Category Archives: Sports Betting

The agreement, which will lead to a 3,000-square-foot gambling lounge inside Rocket Mortgage FieldHouse, comes on the heels of Ohio legalizing sports betting.

CLEVELAND *EDITOR'S NOTE: The above video is from a previous story.

Even with Ohio Gov. Mike DeWine signing a bill to legalize sports gambling in the state, a lot remains unknown about what it will look like. After all, wagering doesn't even have to be available to citizens until 2023.

But whenever Ohioans can start placing bets on games, we now know they will be able to do so at one of Cleveland's most high-profile locations.

The Cavaliers on Tuesday announced an agreement to make Fubo Sportsbook "Official Mobile Sports Betting Partner of the team." Under the terms of the deal, a 3,000-square-foot gambling lounge will be coming to Rocket Mortgage FieldHouse, where fans will be able to watch and wager on games from around the NBA.

Cavs CEO Len Komoroski released the following statement:

"This is an exciting evolution of our continued partnership with Fubo Gaming. The Fubo Sportsbook mobile wagering platform provides leading technology, connectivity and entertainment that aligns perfectly with our commitment to innovation and engagement across every aspect of the fan experience. We look forward to the continued collaboration with Fubo as we work to establish a best-in-class sports betting marketplace to offer our fans in Cleveland and throughout the state of Ohio."

The Ohio General Assembly overwhelmingly passed House Bill 29 in December before DeWine signed it into law, marking the end of a long and at times messy process to finally bring legal sports gambling to the Buckeye State. While concerns have remained regarding just who will be able to take bets and make the most money, casinos and sports entities have already been preparing for the still-to-be-determined launch date.

Based in Chicago, Fubo Gaming launched its sportsbook app in 2021 and it is now live in Iowa and Arizona. The platform allows users to not only place bets, but go interactive with a livestreaming experience.

Fubo Gaming President Scott Butera said:

"The opportunity to enter the Ohio sports betting market with the Cavaliers as our partner is a major step forward for Fubo. Ohio has a passionate fan base who will enjoy Fubos uniquely integrated streaming and wagering sports betting experience. The Cavs are at the forefront of sports innovation and consistently create highly engaging fan experiences. This partnership provides Fubo instant access to a highly attractive customer base."

Neither Fubo nor the Cavaliers gave any indication as to when the app will officially launch in Ohio. Regardless, it almost certainly won't be available by Feb. 20, when Rocket Mortgage FieldHouse is set to host the NBA All-Star Game.

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Fubo Sportsbook to become 'Official Mobile Sports Betting Partner' of Cleveland Cavaliers - WKYC.com

Mobile sports betting went live in 55 of Louisianas 64 parishes the equivalent to counties in most other states on Jan. 28.

So what about the other nine?

While sports betting is legal in Louisiana, the voters of each parish were permitted to decide whether they wanted such wagering to take place within their borders. And after ballots were counted, nine parishes Caldwell, Catahoula, Franklin, Jackson, LaSalle, Sabine, Union, West Carroll, and Winn in the northern half of the state opted out.

But why?

Any course on Louisiana politics is going to start with an explanation of why South Louisiana is different than North Louisiana, explained Jeremy Alford, editor and publisher of the Baton Rouge-based LaPolitics Weekly. You have a very strong Baptist and Protestant presence in North Louisiana. Its always been a touch more conservative and religious. Anyone whos been following Louisiana politics probably wasnt surprised when they opted out of sports betting. These are the same parishes that opted out of video poker in the 1990s.

Dr. Ed Chervenak, a political scientist at the University of New Orleans, effectively concurs.

When you look at Louisiana, you have to break it up into three regions, he told Sports Handle. You have the southeast region, anchored by New Orleans. Then out west you have Acadiana, anchored by Lafayette. Then you have Northern Louisiana. Its white, Christian conservative. The religiosity just plays a bigger role in Northern Louisiana than it does elsewhere.

I spent two months up in West Monroe when I was evacuated for Katrina, and it was just very different up there. The first question they ask is, What church do you belong to?'

The church of football, at least for some. The launch of sports betting was gangbusters for the state, especially in and around New Orleans, perhaps Americas most permissive municipality outside of Las Vegas.

But northerners did their part as well, and a peculiar bit of GeoComply tracking data seems to indicate that more than a few residents of the no-bet nine have gotten in on the action by getting into their cars and driving to the parishes of Ouachita and Lincoln, where they can legally wager on their phones.

