Industry News of the Day for May 2, 2022

Industry News:

• Sports Handle, 4.29.22: Get A Grip — The Week In Sports Betting: Kansas, California, NCAA, More
  • Most of the industry news that’s fit to link

Sports League News:

• SBC Americas, 4.29.22: NCAA opens door to sports betting deals for colleges
  • The NCAA Division I Interpretations Committee has ruled that individual colleges and schools can sign deals to provide statistics to sports wagering companies, opening the door to lucrative sports betting contracts.

Kansas:

• Legal Sports Report, 5.2.22: Kansas Sports Betting Bill Awaiting Governor’s Signature
  • Sports betting in Kansas is a signature away from become law after the Senate passed SB 84 to Gov. Laura Kelly early Friday morning.

Virginia:

• Sports Handle, 4.29.22: Virginia’s $470 Million March Sports Betting Handle Ranks Second In State History
  • Operators enjoy a solid 7.2% hold rate, but again return millions to bettors in promotional credits
• New Canaan Advertiser, 5.2.22: Tax break helps sports betting companies reduce obligations
  • Virginia has collected tens of millions of dollars in tax revenue since legalized sports betting debuted last year, despite a tax break for betting companies that helps reduce their obligation.
• WHSV, 4.30.22: Sports betting continues to be a money maker for Virginia
  • Sports betting was legalized in Virginia just over a year ago, and it continues to be successful in the Commonwealth.
• Richmond Times Dispatch, 5.2.22: Sports betting companies have given $168 million in incentives to Virginians. They get to deduct that from their taxes.
  • Virginia has collected $26.7 million in tax revenue since launching legalized sports betting last year. However, the state may be leaving nearly that much on the table.

Missouri:

• TN Bets, 5.2.22: Missouri Sports Betting Legislation Stalls Following State Senator’s Filibuster
  • Missouri State Senator wants Video Gaming Terminals included in sports betting legislation, or else…
• The Examiner, 4.20.22: Hopes fading for Missouri sports wagering bill
  • The odds are growing longer on whether Missourians will be able to bet on Kansas City Chiefs games from within the state this year.

Massachusetts:

• Patriot Ledger, 5.1.22: Senate passes sports betting bill that differs from House version
  • After years of discussion and pressure from both inside and outside the State House, the Massachusetts Senate voted Thursday to legalize sports wagering here, but lawmakers will have to reconcile the many differences between the Senate’s bill and the one that passed the House last summer before any bets can be placed.
• Mass Live, 4.20.22: ‘Damning lack of transparency’ on Massachusetts sports betting vote in Senate raises skepticism law will get on the books this session
  • Massachusetts state senators kept their cards close to the vest when they finally passed sports betting legislation more than four years in the making this week, but as the bill inches closer to legalization, watchdogs are hedging their bets on whether lawmakers will cross the finish line this session.
• WCVB, 5.1.22: OTR: Roundtable breaks down sports betting debate between Massachusetts House, Senate
  • The Massachusetts House says collegiate sports be included in the sports betting bill while the State Senate says no.

New Jersey:

• NJ Biz, 5.2.22: NJ sports betting remains national model
  • When New York launched mobile betting back in January, a lot of analysts and experts expected New Jersey to see a pretty significant decline. But the evidence suggests that New Jersey continues to hold its own, with its sportsbooks breaking the $1 billion mark in six handles over the last seven months.