Ready Nutrition (@ready nutrition), one of the fastest growing sports nutrition companies in America, today announced Dr. Kim Beals, a nationally renowned sports nutrition and physical performance researcher and educator, has accepted the position as Chief Science Officer for the Ready Team.
A registered dietitian and a Certified Specialist in Sports Dietetics, Dr. Beals is an Associate Professor in Department of Sports Medicine and Nutrition at the University of Pittsburgh where she has worked for the past 25 years. She published over 60 peer-reviewed scientific papers, technical reports and abstracts and given numerous invited lectures across the country and internationally. Dr. Beals has held numerous service and leadership positions in various professional organizations including the Academy of Nutrition & Dietetics, American College of Sports Medicine, American Dairy Association and Action for Healthy Kids.
“I joined the Ready Team to be a part of a company committed to using sports nutrition to help athletes be their best.” said Dr. Beals. “Studying and researching sports nutrition for over 25 years, it’s so exciting to work with a team developing sports nutrition products and programs based on science to help athletes achieve their goals.”
Dr. Beals will head Ready’s R&D division, spearheading its efforts to bring the latest in scientific performance ingredients and functional product formulations to market that best nutritionally assist athletes and other fitness-minded individuals in achieving their performance goals.
“This reaffirms our commitment of constantly trying to get better and providing best-in-class, science-based sports nutrition products in order to support athletes achieve their performance goals,” said company founder and president Pat Cavanaugh. “I expect Dr. Beals, with her expertise and scientific reputation, to make an immediate impact for the Ready Team.”
World Sports Network (WSN.com) has recently expanded its sports news and entertainment coverage in the United States by announcing a new podcast partnership with expert sports bettor Bill Krackomberger.
nBill Krackomberger commented on the new show, “I’ve been approached to do podcasts before but I believe this is the right place for it. After betting on sports professionally for over twenty-five years I am looking forward to a show where we will educate sports bettors with real actionable advice every week.”
James Whitelock, Head of Marketing at WSN, “We are very excited to launch this new podcast in partnership with Bill Krackomberger. Bill sits in the middle of an extensive community of sports bettors in the US, I believe this relationship will drive WSN forward and provide a great platform for sports bettors looking for an edge from respected experts.”
The show is intended for novice and professional sports bettors and will feature special guests, many of whom are Bill’s friends and acquaintances and known bettors in their own fields. Bill is joined on the show by Rosalie Michaels, a daily fantasy sports analyst, who will go into betting concepts with him.
The show will be available on all popular podcast services.
Vladimir Guerrero Sr. and Jr., credit: Wikimedia Commons/Google Man (Sr.), and DR. Buddie (Jr.)
For many families, baseball has been an integral part of Father’s Day for years, and although the pros won’t be on the field this Sunday to help dads celebrate with their children, Strat-O-Matic (www.strat-o-matic.com), the market leader in sports simulations, is keeping the tradition alive by playing out a seven-game series featuring some of the greatest fathers and sons to compete on the diamond. From Bobby and Barry Bonds to Ken Griffey Sr. and Jr. to Vladimir Guerrero Sr. and Jr. to Sandy, Sandy Jr. and Roberto Alomar, the Fathers and Sons teams, managed by big league skippers Bob and Aaron Boone, will battle it out, with results to be published on Sunday.
Some of the other father-son combinations featured on the respective 30-man squads are Tom and Dee Gordon, Dante and Bo Bichette, Clay and Cody Bellinger, Tony Gwynn Sr. and Jr., Craig and Cavan Biggio, Mel and Todd Stottlemyre, Ivan and Dereck Rodriguez, and Lance McCullers Sr. and Jr. Strat-O-Matic will utilize the best seasons of these standout players in creating the “cards” used in the simulation. Toronto’s current trio of big league progenies Bichette, Biggio and Guerrero are among the standouts for the sons’ side.
“We wanted to find a uniquely ‘Strat-O-Matic’ way to pay tribute to fathers enjoying baseball with their sons and daughters on their special day,” said Hal Richman, Strat-O-Matic founder, whose son Adam is the company president. “With so many fathers and sons, many of them Hall of Famers and All-Stars, on rosters throughout baseball history, this fun simulation will highlight some of the best family connections the sport has known.”
Full rosters for the teams with their primary teams are as follows:
Fathers (manager: Bob Boone):
Mel Stottlemyre, p., New York (A.L.)
Floyd Bannister, p. Seattle, Chicago (A.L.)
Dizzy Trout, p., Detroit
Clyde Wright, p., California
Tom Gordon, p., Kansas City, Boston (A.L.), Philadelphia (N.L.)
Pedro Borbon, p., Cincinnati
Jeff Russell, p., Texas
Lance McCullers, p., San Diego
Steve Bedrosian, p., Atlanta, Philadelphia (N.L.)
Paul Quantrill, p., Toronto, Boston (A.L.)
Jeff Shaw, p., Los Angeles (N.L.), Cincinnati, Montreal
Bryan Harvey, p., California, Florida
Ivan Rodriguez, c., Texas, Detroit
Fred Kendall, c., San Diego
Tony Perez, 1b., Cincinnati, Montreal
Craig Biggio, 2b., Houston
Buddy Bell, 3b., Cleveland, Texas, Cincinnati
Maury Wills, ss., Los Angeles (N.L.)
Cecil Fielder, 1b.-d.h., Detroit, Toronto
Sandy Alomar, inf., California, Atlanta, New York (A.L.)
Dick Nen, 1b., Washington (A.L.)
Clay Bellinger, ut., New York (A.L.)
Fernando Tatis, 3b., St. Louis (N.L.), Montreal, New York (N.L.)
Bob Oliver, ut., Kansas City, California
Felipe Alou, of., Atlanta, San Francisco, New York (A.L.)
Tony Gwynn, of., San Diego
Ken Griffey, of., Cincinnati, New York (A.L.)
Bobby Bonds, of., San Francisco, California
Dante Bichette, of., Colorado, California
Vladimir Guerrero, of.-d.h., Montreal, Los Angeles (A.L.)
Sons (manager: Aaron Boone)
Lance McCullers Jr., p., Houston
Todd Stottlemyre, p., Toronto, St. Louis (N.L.)
Brian Bannister, p., Kansas City
Steve Trout, p., Chicago (N.L.), Chicago (A.L.)
Robb Nen, p., Florida, San Francisco
Jaret Wright, p., Cleveland
James Russell, p., Chicago (N.L.)
Pedro Borbon, p., Atlanta, Toronto
Cam Bedrosian, p., Los Angeles (A.L.)
Cal Quantrill, p., San Diego
Hunter Harvey, p., Baltimore
Dereck Rodriguez, p., San Francisco
Darren Oliver, p., Texas, Los Angeles (A.L.)
Sandy Alomar Jr., c., Cleveland, Chicago (A.L.)
Jason Kendall, c., Pittsburgh, Oakland
Prince Fielder, 1b., Milwaukee, Texas, Detroit
Roberto Alomar, 2b., Toronto, San Diego, Cleveland
Vladimir Guerrero Jr., 3b., Toronto
Dee Gordon, 2b., Los Angeles (N.L.), Miami
David Bell, inf., Philadelphia (N.L.), Seattle, St. Louis (N.L.)
Bret Boone, 2b., Seattle, Cincinnati
Eduardo Perez, 1b., St. Louis, Cincinnati, California
Bump Wills, 2b., Texas
Cavan Biggio, ut. Toronto
Bo Bichette, ss., Toronto
Fernando Tatis Jr., ss., San Diego
Travis Shaw, inf., Milwaukee, Boston
Barry Bonds, of., San Francisco, Pittsburgh
Ken Griffey Jr., of., Seattle, Cincinnati
Moises Alou, of., Montreal, Chicago (N.L.), Houston
Cody Bellinger, of., Los Angeles
Tony Gwynn Jr., of, Milwaukee, San Diego, Los Angeles (N.L.)