Theres a stretch of Interstate 20 in the north central part of Louisiana that runs through Monroe and Ruston. These towns arent in the parishes that opted out of sports betting, but theyre tucked in neatly amidst the no-bet nine.

According to GeoComply, which tracks mobile betting transactions in much of North America, about 1.7% of Louisianas population resides near this stretch of I-20. (This is factoring in some 10,000 college students at Grambling State and Louisiana-Monroe who may or may not count toward the states population total.) But between Jan. 28 and the morning of Feb. 8, that stretch accounted for 3.6% of the states mobile sports betting transactions and 3.5% of its unique count of user IDs.

There is some traffic there that I dont think is organic, said Danny DiRienzo, GeoComplys senior director of government relations. Youre looking at about double what you could expect from organic traffic if youre just looking at the population of those areas.

Summing up this sliver of the state, which he called a bit of a heat map, DiRienzo added, Thats a fair amount of geolocation traffic in a not-so-populated area.

Briefly leaving a state where its illegal to bet to get action down in one where sports wagering is allowed is nothing new in the United States. But Louisianas parish-by-parish patchwork makes it a wholly unique crustacean. And judging from GeoComplys data, theres a fair amount of intrastate border-crossing occurring on the interstate, where folks just want to get a bet down and head to church.

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Sports Betting Banned In Nine Louisiana Parishes, But Bettors Find A Way - Sports Handle

In November, I went to the most unpleasant event Ive ever attended, located in a warehouse-like bar in downtown Manhattan and devoted entirely to the subject of NFTs. It was hosted by Gary Vaynerchuk, better known as Gary Vee, the motivational speaker-slash-entrepreneur-slash-influencer whom my boyfriend was profiling for another publication. The crowd primarily consisted of hordes of men, who were not wholly unpleasant themselves but who spoke a language so impenetrable to outsiders that being around them made me feel as though Id missed something major.

They seemed to work in tech or finance, mostly, and had come to connect with others over the thing they loved most in the world, the wild force driving the feeding frenzy of people storming the bouncer to get inside: money, and making it as quickly as possible. The events attendees were at the extreme end, of course, but their language has started trickling into the mainstream as well. If Instagram made everyone a photographer and Twitter made everyone a writer, perhaps whatever the internet has done to the traditional banking system is in the process of turning us all into finance bros.

There has never been a more opportune time to have money as a hobby. Options trading, once the provenance of professional financiers, has soared with the rise of stock trading platforms like Robinhood, which makes it extraordinarily easy to buy and sell individual stocks. Stories of artists making hundreds of thousands on NFTs of their work and of cryptocurrency enthusiasts making bank buying and selling them have abounded over the past year. A wave of legalization of online sports betting has swept the country, and with it, lucrative promotions for first-time gamblers that offer what is essentially free money. Not only did the pandemic create a mass of people who were bored and restless, it also created some people with enough financial privilege to try something a little risky with their $1,400 stimulus check.

The gamification of money, and the blurring boundaries between what constitutes investing and what constitutes entertainment, have raised plenty of concerns, and many argue that the government is too far behind the times to adequately address it. Gambling went from being something that was super taboo to being easier than ordering food on Uber Eats, says Josh Clayton, a 29-year-old copywriter in Brooklyn. You watch a sports game and every commercial is an ad for sports betting.

Josh started sports betting thanks to the massive deal that Caesars, one of the largest online sportsbooks, was offering new users: a free $300 to bet just for signing up, plus a match of up to $3,000. He put in $50 of his own money but cashed out with around $800. A lot of sports fans love to talk about their teams and pretend that theyd be a better head coach than the guy who is eminently qualified and gets paid $40 million a year, he says. Sports betting gives you a little taste of making those decisions, and when you win, it feels like a validation of you being smart.

Its similar to what people who invest in stocks or crypto feel when something moons, or rises in value extremely quickly. It just totally took over my life in the span of, like, a week, said Jeff Andrews, a 40-year-old data reporter and a former coworker of mine. Less than a month ago, two of his friends who work in private equity told him about the tens of thousands of dollars they made in NFT trading, and then gave him advice on what to buy next. Since then, hes made around $25,000, thanks to several moons he scored through tips that trickled in from multiple group chats and Discord servers.

