Industry News of the Day for May 24, 2022
iDEA Growth Member News
- Yahoo Finance, 5.24.22 – Paysafe Expands OLG Partnership with Income Access-Powered Affiliate Program
- Paysafe (NYSE: PSFE), a leading specialized payments platform, today announced its expanded partnership with the Ontario Lottery and Gaming Corporation (OLG), the Ontario government agency that conducts and manages gaming facilities, the sale of province-wide lottery games, and OLG.ca internet gaming, including its digital sports platform PROLINE+. The new OLG.ca affiliate program is powered by the affiliate software of Income Access, Paysafe’s marketing technology and services provider, which is also managing the program.
- Legal Sports Report, 5.24.22 – DraftKings CFO Expects Smaller Ops To ‘Continue To Throw In The Towel’
- Smaller operators will continue to be squeezed out of US sports betting as the market matures, DraftKings CFO Jason Park speculated last week.
- Play Tenn, 5.23.22 – DraftKings Marketplace NFT Buying Guide
- Digital NFTs are the gambling of the future, and one sportsbook is leading the charge. DraftKings Sportsbook is offering players a new way to wager on their favorite athlete with the DraftKings Marketplace.
- SBC Americas, 5.24.22 – Fanatics files ‘BetFanatics’ trademark for sports betting offering
- Fanatics has filed the term ‘BetFanatics’ with the US Patent and Trademark Office, an indication that the global digital sports platform is preparing a sports betting offering.
- US Bets, 5.24.22 – Underdog Fantasy Sportsbook Coming Soon, Promises To Be Different
- Buried in the second-to-last paragraph of a news release announcing the hiring of Stacie Stern as vice president of government affairs and sponsorship, the company dropped this nugget: “Underdog will be launching an innovative sportsbook in multiple markets over the coming months.”
- Play Indiana, 5.24.22 – The Basics Of Indiana Online Casino Gaming
- Indiana will take another crack at legalizing online casino gaming in 2023. Lawmakers tried to bring iGaming into the fold earlier this year but ultimately fell short.
- Legal Sports Report, 5.24.22 – Indiana Sports Betting Continues Growth With Basketball Love
- Indiana sportsbooks took $360 million in bets during April, according to an Indiana Gaming Commission report this month. While it was a 24.4% drop from March’s $476.8 million handle, it was a 52% jump compared to the $236.4 million wagered in April 2021.
- Play Michigan, 5.24.22 – Don’t Expect Michigan To Join Colorado In Adjusting Online Sports Betting Promo Deduction Policy
- As more states are launching legalized sports betting, some are having a little buyer’s remorse when it comes to their promotional deduction agreements with operators. Virginia and Louisiana have attempted to alter agreements, while Colorado appears to be the first state to amend its promotional deduction policies. Don’t expect Michigan to join that group any time soon. With tax revenue numbers surpassing original projections, Michigan lawmakers are content with their current policies toward promotional deductions for operators.
- Legal Sports Report, 5.24.22 – Michigan Sports Betting Slow Season Starts In April
- Michigan bettors placed $396 million in April bets, according to a Michigan Gaming Control Board report this week. It was the first month to dip below $400 million since MI sportsbooks took $386.8 million in September 2021.
- Online Poker Report, 5.23.22 – Michigan Online Poker Players Signed Into Multi-State Pool
- Michigan online poker player pools may soon double in size. Because today, the top Michigan Gaming Control Board (MGCB) official signed the agreement that will allow Michiganders to compete against players in Delaware, Nevada and New Jersey.
- Sports Handle, 5.23.22 – Another No-Go: Minnesota Legislature Closes Without Legal Wagering
- Ten days after the Missouri state legislature closed without any action — and lots of contentious debate — on sports betting, its northern friend did the same. On May 12, the Minnesota House passed a bill that would have put sports betting in the hands of the state’s 11 tribes. Less than a week later, a Senate committee amended the bill, changing how tax revenue would be allocated and taking that exclusivity away. The Senate version of HF 778 would allow two racetracks to also offer sports wagering.
- Play NY, 5.23.22 – In Election Year, Sen. Addabbo Has ‘Unfinished Business’ With New York Legal Gambling
- Joe Addabbo says he has unfinished business on the gaming front. Whether Addabbo gets his chance depends on New York voters. Addabbo (D-Howard Beach), the chair of the Senate Racing, Gaming and Wagering Committee, plans to run in District 15 in the upcoming election. He has played a significant role in advocating for the launch of legal online sports betting in NY. Addabbo and counterpart Assemb. Gary Pretlow also advocated for the acceleration of three downstate NY casino licenses.
- Legal Sports Report, 5.23.22 – Mobile NY Sports Betting Handle Slows, Taxes Still Rolling In
- New York’s eight mobile sportsbook operators turned in their weakest betting period yet with $286.2 million bet for the week ending May 15. Those mobile NY sportsbooks combined for a hold of 10.8%, though, which led to $31 million in sports betting revenue.