Grants Pass Downs will kick off its summer racing season tomorrow, Tuesday, June 16. The 8-race opening day program will feature the Shady Cove Stakes, with a full field of 10 thoroughbreds competing for a purse of $12,000 at a distance of five furlongs. The meet will boast more than 80 races scheduled over nine dates – June 16, 17, 23, 24, 30 and July 1, 6, 7 and 8 – with $60,000 available in purses each day. Post time is set for 4:00 p.m.
Lighting was installed this spring to facilitate twilight racing, and the track was widened to support bigger fields. Thanks to a grant from the Oregon Thoroughbred Owners and Breeders Association (OTOBA), Grants Pass Downs was also able to complete a number of other safety-focused projects including the installation of a new retaining wall, fencing, breakaway distance markers and additional sand to improve the track surface. The stall area was also expanded to accommodate up to 450 horses to meet growing demand. Those stalls are now nearly full as hundreds of horsemen and women from around Oregon and across the West have come to Grants Pass to participate in the meet.
“The uncertainty of these times hasn’t dampened any of the enthusiasm we’ve felt from our partners in the racing community since commercial racing came to Grants Pass last year,” said John Everly, racing secretary at Grants Pass Downs. “Demand remains very high, and even with the addition of more stalls in the barn area and fields expanding from eight to 10 horses with the widened track and an expanded starting gate, races should be pretty full throughout the meet.”
In accordance with current Oregon state health guidelines amid the COVID-19 pandemic, the meet will be held without fans in attendance. Racing fans unable to attend due to the current public health guidelines are encouraged to watch and wager at TVG.com and other advance-deposit wagering (ADW) websites, as well as at participating off-track betting (OTB) locations around the state. Grants Pass Downs has also expanded its wagering menu and will offer two new bets during the Summer Meet—a fifty cent Jackpot Pick Five with a $5,000 guaranteed pool and a 15% takeout rate, and a one dollar early Pick Four. For a list of participating ADW sites and OTB locations, visit https://gpdowns.com/wagering/.
“The health and safety of our athletes, staff, partners and guests is our highest priority, and we have put new protocols in place to ensure a safe, fun environment for all as we resume racing operations,” said Rod Lowe, director of racing and chief operating officer at Grants Pass Downs. “We’ll be encouraging the use of masks or face coverings by all guests. Additionally, hand sanitizer stations have been set up in high traffic areas throughout the premises, and social distancing reminders – like signage and floor markings – have been posted throughout the premises.”
Grants Pass Downs will allow a maximum of 250 nonessential people on site on racing days, including owners and their guests, sponsors and corporate partners, and members of the media.
New Jersey’s online sportsbooks more than doubled the state’s combined handle in May, but still fell short of an ordinary May by nearly $400 million, according to PlayNJ estimates. This while online casinos and poker rooms continue to boom, buoying the Garden State’s gaming industry.
“May’s increase is a positive sign, but until major professional sports resume and Atlantic City casinos reopen, the gaming industry will look nowhere near normal,” said Dustin Gouker, lead analyst for PlayNJ.com. “But optimism can be found with DraftKings, which has become a darling of Wall Street since it became a publicly traded company. That shows just how much confidence investors have in the future of sports betting.”
New Jersey’s online sportsbooks managed to boost the state’s monthly handle to $117.8 million, up 115.8% from $54.6 million in April, according to official reporting released Friday. But May’s handle is down 63.1% from $318.9 million in May 2019 and still well short of the more than $500 million in bets that would have been made in an ordinary May, according to PlayNJ estimates.
May’s bets produced a surprising $9.9 million in gross revenue — more than tripling the $2.6 million in April 2020 — yielding $1.3 million in state taxes.
Sports categorized as “other” than football, basketball, and baseball generated $95.4 million in bets in May, up from $88 million in May 2019.
“The bottom-line sports betting numbers aren’t pretty, but there is a silver lining in how online sportsbooks have managed to survive these shutdowns,” said Eric Ramsey, an analyst for PlayNJ.com. “New Jersey’s operators have been creative in keeping bettors engaged and sportsbooks generating revenue, even when fringe sports are the only real attraction. Thanks to some imagination, it appears online sportsbooks will help the industry get through this.”
Without retail sportsbooks, online sportsbooks were the only revenue generator for the state. FanDuel Sportsbook/PointsBet led the market with $4.3 million in gross revenue.
“We are just starting to see the light at the end of the tunnel,” Gouker said. “Retail sports betting will take time to return to something resembling normal. But the path to recovery for online sportsbooks is simple: Sports need to come back. That is finally starting to happen.”
Meanwhile, online casinos and poker rooms rose to a new monthly record in May with a combined $85.9 million, up 7.5% from the record $79.96 million in April and up 134.7% from $36.6 million in May 2019.
Online casinos and poker generated a record $2.8 million per day during the 31 days in May, up from $2.7 million per day in April. That revenue yielded $12.9 million in state taxes. The Golden Nugget’s dominance of the market continued with $29.1 million in revenue, up from $27.6 million in April.
“Land-based gambling revenue almost certainly won’t return in June, and it will take some time to recover even when it does come back while Atlantic City casinos presumably navigate reduced capacity and relatively weak tourism demand,” Ramsey said. “Because of that, online casinos will be relied upon to bridge the revenue gap, even once land-based casinos reopen. Even if that online revenue can’t replace what has been lost from the shutdown, the overall gaming industry would be in much worse shape without it.”
With live sports still on hold (though hopefully coming back soon!), fantasy leagues have been looking for ways to keep their members together, combining their love of baseball and football with the camaraderie that goes with participating with friends. And for the first time, the popular Baseball 365 and Football 365 products from Strat-O-Matic (www.strat-o-matic.com), the market leader in sports simulations, give commissioners the tools to manage leagues of recent and all-time great rosters, with games simulated daily, just like regular fantasy sports.
Commissioner league users can invite specific guests to compete, incorporate league settings, draft teams at any pace, and even fill out spots with computer-controlled “bot” teams. Players serve as GM and manager, setting lineups, pitching rotations and managing styles (baseball) or starters, schemes and tendencies (football) for a realistic fantasy experience.
Baseball 365 Commissioner leagues can choose from the 2019 season, a new “All-Time Greats 9” set of more than 5,300 cards, additional single-seasons of 1982, 1986, 1999, 2007 through 2018, or mystery card sets from every decade from the 1960s through the 1990s. Football featured cards include the 2018 season, as well as an All-Time Franchises set with greats dating all the way back to the 1940s.
“Many Strat-O-Matic players are also huge fantasy sports fans, and just like Strat-O-Matic leagues stay together for years, a lot of the fun of fantasy is playing with your friends” said John Garcia, Strat-O-Matic’s Director of Research and exec-in-charge of 365. “There’s nowhere else to go right now to buy out a fantasy league in baseball or football with your friends.”
“The Commissioner leagues combine the excitement and strategy of Baseball 365 and Football 365 with the convenience and control that keep leagues and friends together,” said Bernie Hou, Director of 365 for Strat-O-Matic.
Grants Pass Downs has named veteran race caller Jason Beem as track announcer for its 2020 commercial race meets. Beem will call all nine days of summer racing, beginning Tuesday, June 16 through closing day, Wednesday, July 8, as well as the track’s fall meet. Final dates for fall racing have yet to be determined.