Because of the ways in which this type of information disseminates in subreddits, in breathless Twitter threads, on niche Discord servers the world of betting and investing is dominated heavily by people who are already well-represented in tech, finance, and internet culture, which is to say that it is overwhelmingly young and male. Proponents of crypto love to talk about the benefits of decentralizing the financial system, how it can allow for historically underrepresented groups to build wealth, and how NFTs can be used to fund projects supporting charitable causes. Celebrities, from A-listers like Matt Damon, Reese Witherspoon, and Gwyneth Paltrow to Z-list Bachelor influencers, evangelize cryptocurrency as an almost philanthropic cause; what goes unspoken is that they stand to profit from more people investing after them.

Yet in practice, buying and selling crypto often amounts to a whisper network of people already in the know advising each other in private group chats what to buy and when. To an outsider, it can look like a perfectly legal form of insider trading, entirely shielded from any sort of oversight. The wealth gap among holders of bitcoin is 100 times worse than the US economy: the top 0.01 percent control 27 percent of the 19 million bitcoin currently in circulation.

For people whove long been interested in investing, the phenomenon has been somewhat bizarre to witness. I give advice to friends who want to get into investing and tell them to put some into exchange-traded funds or index funds, says Omar Khan, a 29-year-old who works in fintech and has been investing in the stock market since he was a freshman in high school. Then all of a sudden these people are like, No, thats too complicated, and they want to get into SPACs. Im like, hold up you went from being too cautious to invest in an S&P 500 ETF to SPACs, which are an absolute scam? (SPACs are a way to list private companies on the stock market, thereby allowing everyday traders to invest in them; many have criticized them as a bubble similar to the dot-com boom.)

Omar says his friends often cite supposedly heartwarming articles about people who put in a few hundred bucks in meme stocks, NFTs, or crypto and became millionaires. Its irresponsible journalism, he argues, because it so often ignores the many people who lose even more than they put in. In my group chats with finance friends, were like, So many people are gonna lose so much money. Were watching a train crash. Its worth wondering, he says, whether the low barrier of entry into this world is such a net positive. Theres no phone call [to a broker] that you would have had to make 20 years ago. Theres no warning sign of like, hey, are you sure you want to put $50,000 in this penny stock?

A year ago, Kevin, who asked me to use a pseudonym to protect his privacy, put $50 into a FanDuel account, which he then gambled into $750 before losing it all in an online roulette game. Its a sickening feeling losing that money, but I always come back thinking it will be different, he told me over Twitter DM. The 26-year-old auto parts specialist in Erie, Pennsylvania, says he realized he had a gambling problem after repeatedly losing after a long winning streak, and then trying to win it all back. Thankfully, I realized I had a problem before I lost something I couldnt [get back], like my car or apartment, he says. I just want people to know how dangerous it is before you go in unprepared.

Pretty much every new investor or gambler I spoke to for this story said that for the majority of their lives theyd been relatively risk-averse. Many hadnt grown up with much money to begin with, which instilled in them a desire to save and invest responsibly in stable portfolios like 401ks, Roth IRAs, or index funds. But because of how easy it is now to gamble in sports, the stock market, or crypto, their approach had changed. While most have been careful not to bet more than they can afford to lose, the wave of sports betting legalizations across the states has watchdog organizations concerned: About 2 percent of Americans struggle with gambling addiction, some of whom end up losing jobs, families, their homes, even their lives.

Other new sports bettors have found real community and joy from the hobby. Multiple people (particularly men) I interviewed said that they now texted regularly with old friends from high school or college about their bets, and that it made talking to new people in social situations easier. When someone says they have some money on the Australian Open, youre like, Oh, you gamble on sports too! And then you can have a little conversation about it, says Dan Greene, a 33-year-old journalist.

For Madi, a 23-year-old in Minnesota (she preferred to not use her last name because sports betting still isnt technically legal in her state), sports betting is more than just a conversation starter. As a queer woman, she says shes almost never taken seriously as a longtime college and pro football fan, and for her, sports betting is proof that she actually knows what shes talking about. In a lot of social spaces, people tend to assume I dont know much about sports, she says. Theres so much baggage that comes with being a female sports fan and a lesbian sports fan. So it feels really validating when I get things right.

Richard Johnson, a 28-year-old who covers college football at Sports Illustrated, said that his interest in crypto was the product of a lifetime of learning to save. As a Black person, this wealth was never accessible to us until, like, 50 years ago, he says. Our generation is not going to have Social Security or pensions. Were not even going to fucking retire. The only way to get to the American Dream is to invest.

