scott Wednesday made his state the third this year to legalize sports betting when he signed H127, a digital sports betting bill that will allow up to six platforms in the Green Mountain State. Scott’s signature made it so that every New England state has legalized, and New Englanders will be able to wager from Connecticut to Maine once both Maine and Vermont launch betting.
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