A seasoned track announcer, social media personality, podcast host and author, Beem brings over 15 years of experience calling races to Grants Pass Downs. He has experience calling meets around the country, at Colonial Downs, Louisiana Downs, Monmouth Park, Portland Meadows and River Downs, among others. He hosts a daily horse racing podcast called The Jason Beem Horse Racing Podcast, and is known for his annual “Beemie Awards,” held each December to celebrate the best moments in horse racing social media.
“We are excited to add Jason’s talent and vast experience in horse racing to the upcoming summer meet,” said Randy Evers, president of Grants Pass Downs. “His infectious enthusiasm for our sport is the perfect fit for calling our races, and he is certain to inject an extra wow factor in an unusual time. Our summer race dates will be held without spectators to maintain health and safety during the pandemic, but we are confident that Jason’s unique voice will help accurately reflect the excitement we’ve felt from the Grants Pass community.”
Beem, a Pacific Northwest native who grew up attending races at Longacres and Portland Meadows, is eager to lend his talents to the track for the first commercial races in Oregon this year.
“I’m honored to join the team at Grants Pass Downs as they continue to build on Oregon’s long and storied horse racing legacy,” said Beem. “The leadership and staff at Grants Pass Downs are doing an excellent job driving the next era of horse racing in the state while keeping hundreds of horsemen and women at work in Southern Oregon. I consider Oregon a second home and am thrilled to be a part of this team for the summer and fall meets.”
The summer race meet at Grants Pass Downs will kick off without spectators on Tuesday, June 16. Post time is set for 4 p.m. each day. Races will be available for spectators to watch and wager on TVG Network and other advance deposit wagering sites, and carried by Oregon’s off track betting sites. A full list of participating ADW sites and open off track betting sites are available on Grants Pass Downs’ website at www.gpdowns.com.
During a time of casino closures and league shutdowns, Colorado bettors have shown their willingness to engage with the state’s newly regulated sports betting offer. Since launching on May 1, the state has generated $25.5 million in gross, unaudited sports betting revenue. In a recent survey by ColoradoSharp.com, 75% of respondents said they would return to casinos “as soon as they’re open.” All signs point to a statewide boom for betting revenue when full-fledged gambling returns to The Centennial State.
“Colorado’s month-one results cement the state as a leader in the US gambling arena. $25 million in revenue is impressive on its own, and it’s even more impressive when you consider how sparse the gambling options are during a globally trying time,” said Chris Nesi, Managing Editor for ColoradoSharp.com. “This first month showcases the strength of the Colorado gaming industry, and I think we’ll continue to see impressive numbers from the state in the future.”
The Covid-19 pandemic hit Colorado hard. Related closures resulted in revenue loss nearing $100 million through April 30 alone. However, amid a challenging time for the state, Colorado’s successful first month of sports betting generated more than $25 million. Compared to Indiana’s launch month, the number is particularly impressive: Indiana earned $35 million in October 2019 when it debuted sports betting absent any casino closures. Colorado’s success in light of league cancellations and virtually no casino activity bodes well for the future of sports betting in the state. The first month’s $25 million signals a general desire for betting in Colorado, a conclusion supported by ColoradoSharp.com’s recent casino reopening survey.
In the survey, three-quarters of participants said they would return to casinos as soon as they reopen, even though the state has no current timeline for reopening land-based casinos or sportsbooks. The survey showcased Colorado’s excitement for gambling’s return, though not without some caution. 75% of survey takers intend to wear a mask when visiting a casino, and 50% said it is “very important” that casinos take social distancing safety measures upon reopening.
The following is about legalized sports betting and its future in the US, by BonusSeeker.com’s Brian Sausa.
It has been over two years since the legalization of sports betting in the United States and in that time, the industry has quickly entered the mainstream and begun an expansion that is seemingly boundless. In total, 22 states (plus Washington D.C.) have legalized wagering on sporting events in some form or another and now, that revenue will come in handy.
Across the U.S., states are enduring financial hardship due to the response effort required to battle the COVID-19 pandemic. The approach that some states have taken toward the legalization of sports betting has enabled the industry to be a vehicle toward financial recovery during trying times.
But while some states have done all they can to help open up revenue streams and bring in tax dollars, others aren’t maximizing the revenue potential of the industry.
Of the nearly two-dozen states with legislation enacted, only six offer full mobile (or online) sports betting, which allows players to wager from any geographic location inside state lines. The rest have partial online betting or physical-only wagering, which forces players to be present in a casino in order to wager and generally leads to far less revenue and tax dollars.
Whatever the reason for not including online wagering via mobile devices, the states are missing out on additional sources of tax income. And any states that choose to stay out of the industry entirely or legalize betting without the mobile component will be doing the same thing.
Mobile Sports Betting Advantages
Whether you look at it from the point of view of the bettor or a state looking to generate revenue from the industry, it doesn’t take much detective work to uncover the benefits of online sports betting for all parties. Of the 22 states with legislation in place, the following six have full online sports betting:
New Jersey Pennsylvania Colorado Indiana West Virginia New Hampshire Simply put, the above states are able to offer a few things that the rest cannot, and it’s led to substantial taxes being raised via sports betting revenue.
In comparison to the seven states with only physical sportsbooks, the operations running in states which allow mobile betting are unsurprisingly reaping more monetary benefits. There are several pros to allowing folks to wager from anywhere, but here are the three key benefits:
Convenience
Online sports betting is by far, the most convenient way to wager. This means bettors can place wagers from any location of their choosing whether in the comfort of their own home, out at the supermarket, or anywhere else.
As long as you are physically located inside the state, which is verified by the sportsbook’s geolocation feature, you’re eligible to bet. There’s absolutely no contest between being able to bet from anywhere and being forced to drive all the way to a brick-and-mortar casino and line up at the window just to place a wager. It also saves bettors some money right off the bet by removing travel costs.
Live Betting
The growth of mobile betting has paved the way for new ways to wager, including live betting. Previously, bettors could only get action before a game, or possible at intermissions such as the end of quarters or halves.
Thanks to live betting, constantly-adjusting lines are available to wager on throughout the length of an entire game. The ease with which players can wager on live odds via mobile is unmatched, making this another feature of online betting that cannot be replicated by a land-based venue.
More Betting Options
In addition to live betting, the emergence of online sports gambling has led to an explosion in the number of markets offered across a wide range of sports. Bet types such as props and futures have catapulted into an entirely new stratosphere in terms of both quantity and specificity, providing options for every kind of bettor.
The usage of online sports betting apps is also a boon for the players themselves, who are given the option of shopping around for a specific market or the most advantageous line possible.
All of the above factors add up to make online sports betting with mobile devices a much more lucrative way to do things for states hoping to add revenue. But rather than taking it from us, let’s allow the numbers to do the talking.
New York vs. New Jersey – The Case For Mobile Sports Betting
If you’re wondering about the difference between a state which has full mobile sports betting and one that doesn’t, look no further than the tri-state area.
New York and New Jersey are not only neighboring states with nearly equal populations. A comparison between the two also serves as the perfect example of just how lucrative online betting can be to the areas which allow it, and what the states without it are missing out on.
New Jersey Thriving With Online Sports Betting
New Jersey online sports betting first launched live during June 2018, shortly following the federal repeal of PASPA, which gave states the ability to decide for themselves whether to allow legal wagering on sports.
In the time since then, the Garden State has emerged as the blueprint for states looking for healthy revenue creation via sports betting.
In its first few months since going live, New Jersey closed 2018 by generating nearly $54 million in revenue. Now compare those numbers with New York, a state in dire need of revenue streams. Empire State sportsbooks began taking wagers almost exactly one year later in July 2019 and in the six months which closed 2019, New York produced just under $7 million in revenue.
Now let’s look at the first full year of mobile sports betting in the Garden State was 2019, and this is where the gap between the two widens by an almost laughable margin. New Jersey saw nearly $4.6 billion in sports wagers, which resulted in around $300 million in total revenue.
