Industry News of the Day for May 17, 2021

iDEA Growth Member News: 

• ESPN, 5.14.21: 3-year evolution of American sports betting: From taboo to revenue [FanDuel, PointsBet, DraftKings and CEO Jason Robins mentioned] 
  • On May 14, 2018, the U.S. Supreme Court struck down a federal statute that for 26 years had restricted regulated sports betting to primarily Las Vegas. Everywhere else, one of America’s oldest pastimes — betting on sports — was relegated to the shadows. 
• SBC, 5.14.21: Kambi’s State of the Nation: Our US Sports Betting Journey Post-PASPA – In Numbers 
  • In this month’s edition of Kambi’s State of the Nation, which offers a breakdown of the US betting industry, Sarah Robertson (pictured) – VP Sales at Kambi – reflects on the last three years of legalized sports betting and how Kambi has been at the forefront of the market’s development. 

Overall Industry News: 

• Sports Handle, 5.15.21: Get A Grip: PASPA Anniversary, Sportsbook Advertising Impact, LA, ME, WA, More 
  • PASPA fell three years ago Friday, Louisiana bill moves to Senate floor, Maine lawmakers still studying, Washington State reaches deals with 13 tribes, and more. 

New Jersey: 

• Legal Sports Reports, 5.14.21: New Jersey Sports Betting Back To Normal April After Difficult 2020 
  • NJ sports betting handle hit $748 million in April, according to a state report. That represented the highest monthly total for April 2021 among states that reported to date. 
• Online Poker Report, 5.14.21: New Jersey Online Casinos Experience A Rare Stumble In April, Amidst A Run Of Otherwise Steady Growth 
  • Online casinos, poker rooms and sportsbooks in New Jersey all experienced a month of decline. Total revenue for iGaming – that is, online casino and poker – amounted to $107.7 million in April, compared to $113.7 million in March. Sports betting – both retail and online – dropped from $60.8 million to $54.8 million. 
• IGB, 5.17.21: New Jersey Gambling Revenue Rockets 326.4% YoY in April 
  • Gambling revenue in New Jersey jumped 326.4% year-on-year to $352.2m in April as the US state continued its recovery from the novel coronavirus (Covid-19) pandemic. 
• SBC, 5.17.21: New Jersey sportsbooks see slower action to $750m in April 
  • A widely anticipated seasonal dip in activity saw sportsbooks in New Jersey experience a slowdown in betting volume to less than $750m in April. 

Florida: 

• Legal Sports Report, 5.17.21: Florida Sports Betting: What To Expect From The Special Session 
  • The Florida special legislative session kicks off today, as lawmakers meet to discuss the state’s gambling compact with the Seminole Tribe that includes sports betting. 
• Sports Handle, 5.14.21: Florida Legislature Meeting Monday To Start Hearings On Sports Betting, Gaming Compact In Special Session 
  • On Friday, Sen. Travis Hutson filed nine bills related to the implementation of the 2021 gaming compact between the Seminole Tribe of Florida and state of Florida. All nine have been referred to the Committee on Appropriations, which contains half of the Senate membership. 
• IGB, 5.14.21: Florida Legislature Takes First Step To Ratify Seminole Betting Compact 
  • Florida Senator Travis Hutson has introduced a bill to implement a compact that will allow the Seminole Tribe to launch sports betting. 
• NBC Miami, 5.16.21: Florida Legislature Set to Reconvene for Special Session on Gambling, Sports Betting 
  • Florida lawmakers reconvene Monday for a special session to consider a new 30-year gaming compact between the state and the Seminole Tribe that would expand gambling and legalize sports betting in the country’s third most populous state. 

Nebraska: 

• Action Network, 5.13.21: Nebraska Amendment Brings Latest In-State College Betting Ban 
  • Nebraska lawmakers removed in-state college betting language from a sports betting and casino gaming bill Thursday, the latest legislature to ban bettors from wagering on collegiate athletics. 

Michigan: 

• Play Michigan, 5.14.21: Michigan Hits $1 Billion In Online Sports Bets With $249.9 Million In April Wagers 
  • The Michigan online sports betting industry is the fastest in U.S. history to reach $1 billion in wagers. 
• Legal Sports Report, 5.14.21: Michigan Sports Betting Dips In April As Sports Calendar Slows 
  • Michigan sports betting activity took a major step back in April as the sporting calendar entered a seasonal lull. Monthly handle dropped 26% to $274.2 million, with revenue dropping 38% to $21.9 million. 
• Online Poker Report, 5.15.21: In Just Over 3 Months, Michigan’s $280 Million iGaming Market Becomes Industry Benchmark 
  • Michigan is becoming the benchmark by which online gambling operators are measuring their success. During the fewer than four months since Michigan launched iGaming, the state’s seen more than $280 million in revenue in that pair of verticals (online casino and online poker), according to numbers released today by the Michigan Gaming Control Board (MCGB). 
• IGB, 5.17.21: Michigan Revenue Falls in April After March Madness Boom 
  • Michigan online betting and gaming operators brought in $115.2m in April, a drop of 9.5% after March Madness helped to bring March’s revenue to $127.4m. 
• SBC, 5.17.21: Michigan Sportsbook Revenue Slows In April As Sporting Calendar Loses Momentum 
  • Michigan was among the latest US states to experience its first month-on-month decline in sports betting revenue since launching online sports betting earlier this year, due to a slowing of the sports calendar in April. 
• MI Bets, 5.14.21: Former Michigan Rep. Brandt Iden Recalls When Sports Betting Became Real 
  • “I was sitting in my car, listening to it on some XM channel that had SCOTUS, and they announce what’s happening, and I’m going nuts,” Iden recalled. “I’m calling my buddies, saying ‘Wow, this is really going to happen.’ It was a good day.” 
• MI Bets, 5.14.21: Online Casino Numbers In Michigan Continue Their Steady Climb [DraftKings and FanDuel mentioned] 
  • Total gaming taxes for the month came to $17.8 million, up 3.3% month-over-month, which buoyed the whole of the internet gaming industry in Michigan, as the sportsbooks took a hit in April. 
• MI Bets, 5.14.21: Michigan Sportsbooks Take $250 Million In Bets In April 
  • With no major sporting events on the calendar and March Madness fading into memory, the online sportsbook handle in Michigan took a big hit in April, with $249.9 million in bets placed, a decrease of over 30% from March’s $359 million. 

Illinois: 

• Play Illinois, 5.14.21: Show Me The Money: Senate Bill Wants To Know How Much Revenue Online Casinos Would Bring 
  • An Illinois Senate Resolution wants to look at how much tax revenue the state could have been generated had online casino gaming became legal in February 2020. 

Ohio:  

• IGB, 5.14.21: Ohio Problem Gambling Charity Raises “Underregulated” Electronic Bingo Concerns 
  • The Problem Gambling Network of Ohio warned of the number of electronic bingo machines – which it said were effectively “underregulated slot machines” – that could be installed across the state if Senate Bill 176 is enacted.