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.”
College football bettors are looking forward to watching the first ranked Florida Gators take on the second ranked Alabama Crimson Tide in the 2009 SEC Championship Game in Atlanta this Saturday December 5th, 2009 at 4 PM EST. The bookies offshore and in Vegas are anxious as well with significant handle expected on the first big game of December. Both teams roll into the game undefeated with National Title aspirations on their mind. The winner gets a ticket to play in the 2010 BCS Championship Game and the loser will most likely play in the Sugar Bowl.
Pretty much every betting shop on the planet needs Nick Saban’s Alabama squad to upset Tim Tebow and the Florida Gators.
The Crimson Tide will certainly have revenge on their mind considering that the Florida Gators beat Alabama in the 2008 SEC Championship 20-31. The loss last year was the first of the season for Alabama and knocked Saban’s crew out of the BCS Championship game, which Florida went on to win. Expect Alabama to be focused on their assignments this week and fired up for this game.
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.
Las Vegas Sands’ Singapore casino Marina Bay Sands (MBS) is reporetedly being investigated by the US Department of Justice for potential violations of anti-money laundering (AML) regulations.
On Thursday, Bloomberg reported that the DOJ had issued a grand jury subpoena in January to a former MBS compliance chief seeking information on “money laundering facilitation” and possible abuse of internal financial controls in the casino’s dealings with its VIP gamblers and junket operators.
MBS responded to Bloomberg’s inquiries saying it takes any suggestions of impropriety seriously and investigates all assertions of wrongdoing brought to its attention. The DOJ has neither confirmed nor denied the report and Bloomberg sources claimed that neither MBS nor its parent company had received any requests from the DOJ regarding this latest probe.
It’s unclear if the DOJ subpoena has any connection with a corruption case currently before the courts in Indonesia’s capital Jakarta. Heru Hidayat, president of local shipping giant PT Trada Alam Minera, stands accused of pilfering state assets and laundering the cash through casinos in Macau, New Zealand and Singapore, including MBS and its local rival Resorts World Sentosa.
Las Vegas Sands’ Singapore casino Marina Bay Sands (MBS) is reporetedly being investigated by the US Department of Justice for potential violations of anti-money laundering (AML) regulations.
On Thursday, Bloomberg reported that the DOJ had issued a grand jury subpoena in January to a former MBS compliance chief seeking information on “money laundering facilitation” and possible abuse of internal financial controls in the casino’s dealings with its VIP gamblers and junket operators.
MBS responded to Bloomberg’s inquiries saying it takes any suggestions of impropriety seriously and investigates all assertions of wrongdoing brought to its attention. The DOJ has neither confirmed nor denied the report and Bloomberg sources claimed that neither MBS nor its parent company had received any requests from the DOJ regarding this latest probe.
It’s unclear if the DOJ subpoena has any connection with a corruption case currently before the courts in Indonesia’s capital Jakarta. Heru Hidayat, president of local shipping giant PT Trada Alam Minera, stands accused of pilfering state assets and laundering the cash through casinos in Macau, New Zealand and Singapore, including MBS and its local rival Resorts World Sentosa.
Sports betting operator DraftKings has added Michigan to its list of legal wagering states via a deal with a local tribal casino operator.
On Thursday, DraftKings announced that it had signed on with the Bay Mills Resort & Casino outside Sault Ste. Marie, Michigan, which is operated by the Bay Mills Indian Community. The deal covers a retail sportsbook as well as mobile and online betting, although Michigan isn’t expected to have its digital betting regulations in place until next year.
The deal, which is subject to the standard regulatory conditions, will expand DraftKings’ presence in US legal betting states to 10, joining Colorado, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia.
DraftKings share price, which has been on an absolutely untethered-from-reality tear since its listing on the Nasdaq exchange in late-April, is currently up around half-a-buck to $40.70, roughly four times its value at the time of its initial public offering.