Once factoring in taxes, $36 million went straight to the state and local governments to help with addiction issues, educational programs, and job creation. Keep in mind that nearly 90 percent of the state’s wagers are placed online.
It’s bad enough that New York only has in-person sports wagering, but it adds insult to injury that the simplicity of the mobile component actually has the Empire State losing out on the potential for revenue from its own residents.
Nobody knows this better than state Senator Joseph Addabbo, who is the author of the legislation to legalize mobile wagering in the state and chairman of the New York Racing, Gaming and Wagering Committee.
“People look for convenience. They look for what’s safe for them, what’s legal, but they look for convenience…they go across the border to [New] Jersey because it’s simple,” Addabbo told BonusSeeker.com’s Brian Sausa. “That’s why Jersey took $837 million of our money last year. Because it’s easy.”
What Addabbo is referring to is a study conducted by Eilers & Krejcik Gaming, which estimated that New Yorkers accounted for over $837 million of the sports wagering handle in New Jersey. That means operators in the Garden State earned almost $60 million while the state pulled in about $6 million in tax revenue from New York residents alone.
The study also estimated that New York, which is on its way to being $13 billion in debt, is missing out on over $200 million per year by leaving online sports betting off the table.
Revenue Says Online Is The Future Of Sports Betting
It should come as no surprise that when looking at places with the most sports betting revenue generated, most of the states littering the top of the list are ones with online wagering as part of the equation.
Even Nevada, the state most synonymous with land-based gambling, has partial sports betting. The Silver State pulled in a massive $5.3 billion handle from sports betting in 2019 with revenues nearing $330, although there’s no way of knowing just how much came from online since the state doesn’t release breakdowns.
The point remains that if a state making hand-over-fist cash at brick-and-mortar casinos can still see value in the inclusion of mobile sports betting, what is everyone else waiting for?
Due to Nevada’s intertwinement with the industry and it only having partial online betting, there are better models to look at. As mentioned, New Jersey has become the poster child for what a sports betting launch is supposed to look like.
The Garden State’s total earnings are second only to Nevada, and New Jersey even became the first state to take in a higher betting handle in the Silver State during May 2019. In the first two months of 2020 (prior to COVID-19), New Jersey pulled in over $60 million in total sports betting revenue to just barely out-earn Nevada.
While New Jersey is a difficult target to aim at, several states have copied the blueprint and as a result, seen positive results thanks to online wagering.
Pennsylvania
Pennsylvania is largely regarded as third behind Nevada and New Jersey. Its extremely high 36 percent tax rate has resulted in a huge boon for the state, even if one could argue it has limited the number of operators to launch. Even still, the state saw a $3.4 billion handle and $84 million in revenue, although mobile betting didn’t launch until the summer of 2019.
For a clearer picture, let’s look at some 2020 Keystone State sports betting revenue numbers according to the Pennsylvania Gaming Control Board. In January, online wagering brought in a handle over $150 million while the retail handle was about $3 million. In February, it was $138 million spent online and just $2.5 million in person.
That means that in just the first two months of 2020, online made over $10 million in revenue while land-based sports betting acquainted for $1.3 million.
New Hampshire
Things aren’t much different in New Hampshire, where a massive 51 percent tax rate on mobile wagers (50 percent on retail wagers) means that the Granite State benefits more from sports betting than any other.
At first, the state went live without mobile wagering before DraftKings joined the party as the only non-lottery operator. Until COVID-19, New Hampshire was the latest state to surpass early expectations following its December 2019 launch.
West Virginia
West Virginia introduced sports betting in 2018 but it disappeared before reappearing in August 2019. Due to only having a few months to work with, it is the only state with full mobile wagering to make more revenue from retail.
In 2020, however, early signs point to online wagering pulling in much more than land-based in its first full year. As of mid-April, about two-thirds of the handle and revenue has come from online.
Colorado & Indiana
Sports betting in Colorado just launched as the calendar flipped to May 2020 so there are no official numbers, although projections say the state could eventually take billions of dollars every year in handle and dozens of millions in potential tax revenue.
Indiana sports betting went live in 2019 just before the start of NFL season and the timing could not have been better. The Hoosier State saw $436 million in wagers during its first four months to close the year, with nearly 70 percent of bets coming online and that number expected to rise.
Will Mobile Sports Betting Be Included Going Forward?
The past two years are sufficient evidence that sports betting is more popular than ever before, and it’s unlikely to end anytime soon. Rather than slowing down, the industry is more like a freight train moving downhill.
By 2022, most states will have at least voted on legislation regarding the industry, and much sooner rather than later, the number of states without legal wagering will be in the minority. It is believed that by 2024, 80 percent of the country’s states could allow some form of sports betting.
Before we get too far ahead, however, let’s focus on the states that are launching next. Since the summer of 2019, there are five additional locations which passed sports betting legislation but haven’t yet gone live:
North Carolina Tennessee Virginia Washington Washington D.C. Just by looking at the legislation that has passed, we can determine which states have the brightest future ahead.
Despite all the evidence pointing to online wagering being the best way to generate the most revenue possible, some states are unfortunately still leaving considerable money on the table.
New States Are Limiting Sports Betting
Both North Carolina and Washington have passed bills and should be able to commence operations shortly, although it won’t be living up to its potential.
Sports betting won’t do much for North Carolina, which is limiting wagering to just two tribal casinos that are in the western half of the state. They are both over three hours from Charlotte and over five hours from Raleigh, the state’s two most populous cities.
Washington became the first state to pass betting in 2020, although this some more pretty restrictive legislation. Following lobbying from tribal casinos to pass the bill, wagering is limited to those locations. To make matters worse, bettors in the Evergreen State won’t even be able to wager on teams that play in Washington.
Sports Betting Launching The Right Way In Tennessee, Virginia, And Washington D.C.
Thankfully, there are a few locations that are passing sports betting in its most ideal form and including the online component, starting with our nation’s capital. Washington D.C. approved sports betting back in 2018 but amended its original plans to include mobile wagering and should launch in the wake of COVID-19.
Tennessee is set to become the first mobile-only sports betting state by the time it launches and should see massive success due to its proximity to several states that don’t yet have betting. Virginia is launching both mobile and in-person sports betting and is expected to attract similar operator competition as New Jersey, which has nearly 20 sports betting sites.
If all goes according to plan, the three territories above will make it nine of the 23 in total with full online sports betting included in its legislation. While the percentage of states with the mobile feature included is improving, there are still far too many millions being left on the table.
At a time where nobody should be turning down new streams of revenue, future states would do well to follow the money and the blueprint laid out by those which are pulling in the most tax dollars.
Undoubtedly, mobile sports betting will continue being a common denominator among the most successful in the industry.
If California voters approve online and retail sports betting in November it will open the door to a market that has the potential to generate more than $30 billion in wagers annually, according to projections from PlayCA.com, which analyzes legalized gambling in California. Those wagers would generate some $2 billion in operator revenue and $300 million in state taxes each year.
“California is the holy grail of sports betting markets, and not just because of its sheer size,” said Dustin Gouker, chief analyst for PlayCA.com. “It appears that legislators are working to put in place a structure that will make California uniquely attractive to every major operator. And because it has the potential to be the largest legal sports betting market in the U.S., ultimately it represents a seismic shift in the industry.”
The California assembly took a significant step toward the legalization of online and retail sports betting in the Golden State on Thursday by adding implementation details to ACA 16 and SCA 6. The new language in the bills, which were originally introduced in June 2019 by Sen. Bill Dodd (D-Napa) and Assemblyman Adam Gray (D-Merced), would amend the state constitution to:
Authorize retail and online sports betting at the state’s tribal casinos and racetracks if approved by voters, but not at the state’s cardrooms.
