Industry News of the Day for May 19, 2022
iDEA Growth Members in the News
- Play Pennsylvania, 5.19.22 – Morgan Stanley Predicts The State of Sports Betting and Online Casinos in 2025
- Morgan Stanley predicts the U.S. sports betting industry growing to $12.8 billion by 2025. Pennsylvania would account for $701 million in yearly gross gaming revenue with New York leading all states with $1.7 billion in revenue in 2025. It would represent a massive increase from $400 million in 2018 driven by widespread legalization. In 2021, sports betting revenue was $4.3 billion. FanDuel (30%) and DraftKings (23%) are expected to be market share leaders in 2025.
Industry News
- Online Poker Report, 5.18.22 – Chicago And New York City Retail Casino Projects May Facilitate Online Gambling Expansion
- All states which currently have legal iGaming also have well-established retail casino backbones. To that end, Chicago and Downstate New York are strengthening their spines, perhaps suggesting that legal online casino gambling won’t be far behind.
- Play USA, 5.18.22 – 2022 Gubernatorial Races & Gambling: Two Northeastern Elections With Implications For The Future
- In all but 14 states this November, voters will select their next governor. The winners of those 2022 gubernatorial elections will have a role in determining public policy in those states on a wide array of issues. In some states, that’s likely to include gambling.
- Play USA, 5.18.22 – Voice Command Betting Could Soon Make Cars Rolling Rush Hour Sportsbooks
- Connected Travel LLC, a vehicle tech platform, Radioline, a global business-to-business radio and podcast solutions developer, and gambling tech platform Simplebet in April announced plans to launch free-to-play and sports betting platforms.
California
- Legal Sports Report, 5.19.22 – Fanatics Backs California Sports Betting Push Without Clear Market Path
- California will have at least one online sports betting question on the ballot in November. However, the measure itself appears to exclude one of its biggest backers from the market.
Maryland
- Legal Sports Report, 5.19.22 – Online Maryland Sports Betting In 2022 Likely Dead
- A lengthy bureaucratic process for Maryland sports betting continues to have no end in sight. The Maryland Sports Wagering Application Review Committee met again Wednesday with little movement. The SWARC is tasked with establishing guidelines for awarding competitive licenses and ensuring minority- and women-owned business participation in the MD sports betting industry. With the continued delays in mind, an industry source recently told LSR that a launch by the 2023 Super Bowl is likely a stretch. Previously, a top MD regulator told LSR that an online MD launch might come in late 2022.
Michigan
- Play Michigan, 5.19.22 – Schools, First Responders Among Beneficiaries Of Michigan Online Gambling Tax Revenue
- Record revenue numbers for Michigan’s online casinos and sportsbooks are helping more than just gaming operators. Michigan’s schools and first responders also reap the rewards of the state’s booming gaming industry.
- MI Bets, 5.19.22 – Michigan Online Casino Market Strong And Getting Stronger
- While Michigan continues to beat expectations in the online sports betting department, what’s happening with the online casino market is something altogether different.
Minnesota
- Legal Sports Report, 5.18.22 – Can Minnesota Sports Betting Bill Make Waves In Senate?
- With just a few days left in the 2022 legislative session, Minnesota sports betting faces an uphill climb. The Minnesota House advanced a MN sports betting bill, HF 788, last week, 70-57. The Senate Finance Committee will hear the bill Thursday and could send it to the chamber floor. However, the bill’s path to the finish line is not clear and the legislative session ends Monday. If the Senate, as expected, does not agree to an identical bill from the House, it would need a conference committee.
Ohio
- Legal Sports Report, 5.18.22 – Ohio Sports Betting Will Start Near Jan. 1, Regulator Says
- As it turns out, that earlier window will not have a big impact on when the state launches, its regulator said at Wednesday‘s meeting. A spokesperson told LSR the launch date for Ohio sportsbooks will not be significantly earlier than the mandatory Jan. 1, 2023 deadline.
- Play Ohio, 5.18.22 – Ohio Sports Betting Universal Start Date Will Be Announced June 1
- The Ohio Casino Control Commission detailed on its website Wednesday that we’ll know on June 1 when sports betting in Ohio will launch.