Industry News of the Day for May 16, 2023
Industry News
- Legal Sports Report: Fanatics Buying PointsBet US Sports Betting Business For $150 Million
- Fanatics will buy the US business of PointsBet for $150 million, the company announced Monday morning in Australia. The sale includes PointsBet‘s sports betting, iGaming and advanced deposit wagering businesses, as well as recent acquisition Banach, which develops its in-play technology. Fanatics also gets a copy of PointsBet proprietary technology, though PointsBet retains ownership of the platform, according to the release.
- PlayUSA: The Short-Lived Marriage Of Gambling Companies And College Sponsorships
- After the Supreme Court’s decision in 2018 to let states legally promote sports gambling on campuses, many things have changed. To start, leading gambling companies in the US have been competing to turn traditional casino players and sports fans into online bettors. In doing so, they even targeted educational institutions and campuses to help them better promote online casinos and sportsbooks.
- The New York Times: First Came The Sports Betting Boom. Now Comes The Backlash.
- Legislators and regulators who began the headlong expansion of legalized gambling in the United States are now moving in spots nationwide to tighten oversight of the gambling industry, particularly as it relates to advertising that may reach underage bettors.
Kentucky
- PlayKentucky: How Understaffing In Kentucky Could Cripple Sports Gambling Regulation
- The Kentucky Horse Racing Commission has only two employees charged with enforcing gambling regulations. It’s an understaffed section of a division that’s about to regulate a new form of gambling. Sports betting is expected to launch by the end of 2023. Online sports betting in Kentucky, specifically, will make gambling available on smartphones statewide.
Massachusetts
- PlayMA: April Numbers Show DraftKings Building Lead Over FanDuel In MA Market
- DraftKings again beat FanDuel for top spot in the Massachusetts sports betting market in April, the first full month with online sports betting in the state. That’s according to the Massachusetts Gaming Commission, which released April sportsbook handle and revenue totals Monday. DraftKings took in the most handle at $283.8 million — or 52% of the market — and FanDuel took in $172.6 million — or 31.6% of the market.
Nevada
- The Nevada Independent: Nevada Sportsbooks Flourishing Five Years After Sports Betting Goes National
- Jay Kornegay vividly recalls the Monday morning on May 14, 2018, when the trajectory of Nevada’s sports betting industry was changed by the U.S. Supreme Court. Unlike some of his counterparts, Kornegay didn’t fret.
Ontario
- SBC Americas: Ontario Market “Number One In The World” Including OLG Figures
- The Ontario igaming market is arguably “number one in the world” in terms of revenue if the iGaming Ontario and OLG figures were combined, according to an official from the provincial lottery corp. Andrew Darley, VP of iCasino and iLottery at OLG, made the claim on an Ontario-focused session at SBC Summit North America, and explained that OLG’s figures are confidential but substantial enough to challenge the biggest global markets.
Texas
- PlayTexas: Lt. Gov. Patrick Squashes Texas Sports Betting Dreams
- In the span of about 24 hours, gambling expansion in Texas went from having little hope to having no hope. The House on Thursday passed House Joint Resolution 102, which would legalize online sports betting in Texas through a constitutional amendment, and its enabling legislation, House Bill 1942. However, that appears to be the last bit of good news for gambling expansion proponents, and all eyes now turn to 2025.