Set a tax rate of 10% on gross revenue for in-person wagering and a 15% tax for mobile or online wagering.
Impose taxes on the platform operators rather than directly by the tribes, to avoid sovereignty issues.
The tax rates are reasonable within the context of legal U.S. sports betting jurisdictions. By comparison, New Jersey, the nation’s largest online sports betting market, levies a 13% tax on online sports betting revenue and 9.75% tax on revenue from retail sportsbooks. Pennsylvania levies a 36% rate, by far the highest in the nation.
With the proposed tax rate, California could generate $240 million in operator revenue and $36 million in state taxes annually from online sports betting and another $60 million in operator revenue and $6 million in taxes a year from in-person betting, according to PlayCA.com estimates.
“The tax rates are fair for both operators and the state, and would be competitive with many of the states that have already legalized sports betting,” Gouker said. “The rate certainly won’t scare off sportsbook operators, who are all eager to enter California. This balanced approach should help the market ramp-up quickly once the industry launches, which is ideal considering California’s budget crunch.”
The state assembly and senate still must approve the bill, and then it must be signed by Gov. Gavin Newsom, before it can make its way to ballots this fall. But with a $50 million shortfall in California’s budget, and deep cuts expected, there is pressure on lawmakers to find new sources of revenue.
“The structure of these bills seems sound, and it should help the state eventually realize its revenue goals to the benefit of all of California,” Gouker said. “As for the gaming industry, if sports betting is approved by voters, it stands to change the face of sports betting across the country,”
Monkey Knife Fight (MKF), the fastest growing gaming platform in North America, announced a new partnership with the San Diego Padres. As the Official Fantasy Sports Partner of the Padres, MKF will be prominently displayed on signage at Petco Park and on all the Padres’ social media outlets.
In addition to the partnership, Monkey Knife Fight has contributed $50,000 to The Padres Foundation. The foundation is focusing their efforts during this pandemic on food insecurity and support for frontline workers in addition to their other outreach initiatives supporting the San Diego community.
“The Padres are excited to partner with MKF to grow and expand their tremendous lineup of fantasy sports platforms,” said Erik Greupner, President of Business Operations for the Padres. “Their very generous donation to The Padres Foundation will also provide much needed resources to combat hunger in the San Diego community during these challenging times.”
Bill Asher, Founder and CEO of Monkey Knife Fight commented, “I am excited to see MKF in such a world class city and to be associated with a team that is so intertwined with the community. The Padres have made it a priority to take care of San Diego’s frontline workers and to help where needed. The foundation has demonstrated the Padres unwavering support for their players, fans, and community.”
Following a similar announcement earlier this month with the Milwaukee Brewers, this signifies a real commitment that MKF is making to Major League Baseball and its fans, especially within these two cities. The moves reinforce MKF’s belief that there is a large appetite among these baseball fan communities to play fantasy sports games that allow them to focus on their local home town teams and favorite players.
Online SportsBook BetOnline tried their hand at producing original content this past week, something that a gambling site doesn’t usually do when dollars are not on the line, when they released “The Final Dance” featuring former Chicago Bulls Horace Grant, Ron Harper, Bill Cartwright, and Craig Hodges.
But how to drive some buzz and cut through the clutter around so much content about the show? Stir the pot. Hosted by NBC Chicago and ESPN Radio personality Dave Kaplan, sparks flew as the talent delved into their take on “The Last Dance”. Gasoline got thrown on the fire as Grant ripped Jordan multiple times, calling him a “snitch” and liar”. This sound bite took over social media and the discussion shows the following day. Contrived? Preplanned? Who knows. One thing is for sure, it found it’s way to the mainstream.
The overall consensus from the guests was that Scottie Pippen was portrayed unfairly, and they all respected Jerry Krause. Bill Cartwright didn’t think the Bulls would have won titles if Doug Collins continued to be the coach. Who knows? No one. The point is that the SportsBook needed an edge, and by asking some of the right quotations with the right talent, they found it.
The entire and unedited 47 minute video roundtable interview, produced on the Socialive video platform, can be viewed here.
The following is an interview with Senator Lesniak, from BonusSeeker.com.
The entire sports landscape has been flipped on its head for an undetermined amount of time due to the COVID-19 outbreak across the United States and as a result, the pandemic’s impact can be felt everywhere including the betting industry.
In the college basketball world, March Madness and the 2020 NCAA Tournament are no more, and flying away with them is the opportunity to shine a light on a seldom discussed issue with sports betting in New Jersey.
From the time it was signed into law in June 2018, legal sports betting in the Garden State has been a massive benefit for all parties. The huge population of fans gets the chance to wager on sports using regulated sites, the operators generate huge amounts of revenue, and in turn, plenty of tax dollars go to the state.
New Jersey features a wide range of sportsbooks to choose from, many with a seemingly never-ending catalog of betting markets that span a huge number of sports. All of this is why it has become the blueprint for every other state entering the market over the past year-and-a-half.
But there is one thing you won’t find at any sportsbook in New Jersey: the ability to wager on collegiate teams located in the state.
This topic finally had a shot to come into full view with both of the state’s prominent Division I athletic programs, Seton Hall and Rutgers, headed to the 2020 NCAA Tournament this year. The unfortunate cancelation of this year’s event means the Garden State’s only blemish when it comes to online sports betting wouldn’t have the chance to reach the forefront of our collective consciousness unless somebody put it there.
Why Would This Matter During March Madness?
Under New Jersey law, sportsbooks aren’t legally allowed to offer lines on college games that involve schools located inside the state. Collegiate events being played inside Garden State borders, even if none of the teams involved are from Jersey, are also off-limits.
The measure seemingly hasn’t mattered much to this point, mainly serving as evidence of a legislative concession made before the original bill was passed in 2012. But the truth remains that the ban on local teams negatively impacts sports betting in New Jersey from both a financial and a customer-experience point of view.
Part of the reason why this precondition has been largely ignored is that there haven’t been many high-quality athletic programs inside the state that bettors wanted to put their money on in any serious way.
As the 2019-20 season played out, that was no longer the case. Seton Hall earned a top-10 ranking this season for the first time in two decades while Rutgers was going to the NCAA Tournament for the first time since 1991. The Pirates and Scarlet Knights were each having huge seasons which included bids to the Big Dance and fans of both programs wanted to wager on their favorite teams during March Madness, but couldn’t.
For a minute, let’s imagine a utopia where the 2020 NCAA Tournament was still played as it was intended just a couple of weeks ago. As a result of the current law, New Jersey could be missing out on a chance to make even more in tax dollars, which can directly benefit people in the state via the government programs that this money goes toward.
If there is any flaw in the sports betting law in the Garden State, this is it.
Collegiate Sports Betting Ban Was Practical, Not Preferred
The current policy wasn’t the original intention of New Jersey lawmakers but as former Senator Raymond Lesniak put it, “it was a matter of practicality that it turned out that way.”
To understand how this compromise wound up in place, context is important. Luckily I had a chance to speak with Lesniak, who authored and introduced the pioneering bill that would not only bring sports betting to his state, but play a huge role in the fight that eventually led to the federal repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018.
Lesniak’s book, Beating The Odds: The Epic Battle That Brought Legal Sports Betting Across America, chronicles in great detail the years-long fight against the hypocrisy of both the federal government and professional sports leagues. Lesniak will enter the Sports Betting Hall of Fame this year to cement a well-earned legacy as someone who helped regulate the industry and laid the groundwork for it to flourish as it is today.
For now, let’s go back to 2011. After drafting his legislation, Lesniak’s top priority was making sure that regulated sports betting in New Jersey could make its way into law while opponents such as basketball Hall of Famer and former Senator Bill Bradley were actively trying to derail its passage.
