Industry News of the Day for June 30, 2023

Industry News

  • Legal Sports Report: Flutter, DraftKings Stock Top Sector Picks From Morgan Stanley Report
    • Morgan Stanley last week picked DraftKings stock (DKNG) and Flutter stock (FLTR) as the “best ways” to invest in the growth of sports, media and sports betting. The 56-page report called out three value drivers surrounding sports and sportsbooks like DraftKings and FanDuel. There will be between 20 million and 30 million online sports bettors by 2025, with DraftKings ($25.66 at Thursday’s close) and FanDuel (Flutter closed at £157.50 on Thursday) representing more than 10 million monthly users each, MS said.
  • PlayUSA: NFL Suspends Four Players For Violating League’s Gambling Policy
    • The National Football League (NFL) suspends four players for violating the league’s sports betting rules. In a statement from the NFL, three players will be suspended for the entire 2023 season, while one player from the Tennessee Titans will be suspended for six games. The NFL gambling policy prohibits anyone in the NFL, including players, coaches and staff, from engaging in any form of gambling in any club or league facility.
  • ESPN: What Are The Various Leagues’ Rules Around Gambling On Sports?
    • MLB and the NBA, NCAA, NFL and NHL fought a nearly 10-year legal battle with New Jersey to stop the state from legalizing sports betting and, in 2018, lost in the U.S. Supreme Court. The landmark decision brought sports betting to the forefront and put more focus on the policies leagues are relying on as the landscape evolves. Now, with more than half the nation offering legal betting, professional leagues and collegiate sports face a new reality and a straightforward business decision about whether to participate in a growing revenue stream that is not without risk.
  • US Bets: Deloitte Study On Sports Fandom A Mixed Bag For Betting Interests
    • With varying degrees of truthfulness, it has become commonplace for every president to begin his annual State of the Union address with “the State of the Union is strong.” Similarly, in its 2023 report on the state of sports fandom in America, Deloitte proclaims that “the current state of sports fandom is strong … for now.” Why the hint of concern? In its survey of more than 3,000 U.S. sports fans aged 14 and older, 68% said they currently participated in sports or had in the past — with about one-third of respondents chalking the single biggest reason for their fandom up to participation in youth sports.


  • Sports Handle: Arizona The Latest State To Top $10 Billion In Sports Wagering Handle
    • Arizona became the fastest state in the post-PASPA era to surpass $10 billion in sports wagering handle, doing so in 20 months after its Department of Gaming reported $535.7 million worth of accepted bets for April on Thursday. The Grand Canyon State eclipsed Illinois, which reached the benchmark in 22 months in February 2022 when excluding two months of no retail wagering in 2020 due to the COVID-19 pandemic. Arizona launched sports betting operations in September 2021 and quickly settled into a top 10 market nationally.


  • TheLines: Kentucky Hiring 14 More Employees As Sports Betting Looms
    • The Kentucky Horse Racing Commission (KHRC) is planning on expanding its personnel as they prepare for Kentucky sports betting. Lawmakers are looking to bring in 14 new employees who will focus on sports betting enforcement and publishing the regulations. This will hopefully aid in keeping Kentucky to its football season launch target.
  • PlayKentucky: Gov. Beshear: Kentucky ‘On Track’ To Launch Sports Betting By NFL Season
    • Kentucky is “on track” to meet its lofty goal of launching the state’s sports betting industry by the NFL’s Sept. 7 kickoff. That’s according to Gov. Andy Beshear, who stuck to his ambitious timeline during his weekly Team Kentucky press conference. “I am thrilled at the speed at which sports betting is moving to become operational here in Kentucky,” Beshear said. ” … We set a very aggressive goal to have it up and running before the first game of the NFL season and I believe we’re on track to do that.”


  • Maryland Lottery and Gaming Commission to Conduct an Online Casino Impact Study
    • The Maryland Lottery and Gaming Commission (MLGC) will conduct an online casino impact study. It will determine the state’s potential outcome of legalizing online casino gaming. The results must be submitted by Nov. 15 to the Maryland General Assembly. The study will focus on the estimated market size, economic results, and effect on problem gambling. Suppose the study finds that online casino gaming would benefit the state. In that case, proponents like state Sen. Ronald L. Watson, D-Prince George’s County, will most likely introduce legislation to legalize it in the 2024 legislative session.


  • Gaming Today: Massachusetts Sports Bettors Self-Excluding at Younger Age Than Casino Gamblers, Data Shows
    • Sports bettors in Massachusetts are enrolling in voluntary self-exclusion at a younger age than casino gamblers, new state data shows. According to data presented to the Massachusetts Gaming Commission on Thursday by MGC Voluntary Self-Exclusion (VSE) Program Manager Long Banh, 80 percent of individuals on the state’s VSE list for sports betting between January and May of this year were between the ages of 25 and 44. The same age group made up 63 percent of VSE enrollments for both casino gambling and sports betting over that period. Only 46 percent of the state’s VSE list for casino gambling was comprised of the 25-44 age group for the same period.
  • PlayMA: Sportsbook Ads In Massachusetts Sports Venues Now Must Say 21+
    • Sportsbooks in Massachusetts will now be required to include “21+” or something similar on ads that can be seen in sporting venues, such as TD Garden, Fenway Park and Gillette Stadium. That decision was made during Thursday’s Massachusetts Gaming Commission meeting by a 3-2 vote. egulatory language that was passed prior to launch of sports betting suggested that operators add a phrase akin to “Must be 21” to any advertisement or branding — including on DraftKings’ Boston headquarters — that appeared anywhere in the state.

New Jersey

  • PlayNJ: Still No Answers On Why State Lawmakers Changed NJ Online Casinos Extension
    • The Associated Press and POLITICO NJ reported that the state Assembly Budget Committee amended the bill for a second time Wednesday evening, authorizing a five-year extension of legal online gaming. The amended text is now posted on the state’s website. The Senate version of the bill was amended Thursday to authorize a five-year extension. Two Senate committees had already approved a 10-year extension before the Assembly’s amendment.

New York

  • Queens Chronicle: Betting Tax Generates $1B For Education In New York
    • State Sen. Joe Addabbo Jr. (D-Woodhaven), the chairman of the Senate’s Committee on Racing, Gaming and Wagering, announced last Thursday that mobile sports betting tax revenue generated $1 billion for education from its Jan. 8, 2022 launch through May 31, 2023, according to the latest report by the NYS Gaming Commission. “Having an additional $1 billion from our nation-leading mobile sports betting business to help our students get the best education possible is a tremendous milestone,” Addabbo said in a prepared statement.


  • SBC Americas: Ohio Regulators Offer Clarity On Prohibited Sportsbook Promotions
    • In a recent update to its FAQ the Ohio Casino Control Commission has made it abundantly clear that promotions like the one Fanatics tried to run around its merchandise and its Ohio online sportsbook. In a communication to stakeholders, the OCCC explained its concern around these deals involving unrelated consumer transactions. The communique also added that the nature of these promotions qualifies as direct advertising and is not considered “generally available.”