Industry News of the Day for November 30, 2022
iDEA Growth Member News
- Fast Company: DraftKings’ Billion-Dollar Bet That It Can Change Why You Care About Sports
- Jason Robins, cofounder and CEO of the sports betting firm DraftKings, is standing at a construction site on a street corner outside Wrigley Field on a sweltering summer morning. Beside him is Crane Kenney, the Chicago Cubs’ president of business operations. They pose for pictures, pens in hand. Then they use them to sign a ceremonial steel girder.
- SBC Americas: AGA’s Bill Miller Calls On Gaming Industry To ‘Work Together’ Vs Illegal Operators
- Bill Miller, CEO and President of the American Gaming Association (AGA), has called for all parts of the legal gaming industry to “work together” in the fight against illegal and unregulated operators. Miller’s plea comes alongside a new AGA report revealing Americans are wagering an estimated $511bn a year on illegal sportsbooks, igaming websites, and unregulated machines.
- PlayUSA: 2022 Election Predictors Show Political Gambling Market’s ‘Real Limitations’
- On the eve of the 2022 U.S. elections, the odds of a “red wave” seemed pretty favorable. The Republicans were given a 65.2% chance of flipping the Senate on Oddschecker.com. On PredictIt.com, Dr. Mehmet Oz was a 63% favorite to defeat Democratic Lt. Gov. John Fetterman in the Pennsylvania Senate race.
- Bloomberg: World Cup Provides A $35 Billion Betting Boom For Bookmakers
- A total of $35 billion will be wagered on the 2022 World Cup, a 65% increase on the previous edition after a surge in online gambling during the pandemic, according to Barclays analysts.
- PlayGeorgia: Georgia Gambling Helps State Lottery Set Profit Record Of $390M
- As the mainstay of legal gambling in Georgia, the Georgia Lottery continues its run of record-breaking profits. After a record-shattering fiscal year which saw quarter after quarter raking in profits, the lottery kicked off the latest fiscal year with its highest profit windfall: $389.9 million.
- PlayMaryland: Why Maryland Online Sports Betting Will Not Cannibalize In-Person Sportsbooks
- Regulators in the Old Line State allowed its licensed online sportsbooks to start accepting wagers on Nov. 23. The move came nearly a year after they launched a brick-and-mortar market at five of the state’s casinos. Maryland’s recent online sports betting launch should have no significant impact on its brick-and-mortar industry.
- Sports Handle: Massachusetts Gaming Commission Agrees To Accept MGM’s Late Application
- The Massachusetts Gaming Commission Tuesday morning voted unanimously to accept a late Category 1 retail application from MGM-Springfield, and will allow it to be considered on a timeline to launch sports betting in “late January.” MGM-Springfield legal counsel Augustine Kim appeared at the virtual meeting requesting acceptance of the application, which he said was delayed due to “miscommunication” within the organization.
- US Bets: Nevada October Sports Betting Handle Drops Sharply Versus 2021
- The Nevada Gaming Control Board reported a sports wagering handle of more than $921.5 million for October on Tuesday, a top-five all-time figure — but one that was sharply lower compared to last year. At this time in 2021, the Silver State posted its first $1 billion monthly handle and joined New Jersey in a then-exclusive club.
- PlayOhio: Changing Face Of Problem Gambling Among Ohio Sports Betting Challenges
- With Ohio sports betting set to kick off on Jan. 1, the state is bracing for an increase in problem gambling and has a good idea of what a new problem gambler will look like. It’s logical to see more problem gambling with such a massive expansion of betting options on the way. But sports betting is going to change the face of the average problem gambler.
- Legal Sports Report: Addabbo To New York Jets: Come Back To Queens
- Sen. Joe Addabbo wants the Jets back in New York, specifically in Willets Point, Queens. With NYCFC set to build a 25,000-seat stadium in Willets Point that could open in 2027, Addabbo wants officials thinking bigger. He wants them thinking about a 70,000- to 80,000-seat stadium in Queens for Gang Green. The area also could include a casino and an increased presence for NY sports betting.