“It was a political choice I made to make sure that we got the referendum through the legislature and passed by the voters,” Lesniak explained to Brian Sausa of BonusSeeker. “We weren’t clear that we would be able to get the votes in the legislature to put the referendum on the ballot.”
In order to quiet the noise and avoid the type of blowback that could kill the legislation, Lesniak decided losing a battle was worth winning the war. As it turns out, throwing Bradley (who led the charge to pass PASPA in the first place) and other opponents a bone in order to make sure the bill reached the voters was the right move.
Lesniak’s legislative efforts led directly to the passing of the Sports Wagering Act on two separate occasions (2012 and 2014), the latter of which granted casinos and racetracks the right to offer sports betting without licensing and regulation from the state.
In the wake of the repeal of PASPA (which had been in place since 1992) in June 2018, the legalization of sports betting in New Jersey has brought exactly the type of financial windfall that Lesniak expected it would several years before it came to fruition.
The first full year of regulated betting in New Jersey was 2019 and it saw the state take in over $4.5 billion in wagers, which produced around $300 million in revenue. After inserting a 9.75 percent tax rate for in-person bets and a 13 percent rate for mobile wagers, that means that over $36 million went right to state and local governments in taxes.
Once you lay out the numbers from all the sports combined, it’s easy to see why Lesniak and other sports betting proponents were ultimately fine with acquiescing to cut this tiny group of New Jersey teams from the equation.
But just because this was an understandable deal to make doesn’t mean that even Lesniak believes everything about the way betting laws are written in New Jersey is perfect.
Former NJ Senator: Betting Doesn’t Hurt Integrity Of Sports
Those against the passage of sports betting legislation cited integrity as a concern and wanted contests featuring in-state teams left off the board entirely. The weather on the moral high ground might be nice but this is not the hill to die on, metaphorically speaking.
On the surface it seems like a legitimate worry, especially considering the point-shaving scandals that have marred the image of the NCAA for decades since the 1950s. But in reality, the argument holds little water. And if you don’t believe me, take it from the man who wrote the bill.
“I would have preferred to have included college sports teams [in New Jersey],” Senator Lesniak admitted. “I don’t believe it’s a threat to the integrity of the sport, that’s why I sponsored it in the first place.”
What Lesniak and others fought for is completely lawful betting regulated by the state government. Previous attempts to compromise the integrity of college athletics were largely undertaken by organized crime syndicates gaining access to players as part of an unregulated underworld of illegal activity. The two really aren’t comparable, though Bradley may disagree.
To be very fair, it wasn’t only one person clinging to this perspective, as Lesniak had other opposition to worry about as well. “We thought it would be a focal point for the NFL and the NCAA to wage a campaign against it,” the Senator said in reference to allowing wagering on New Jersey schools.
If you’re wondering just how bad the threat posed to NCAA athletics by sports betting is, let us help you. There is so little credence given to the integrity argument that after operations in New Jersey launched, almost every other state passed sports betting legislation while allowing wagers on in-state collegiate teams.
So when push comes to shove, integrity never was and still isn’t an issue when it comes to regulated gaming. Unfortunately, Lesniak doesn’t see a scenario in which this law is amended to include wagering on programs that play in New Jersey.
“I do not believe we’re going to move to change it because it would isolate that issue before the voters and I think it’s a tough issue to argue isolated from the rest. So we’re going to let Pennsylvania get the benefit of betting on Rutgers to win the Big Ten Tournament,” quipped Lesniak, a Rutgers graduate and longtime supporter prior to March Madness being shut down.
Would NJ Have Missed Out On Sports Betting Revenue During March Madness?
We know that comparatively, the money made from just a few local schools would be a drop in the bucket next to the full-on tsunami of dollars rolling in from all of the other betting options that are offered in the state. With that said, the fact remains New Jersey would still be leaving money on the table.
So yes, it would have missed out on revenue even though March Madness is a cash cow as-is, it’s just a question of whether or not it would have been enough for anyone to notice.
One question worth asking might be: with part of sports betting tax money going toward social services, education, and other government programs, is there really any amount of money too insignificant?
Perhaps 30 regular-season games plus conference tournaments aren’t enough to turn any heads. But what if Rutgers, a team which excelled in the country’s best conference, made it deep into the NCAA Tournament this year?
What if Seton Hall, a likely top-three seed capable of a run to the Final Four, had made it all the way to Atlanta? Suddenly, it would have been a much larger faction of the betting population that is turned away as opposed to just fans of those two programs.
Perhaps what nobody wants to say out loud is that there simply isn’t enough of a financial impact made by the inclusion of just a few schools, even if the majority of their fans are residents of the state.
There isn’t really a way to quantify the amount necessary to ignite the questions needed to amend the law but one can’t help but feel as though if there was enough money to be made off allowing bettors to wager on New Jersey teams, the powers that be may start to see things differently.
We should also remember that since its foray into the gaming world, no arena in New Jersey has been chosen as a host site for any NCAA Tournament games, another thing that could also produce a significant amount of money for the state.
With an amendment to the law, however, the Garden State could have its cake and eat it too. It could host a series of March Madness events to a sold-out arena while making those games available for betting, both of which the state and its resident sports fans would benefit from.
How About Improving Customer Experience In New Jersey?
While the industry is currently in a standstill, betting in the Garden State has been unmistakably prosperous. And quite simply, the only reason New Jersey has experienced such a financial boon in such a short time is because of the bettors.
If people didn’t download the app to wager or show up to the window at one of the state’s casinos, there would be no revenue or taxes to be collected. Feels like a pretty simple concept, no?
Even though there are tons of betting options, college sports are hugely popular and the law doesn’t do everything it can to help the experience of the people that essentially raised $36 million in new tax dollars in 2019. As one New Jersey resident and Seton Hall fan told us, some don’t quite understand the game of geographical gymnastics that they’ve been forced into.
“I don’t feel like I should have to drive an hour, or 90 minutes, or two hours to place a bet when I only live a couple miles from the arena where they play all the games,” Brian Flynn explained. “So I don’t really get why it’s like this, why wouldn’t you want people to bet more?” he asked.
It’s a great question. The word ‘fan’ is short for fanatic, so it makes sense that people love to wager on the teams they root for. It’s part of human nature to feel like your favorite school is going to win and for many casual bettors, wagering on your own team enhances the game-watching experience. And when a fan’s team is achieving success, many fans will continue betting on that team regularly.
But without the option, New Jersey is watching other states walk off with money from its residents, just as offshore sportsbooks were doing not so long ago.
Is It Time To Consider Amending Sports Betting Law?
As a frequent sports bettor who places his wagers legally in New Jersey, the prohibition on local teams is something that has never sat well with me.
So when I spotted a high-ranking official from the New Jersey Department of Gaming Enforcement leaving the 2019 Sports Betting USA Conference in Manhattan, I opted to approach him and his colleague, another important DGE employee.
I lightheartedly remarked that the state may have to take a look at some of its rules if an in-state school like Seton Hall or Rutgers made a postseason run in basketball or football postseason due to the money that could potentially be made or lost.
Both men grinned and chuckled momentarily but didn’t seem to make much of the thought, probably imagining the farfetched likelihood Rutgers’ bottom-of-the-barrel football program going to the College Football Playoff. That remains unlikely, and it’s not as though the Scarlet Knights or Seton Hall has been historically considered a basketball powerhouse of any kind, either.
A few short months later, however, and there’s little to laugh about. This precondition was necessary at the time and sports betting in New Jersey may not exist without it, but now it’s 2020 and New Jersey’s teams were about to play a significant role in March Madness. So you’d have to excuse fans and bettors in the state for not getting the joke.
