Industry News of the Day for May 24, 2024
Industry News
- Legal Sports Report: SportsQuack Latest Fantasy Sports Company To Leave Customers Hanging
- Another fantasy sports operator has shuttered while allegedly leaving frustrated customers in the dark as to whether they will be able to recover their funds. Fantasy sports operator SportsQuack announced it was closing over the weekend. Shortly thereafter, customers took to social media in frustration over alleged uncertainty regarding their funds. SportsQuack’s Twitter account has been locked, and its Discord account has been wiped.
- PlayUSA: Online Casinos Might Have To Adjust Player Data Handling Under Congressional Bill
- Companies involved in the regulated US online casino industry are used to navigating a patchwork of various rules across disparate states. However, a national standard could be forthcoming in at least one facet of their business. The American Privacy Rights Act, a proposed bill in the US Congress, would establish a uniform policy across the country when it comes to online privacy, data rights and businesses’ use of customer information. While it’s too early to get into the minutia of exactly how online casinos and their vendors might have to adjust their practices, it seems obvious that the new standards would apply to at least the operators of those online gambling platforms.
- Gaming Today: Congresswoman Titus Still Railing Against Federal Excise Gambling Tax
- Companies involved in the regulated US online casino industry are used to navigating a patchwork of various rules across disparate states. However, a national standard could be forthcoming in at least one facet of their business. The American Privacy Rights Act, a proposed bill in the US Congress, would establish a uniform policy across the country when it comes to online privacy, data rights and businesses’ use of customer information. While it’s too early to get into the minutia of exactly how online casinos and their vendors might have to adjust their practices, it seems obvious that the new standards would apply to at least the operators of those online gambling platforms.
Massachusetts
- SBC Americas: Senate Dismisses MA Sports Betting Tax Increase Proposal
- Massachusetts lawmakers are no longer considering an increase to the state’s tax rate on sports betting revenue. On Thursday, Sen. John Keenan saw his proposal, Amendment 828, rejected by the Massachusetts Senate as a measure that aimed to raise the tax for online sportsbooks from 20% to 51%. The increase would have placed Massachusetts next to New York as regulated U.S. gambling markets with the highest tax rates for sports betting operators.
Delaware
- iGB: Delaware Sports Betting Growth Continues As Expansion Bill Progresses
- Delaware reported further year-on-year growth across sports betting handle and revenue in April, while a bill proposing plans to expand the state’s online market beyond its current monopoly has moved forward. Introduced in April, House Bill 365 is seeking to open up the Delaware online market to more operators. This comes just months after the Delaware Lottery launched its first online sportsbook with Rush Street Interactive and BetRivers.
Colorado
- PlayColorado: Gov. Signs Bill That Could Increase Water Funding From Sports Betting
- A new Colorado sports betting tax bill could increase funding for the state’s water conservation efforts. Gov. Jared Polis signed House Bill 1436 this week, which means it will be on the ballot in November. If voters approve it, the cap on allocations would be removed. Instead of tax revenue from sports betting above a certain point going back to operators, those additional dollars would go to the Colorado Water Plan.