The New Zealand Racing Industry Transition Agency (RITA) have announced a 30% staffing cut to subsidiary TAB NZ due to the economic pressure of the COVID-19 pandemic.
It was confirmed that 230 staff, including 150 permanent staff, were axed in a cost-cutting exercise that will save the company NZ$11 million. RITA COO Stephen Henry stated that the cancellation of sporting events in New Zealand would cost the company $14 million.
Popular TAB NZ bookie Mark Stafford was the highest-profile victim of the job cuts. The twenty-year veteran had made a name for himself, providing odds on All Blacks and Black Cap matches.
Stafford thanked the New Zealand public for their support on Twitter:
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,”
Germany’s Bundesliga may have been the first major soccer (or football, depending on which side of the pond you’re on) league to get back into action, but it soon won’t be alone. The UK’s Premier League announced yesterday that it now has a plan to resume games, and it should make soccer fans extremely happy. Not only will the season resume in a few short weeks, but every match is going to be broadcast live. Anyone suffering from soccer withdrawal will now be able to get a massive fix.
The Premier League will have been suspended for a total of 100 days when players finally get back on the field on June 17. The league’s “Project Restart” will have two games played on that day, with the rest of the season running almost non-stop starting two days later. The first contests will be Arsenal against Manchester City and Sheffield United against Aston Villa.
Richard Masters, the Premier League’s CEO, throws out a word of caution designed to keep everyone from getting overly excited, since Project Restart relies on the input of health officials and teams’ adherence to health policies. He explains, “Today we have provisionally agreed to resume the Premier League on Wednesday, 17 June. But this date cannot be confirmed until we have met all the safety requirements needed, as the health and welfare of all participants and supporters [are] our priority.
“Sadly, matches will have to take place without fans in stadiums, so we are pleased to have come up with a positive solution for supporters to be able to watch all the remaining 92 matches. The Premier League and our clubs are proud to have incredibly passionate and loyal supporters. It is important to ensure as many people as possible can watch the matches at home. We will continue to work step-by-step and in consultation with all our stakeholders as we move towards resuming the 2019-20 season.”
Germany’s Bundesliga may have been the first major soccer (or football, depending on which side of the pond you’re on) league to get back into action, but it soon won’t be alone. The UK’s Premier League announced yesterday that it now has a plan to resume games, and it should make soccer fans extremely happy. Not only will the season resume in a few short weeks, but every match is going to be broadcast live. Anyone suffering from soccer withdrawal will now be able to get a massive fix.
The Premier League will have been suspended for a total of 100 days when players finally get back on the field on June 17. The league’s “Project Restart” will have two games played on that day, with the rest of the season running almost non-stop starting two days later. The first contests will be Arsenal against Manchester City and Sheffield United against Aston Villa.
Richard Masters, the Premier League’s CEO, throws out a word of caution designed to keep everyone from getting overly excited, since Project Restart relies on the input of health officials and teams’ adherence to health policies. He explains, “Today we have provisionally agreed to resume the Premier League on Wednesday, 17 June. But this date cannot be confirmed until we have met all the safety requirements needed, as the health and welfare of all participants and supporters [are] our priority.
“Sadly, matches will have to take place without fans in stadiums, so we are pleased to have come up with a positive solution for supporters to be able to watch all the remaining 92 matches. The Premier League and our clubs are proud to have incredibly passionate and loyal supporters. It is important to ensure as many people as possible can watch the matches at home. We will continue to work step-by-step and in consultation with all our stakeholders as we move towards resuming the 2019-20 season.”
Germany’s Bundesliga may have been the first major soccer (or football, depending on which side of the pond you’re on) league to get back into action, but it soon won’t be alone. The UK’s Premier League announced yesterday that it now has a plan to resume games, and it should make soccer fans extremely happy. Not only will the season resume in a few short weeks, but every match is going to be broadcast live. Anyone suffering from soccer withdrawal will now be able to get a massive fix.