A vocal backlash to the nascent concept of Web3, or a vision of the internet that runs on the blockchain and crypto, has cemented itself within the culture. Skeptics argue that the whole thing is killing the environment and is also a Ponzi scheme, which, jurys still out! Whats significant, though, is how often the backlash comes from inside the house.

Despite turning a five-figure profit in just the span of a few weeks, Jeff still wonders whether its even worth it to continue investing in NFTs. He now keeps constant tabs on the rising and falling value of ethereum, newly released projects, and Discord announcements. Im not sleeping well because Im so wired all the time, he says.

More than that, though, hes become disillusioned by the lofty promises of the true believers. The more they explain it, the more I get queasy about it, he says. I thought that as I went on Id learn about it and be like, Okay, this makes sense. I understand why theres value in this, and every day I am renewed with the sense that this is the stupidest fucking thing on the planet.

Jeff, like most skeptics for whom the system has actually worked pretty well, is eager to cash out once the price of ethereum goes back up. But talking to him, and to the rest of the (almost entirely) men whove turned money into a hobby, made me more than anything feel like I was too late to something that hadnt even really happened yet. Because of course it isnt too late to become an overnight crypto millionaire or to cash out on an incredibly lucky bet; its just highly unlikely that that person will be you. Nobody wants to be a cynical spoilsport, stewing in resentment of these men who have won and will probably keep winning, who look a lot like the ones who have always won: the men who have the time, the knowledge, the energy, and, most importantly, the money to turn having money into its own hobby.

You cant hate the players, of course. I asked Jeff if hed made any money in the 20 or so minutes that wed been talking. Not really, he said. Around $200.

This column was first published in The Goods newsletter. Sign up here so you dont miss the next one, plus get newsletter exclusives.

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Crypto, NFTs, and sports betting: Money is now a hobby - Vox.com

Beginners and experienced bettors have all had to start somewhere in the sports betting space. While some are more advanced than others, there are a lot of concepts and topics that need to be understood in order to have the best possible chance of winning money and being successful.

Our Sports Betting 101 series from Josh Appelbaum is a good starting point for new bettors and a good refresher for those that have been around, but may need to brush up on the basics.

Before diving into the content, there are some initial topics and betting terms that everybody should use as a prerequisite before taking the Sports Betting 101 "class".

Sports Betting for Beginners - Learn the Basics of Sports Betting

Sports Betting Terms Everybody Needs to Know

Read along as Josh, author of The Everything Guide to Sports Betting: From Pro Football to College Basketball, Systems and Strategies for Winning Money, gives you a crash course into the world of sports betting.

How to Place a Bet

You can't place a bet without knowing how. In this article, Josh talks about how to place your wagers online or in-person at the sportsbook.

Sportsbooks, Oddsmakers and Setting the Line

On this topic, Josh looks at where you can bet on sports and how oddsmakers set the lines for the games. He also talks about betting limits and the function they serve.

Favorites, Underdogs and the Point Spread

On this topic, Josh examines the function of the point spread and why one team is considered the favorite and why the other team is considered the underdog.

Totals (Over/Unders) for Full Game, 1st Half and 2nd Half

On this topic, Josh discussesthe "total" or "over/under", which is a measure of the combined scores of both teams.

Moneyline Betting

On this topic, Josh discusses moneyline betting, which means simply picking a winner, but that could come with a higher cost or more risk.

Parlays and Teasers

Parlays and teasers continue to grow in popularity. Does Josh believe that these are smart wagers?

The House Edge - "Vig" or "Juice"

Here, Josh discusses what is called the vigorish on a betting line. Think the -110 that appears next to a point spread or total. What does it do and what does it mean for the bettors and the books?

Bankroll Management and Long-Term Success

Sports betting is a long-term thing and not a get-rich-quick scheme. Josh emphasizes that notion here, along with some tips for how to manage your bankroll.

Flat Betting

Flat betting is a popular bankroll management technique for new bettors. Josh talks about the reasons why and how to make use of it with your daily wagers.

Bet To Risk vs. Bet To Win

A popular question is whether or not a bettor should bet "to risk" or bet "to win". Josh explains both and his preferred method.

What Is A Middle?

The concept of middling (and also arbitrage) are ways in which a bettor can maximize a strong opportunity to make money.

The Do's and Don'ts of Playing Middles

Middling can be a tricky concept for a lot of bettors, so here is some advice on what to do and what not to do.