New Jersey would be missing out on opportunities to pull in more tax dollars while providing a service many residents desire because of an antiquated compromise that doesn’t even protect the integrity of the sport. The entire exchange reminded me of an excerpt from Lesniak’s book, where he references DGE director David Rebuck proclaiming his goal was to make New Jersey the top market for sports betting in the country.
The Garden State has gone a long way toward achieving this goal, passing incumbent Nevada in monthly handle and revenue in May 2019 for the first time, just a year after betting was launched. In fact, in the 13 months from June 2018 to September 2019, New Jersey pulled in nearly $9 million more than Nevada in tax revenue.
Things are indeed going very well as a whole, but wouldn’t it be wise to tap all available resources and exhaust all revenue-generating options? Perhaps then, it would be just a little bit easier to attain the ultimate goal of staying on the industry mountain top.
Once things make dollars, they seem to make sense, and this has been the case with sports betting all along. For the very first time, it’s possible that allowing betting on collegiate teams and sporting events in the state could help generate revenue for New Jersey. And it’s time everyone starts paying attention.
Carousel Group, a privately-held holding company that operates in the regulated online gaming industry, announced today the launch of SportsBetting.com after being granted an internet sports betting operator license from the Colorado Division of Gaming on April 30.
The company’s flagship brand, www.SportsBetting.com, will serve as the web and mobile app betting odds portal for customers within Colorado state lines.
“This is our first venture in the U.S. so our resources are focused and committed to the Colorado market,” Carousel Group CEO Daniel Graetzer said. “Colorado and its residents embody what our company values – a progressive and innovative approach to business and life – so we are thrilled to be making our rookie debut in such a great state.”
Carousel Group is partnering with local TV, radio, podcasts and print, as well as restaurants and bars, to expand the brand’s reach and awareness. Local businesses are encouraged to contact the company to present sponsorship opportunities.
The group also plans to support state-run charities and non-profit organizations.
“We want to dig our heels into the grass and snow and make a lasting footprint in Colorado’s community and economy,” Graetzer said. “While some of our competitors have closed their doors and laid off employees in the U.S., we’re looking to hire local talent.”
In another atypical approach, SportsBetting.com runs on Carousel Group’s proprietary in-house platform, which allows it to bring a unique product to the market. This is in contrast to the methodology many gambling companies have taken over the last two years since sports betting became legal in the U.S.
“We have built our business behind a team with more than 50 years of experience in the gaming industry. That, combined with our own technology, gives us a huge advantage over the competition,” Graetzer added. “It’s in our DNA to be innovative and with our own infrastructure we will offer something fresh, exciting and customer-driven to the U.S. betting community.”
SportsBetting.com is in the deep development stages and will be live prior to the 2020 football season.
The Drone Racing League (DRL), the world’s premier, professional circuit for drone racing, today announced that the first-ever fantasy virtual drone racing series, the 2020 FanDuel DRL SIM Racing Cup, will premiere on Saturday, May 16 at 2:30pm ET on NBCSN. The series will run for eight weekends on NBCSN and Twitter. The schedule is as follows:
Saturday, May 16th at 2:30pm
Sunday, May 24th at 3pm
Sunday, May 31st at 2pm
Sunday, June 7th at 2pm
Sunday, June 14th at 1pm
Saturday, June 20th at 12pm
Sunday, June 28 at 12pm
Sunday, July 5th at 12pm *Dates and times subject to change
The 2020 FanDuel DRL SIM Racing Cup will feature 12 elite DRL pilots battling it out on the DRL SIM, the true-to-life drone racing simulator, for the chance to be crowned the series’ Champion. Fans tuning in will feel as if they are in the drone’s cockpit as the pros fly digital versions of custom DRL drones through historic DRL maps and never-seen-before tracks, all from their homes around the globe including the U.S., Canada, the U.K. and Switzerland.
“DRL authentically merges the digital with the real, so we’re thrilled to highlight the virtual side of drone racing on NBCSN and Twitter starting this Saturday. The high-speed, futuristic racing combined with daily fantasy is great for the whole family — and it’s all for an amazing charity supporting frontline workers,” said DRL President Rachel Jacobson.
All pilots have committed to donate their winnings to Direct Relief, the largest charitable provider of protective gear and medical essentials to health facilities in response to Covid-19. The funds donated will help Direct Relief continue to get protective gear to frontline workers during the pandemic.
“Direct Relief is so deeply grateful for the leadership and commitment reflected by the Drone Racing League and its players,” said Thomas Tighe, President and CEO of Direct Relief. “This support translates into immediate, practical help, and is such a wonderful example of everyone pulling together and doing whatever we can to protect those who are most vulnerable.”
Indiana sportsbooks suffered their worst month ever in April — including a retail sector that did not produce a single bet — costing sportsbooks an estimated $165 million in bets, according to estimates from PlayIndiana.
With a minimized schedule of sports to bet on and casinos closed for the entire month, Indiana generated just $26.3 million in wagers, according to official reporting released Monday. During a month in which online and retail sportsbooks would have expected to draw at least $190 million in bets, April’s handle was down 64.8% from $74.8 million in March. That’s the lowest monthly handle ever for Indiana sportsbooks.
“April’s results are shocking, but not at all surprising,” said Dustin Gouker, chief analyst for PlayIndiana.com. “Bettors have very few places to turn in Indiana. In some states, online casinos have driven significant revenue. But that isn’t possible in Indiana. So the industry’s results will continue to be grim until the sports world figures out a way to reopen.”
April’s wagers still produced $5.5 million in adjusted gross revenue, essentially even with March. That yielded $522,085 in state taxes.
Without legal online casino games, poker, or esports betting, bettors in Indiana have largely been limited since mid-March to fringe international sports and futures betting. In fact, $21 million of the state’s handle was generated by “other” sports, far more than football, basketball, and baseball.
The NFL Draft gave bettors some reason to engage with sportsbooks in April. Indiana, the first state to allow betting on professional sports drafts, generated $1.3 million in football-related wagers in April.
“The shut down of sports has led to some creativity by Indiana’s bookmakers, and that creativity was rewarded with interest in the NFL Draft,” said Jessica Welman, analyst for PlayIndiana.com. “Even though Indiana has missed out on some opportunities, regulators have at least been nimble enough to allow some unconventional ideas.”
There are reasons for cautious optimism. NASCAR is planning on revving up in May, which could draw betting interest. The PGA Tour is planning a June tee off while baseball and the NBA continue to search for a workable solution to restart their seasons. In addition, Indiana’s casinos and retail sportsbooks could open as early as June 14.
“It could be that April is the low point in what will undoubtedly still be a struggle until sports can resume with their regular schedules,” Gouker said. “If sports do resume relatively soon, online sportsbooks should recover quickly. In the meantime, sportsbooks will continue to look for creative ways to drive revenue.”
Not all ventures around sports are sitting still during the Pandemic. While we have seen the dropping numbers and issues with the big gambling businesses, we have seen Draft Kings launch their IPO, and today, New York based QL Gaming Group (QLGG), announced a $1.1 million raise and the acquisition of Finnish sports simulation company, Accuscore. The announcement gives the platform a solid $8.3 million from investors now, and shows that the ruse is probably being shaken off the mobile gaming business as sports slowly return to the pitch, the field and the court.
According to the news, the round was led by Tim and Todd McSweeney, with participation by Boston Seed Capital, Karlani Capital, Subversive Capital, Rob Seaver and Jere Doyle. Other investors have also included the late David Stern, former commissioner of the NBA, John Kosner, Stern’s former partner at Micromanagement Ventures and former William Hill chief Ralph Topping.
“Our thesis is betting properties with the best data and analytics will win, and our acquisition of Accuscore vastly increases our IP, grows our marketplace position and puts us in a very strong place as the sports world returns to active play in the near future,” said Justin Park, QL Gaming CEO in the release. “Our new and long term investors are very bullish on the casual gaming and sports betting market, and we are now poised to emerge stronger.”