The Premier League will have been suspended for a total of 100 days when players finally get back on the field on June 17. The league’s “Project Restart” will have two games played on that day, with the rest of the season running almost non-stop starting two days later. The first contests will be Arsenal against Manchester City and Sheffield United against Aston Villa.
Richard Masters, the Premier League’s CEO, throws out a word of caution designed to keep everyone from getting overly excited, since Project Restart relies on the input of health officials and teams’ adherence to health policies. He explains, “Today we have provisionally agreed to resume the Premier League on Wednesday, 17 June. But this date cannot be confirmed until we have met all the safety requirements needed, as the health and welfare of all participants and supporters [are] our priority.
“Sadly, matches will have to take place without fans in stadiums, so we are pleased to have come up with a positive solution for supporters to be able to watch all the remaining 92 matches. The Premier League and our clubs are proud to have incredibly passionate and loyal supporters. It is important to ensure as many people as possible can watch the matches at home. We will continue to work step-by-step and in consultation with all our stakeholders as we move towards resuming the 2019-20 season.”
Germany’s Bundesliga may have been the first major soccer (or football, depending on which side of the pond you’re on) league to get back into action, but it soon won’t be alone. The UK’s Premier League announced yesterday that it now has a plan to resume games, and it should make soccer fans extremely happy. Not only will the season resume in a few short weeks, but every match is going to be broadcast live. Anyone suffering from soccer withdrawal will now be able to get a massive fix.
The Premier League will have been suspended for a total of 100 days when players finally get back on the field on June 17. The league’s “Project Restart” will have two games played on that day, with the rest of the season running almost non-stop starting two days later. The first contests will be Arsenal against Manchester City and Sheffield United against Aston Villa.
Richard Masters, the Premier League’s CEO, throws out a word of caution designed to keep everyone from getting overly excited, since Project Restart relies on the input of health officials and teams’ adherence to health policies. He explains, “Today we have provisionally agreed to resume the Premier League on Wednesday, 17 June. But this date cannot be confirmed until we have met all the safety requirements needed, as the health and welfare of all participants and supporters [are] our priority.
“Sadly, matches will have to take place without fans in stadiums, so we are pleased to have come up with a positive solution for supporters to be able to watch all the remaining 92 matches. The Premier League and our clubs are proud to have incredibly passionate and loyal supporters. It is important to ensure as many people as possible can watch the matches at home. We will continue to work step-by-step and in consultation with all our stakeholders as we move towards resuming the 2019-20 season.”
Germany’s Bundesliga may have been the first major soccer (or football, depending on which side of the pond you’re on) league to get back into action, but it soon won’t be alone. The UK’s Premier League announced yesterday that it now has a plan to resume games, and it should make soccer fans extremely happy. Not only will the season resume in a few short weeks, but every match is going to be broadcast live. Anyone suffering from soccer withdrawal will now be able to get a massive fix.
The Premier League will have been suspended for a total of 100 days when players finally get back on the field on June 17. The league’s “Project Restart” will have two games played on that day, with the rest of the season running almost non-stop starting two days later. The first contests will be Arsenal against Manchester City and Sheffield United against Aston Villa.
Richard Masters, the Premier League’s CEO, throws out a word of caution designed to keep everyone from getting overly excited, since Project Restart relies on the input of health officials and teams’ adherence to health policies. He explains, “Today we have provisionally agreed to resume the Premier League on Wednesday, 17 June. But this date cannot be confirmed until we have met all the safety requirements needed, as the health and welfare of all participants and supporters [are] our priority.
“Sadly, matches will have to take place without fans in stadiums, so we are pleased to have come up with a positive solution for supporters to be able to watch all the remaining 92 matches. The Premier League and our clubs are proud to have incredibly passionate and loyal supporters. It is important to ensure as many people as possible can watch the matches at home. We will continue to work step-by-step and in consultation with all our stakeholders as we move towards resuming the 2019-20 season.”
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