The injection of capital will be used to further accelerate BetQL’s growth, which boasted a 200% increase in subscription sales from 2018 to 2019. In just 18 months of launch, BetQL has acquired over 300,000 free users, 10,000 paying customers and is already a seven figure business. Funds will also supercharge BetQL’s burgeoning affiliate marketing business which has partnered with ten operators in Indiana, New Jersey, Pennsylvania and West Virginia. QL Gaming initially launched in September 2015 as RotoQL to provide data and analytics to daily fantasy sports (DFS).
The news is good for both investors and companies that had started to build momentum in the gambling space before things came to a grinding halt around March 12. Many industry experts remain bullish on the gambling space, especially with companies who are not debt laden and can easily pivot to a new environment when sports come back to life in the coming weeks. There will also be a solid analysis of best practices, including a great mobile experience, and the QL Gaming plan is tied to all of those objectives.
“For companies looking to enter the sports betting space, there will be some very interesting opportunities in sectors that support the ecosystem, such as specialized sports content, analytics, and software,” added Chris Russo, CEO, Fifth Generation Sports an advisory firm focused on the intersection of sports, technology, and digital media.
Interesting yes, cost effective, disruptive and forward thinking as well.
The NFL Draft Round One produced record-setting handle for PlaySugarHouse.com in New Jersey and a plethora of first-round surprises. Here are some highlights:
Both handle and bet counts are already triple last year’s numbers for the full draft even though we are only a day into the 3 day event.
76% of all sports betting handle yesterday at PlaySugarHouse.com in New Jersey was bet on the NFL. The overwhelming majority was wagered on the draft, although there was some betting on futures and non-draft props.
The largest bet of the day was a nearly $5000 bet on the first wide receiver being drafted to be CeeDee Lamb of Oklahoma. In fact, Lamb to be the first receiver taken was the most popular bet of the entire night. He was third behind Alabama wide receivers Henry Ruggs and Jerry Jeudy. Ruggs was taken as the 12th overall pick by the Las Vegas Raiders and was a first-round surprise. Jeudy was selected 15th, by the Denver Broncos, and Lamb was taken 17th, by the Dallas Cowboys. Ruggs had the fastest time of any player in the NFL Combine. Ruggs returned +400 as the first receiver taken and combined with Jeudy and Lamb to pay bettors +650 in a unique trifecta wager. It required the bettor to select the top three receivers taken, in exact order.
The New York Giants produced the first-and largest first-round betting surprise by taking offensive tackle Andrew Thomas of Georgia as the fourth pick. He was +1000. The Giants had been expected to take either Tristan Wirfs of Iowa or Isaiah Simmons from Clemson in that spot. Both Wirfs and Simmons had been showcased in wagers to be drafted in the Top 5 overall.
Another popular prop was Tua Tagovailoa of Alabama to be the second quarterback drafted. The majority of players won on this bet. After LSU quarterback Joe Burrow was the first player selected in the draft, Tagovailoa was taken fifth by the Miami Dolphins. This also rewarded bettors who pegged him to be taken by Miami.
Another highly-popular prop was how many wide receivers were drafted in the first round. The bet was over-under 5.5. The over won as there were 6.
One bet receiving strong play was over 0.5 running backs to be taken in the first round. This bet won on the final pick in the first round with Clyde Edwards-Helaire going to the Super Bowl champion Chiefs.
Offensive linemen were quite popular in round 1. The over/under opened at 5.5, but moved to 6.5 close to draft night, with the line closing at 6.5 over -200. There were seven linemen drafted, rewarding the over bettors.
Still open: Cole Kmet of Notre Dame to be the first tight end taken is one of the 10 most popular bets PlaySugarHouse.com received, and with no tight ends off the board in the first round, this bet is still open and available to be bet.
Xavier McKinney from Alabama was the most bet safety to be the first to come off the board. With no safeties drafted in the first round, this bet is also still open.
“This was an outstanding opening night for the NFL draft,” said Mattias Stetz, C.O.O of Rush Street Interactive, which operates PlaySugarHouse.com. “We are delighted with the strong wagering action and how bettors supported many imaginative prop bets. They really prepared well for the draft and they weren’t afraid to bet heavily on some long shots.”
SportsGrid, the nation’s leading streaming video platform dedicated to the sports betting and daily fantasy audience, reached a multi-year agreement with Sportradar to power its real-time data, statistics and analytic solutions.
Under the terms of the agreement, Sportradar is providing the tools, data products and machine learning technology to enable SportsGrid to provide real-time in-game odds and digital analytics combined with statistical data and graphical visualizations. The Sportradar tools and data products furnish SportsGrid with access to new functionality, robust deep data sets, and comprehensive major sports league coverage within Sportradar’s cutting-edge research platform, Radar360.
With these tools and products, SportsGrid is taking storytelling around betting and fantasy sports to the next level. With access to real-time data in addition to Sportradar’s historical data, consumers can expect exciting, new storylines to emerge from SportsGrid on a regular basis.
“In an age of real-time connections and analysis, the Sportradar agreement broadly expands the capabilities and functionality of the production staff, talent and operational management team. Radar360 reduces the analytic workloads and creates more opportunities for compelling insightful storylines and maximizes our fan engagement across the SportsGrid distribution platform,” said Lou Maione, founder and President of SportsGrid.
“We are pleased to be working with SportsGrid to bolster its content offerings and increase fan engagement,” said Dave Abbott, MD of US Media, Sportradar. “By adding our real-time data and products like Radar360 to the mix, SportsGrid is supercharging the betting and fantasy content that its consumers already love.”
IGT and William Hill provide Ocean State Sports Fans with Elevated Interface and More Ways to Bet on New Sportsbook Rhode Island Mobile App and Website
IGT Global Solutions Corporation and William Hill U.S. today announced the release of enhanced versions of both the Sportsbook Rhode Island mobile app and website.
The new app, available for iOS and Android devices, and website (sportsbetrhodeisland.com) provides sports fans in the Ocean State a more streamlined experience featuring an elevated interface, an expanded wagering menu, and an additional way for patrons to fund their accounts.
The elevated user interface, powered by IGT PlaySports technology, offers an improved navigation design for both live and upcoming sporting events and a more efficient wagering process with significantly fewer steps, from start to finish, to place a bet.
“Recent IGT PlaySports technology updates for the Rhode Island Lottery provide Sportsbook Rhode Island users an elevated player experience,” said Enrico Drago, IGT PlayDigital Senior Vice President. “These updates also position the Rhode Island Lottery for success when professional sports return in full force.”
Sportsbook Rhode Island users can now wager on a wider selection of futures and prop bet options on popular sporting events. For example, pro football fans can pick “Which team will have more regular season wins in 2020 – New England or Tampa Bay?” The expanded wagering menu, powered by William Hill Sports Book, has been adjusted with the pause of US sports. The menu now features new international sports including Russian Table Tennis, Taiwanese Basketball, and Nicaraguan and Belarusian Premier League Soccer.
“We are excited to continue to innovate with the Rhode Island Lottery and IGT. We are adding alternative sports and additional prop bets to our wagering menu now and look forward to supporting Rhode Island even more when sports return to the U.S.,” added Ken Fuchs, William Hill US President of Digital.
In addition to E-Check, users of the Sportsbook Rhode Island app and website now have the option to fund their accounts electronically with Debit Cards.
In November of 2018, IGT and William Hill partnered with the Rhode Island Lottery to open New England’s first sports books at Twin River Casino and Tiverton Casino. The debut version of the Sportsbook Rhode Island mobile app went live in September of 2019.