Betting Advice - Who To Trust and Who To Avoid

In this piece, Josh discusses why some people's opinions on betting should be considered more than others.

What Are Sharp Bettors?

What makes a bettor "sharp"? Who are these people and what impact do they have on the betting market?

How to Bet Like a Sharp

You, too, can follow the same practices as sharp bettors if you know what to look for.

What Is Closing Line Value (CLV)?

The best indicator of future success is getting CLV on your bets. What is it and how do you do it?

What is Line Shopping?

One of the biggest advantages bettors have over sportsbooks is the ability to look for the best line. Advice on how to do that and why it matters.

Should I Buy Picks?

Professional pick sellers (also called touts) offer special packages and promotions, but are their picks worth buying?

Using Trends and Betting Systems

Here, Josh, an expert at utilizing trends and betting systems, talks about why this strategy helps to avoid recency bias, which is the act of putting too much emphasis on recent results.

The Dangers of Confirmation Bias and Gambler's Fallacy

In this piece, Josh cautions readers about the risks of only absorbing information that fits your opinion, as well as the "due factor" of the Gambler's Fallacy.

The Dangers of Gambling Addiction

When do you know that you have lost control and when should you seek help?

Handy how-to guides for betting on different sports.

How to Bet Football Totals

This article is all about betting over/unders in the NFL and college football.

What are Key Numbers in the NFL?

Key numbers are very important when betting spreads and Josh has some advice on how to make the most out of those opportunities.

How to Bet on NFL or College Football Season Win Totals

Season win totals are popular futures and prop bets that can be very profitable if you know what you are doing.

How to Bet on College Football Bowl Games

When the bowl season rolls around, you'll be prepared with this guide on betting those college football games.

How to Bet on NBA

The NBA is a tough league with so many scheduling spots and player absences, but Josh has some tips.

How to Bet on College Basketball

Some helpful tips for betting on college basketball.

How to Bet on March Madness

Betting tips for March Madness and the NCAA Tournament.

How to Bet on NHL

Tips for hockey bettors.

How to Bet on Horse Racing

Interested in playing the ponies? We've got some advice on how to do that.

How to Bet on Golf

Tips for wagering on the PGA Tour, DP World Tour and other golf events around the world.

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Sports Betting 101: Topics, tips and advice to be a better bettor - VSiN

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Bet $10 on the Big Game this Sunday and get $200 in free bets from BetMGM - Yahoo Sports

A key recommendation of a 2018 independent review into sport integrity and online betting is set to be watered down after pushback from the gambling industry.

The Wood Review of Australia's Sport Integrity Arrangements called for a "real-time wagering fraud detection and response capability".

But a recent Regulatory Impact Statement into the proposed Australian Sports Wagering Scheme (ASWS) flagged the government was consideringa non-real-time data platform.

The platform is designed so betting companies, sporting bodies and federal investigators can share information about bettors, for example allowing suspicious accounts to be matched across providers.

Betting companies haveindicated anyscheme would place a significant burden on their operations, and backed a non-real-time scheme.

It Is just one part of the pushback against the ASWS, the centrepiece of the 2018 Wood review.

The gambling industry says it supports the concept of an ASWS but is unconvinced by the governments current argument for increased regulation.

James Duncan, general manager of external affairs at Responsible Wagering Australia which counts the majority of sports betting companies in Australia as members said the country already had strong integrity systems and the main problem was with overseas providers.

"We need to carefully consider whether Australias time and resources are best spent addressing this major threat or trying to re-regulate an already highly regulated system which is functioning well, he said.

The ASWSis being overseen by Sport Integrity Australia, and almost $2 million was committed to its development in last year's budget.

At the time, Sport Minister Richard Colbeck said the scheme would "bring together regulatory approaches across Commonwealth, state and territories jurisdictions to ensure there is a framework to protect the integrity of sport, and make Australian sporting competitions more resistant to ever-evolving manipulation tactics".

A proposal has been developed in the intervening period, and plans have been shared with betting companies.

But one month shy ofthe fourth anniversary of the Wood review's completion, there is no indication yet when the schemewill be delivered.

A spokesperson for Mr Colbeck said consultation was ongoing and no implementation date hadbeen confirmed.

"It is important we provide sufficient time for stakeholder involvement in the design of the ASWS operating principles," they said.

Under Australia's patchwork of sports betting regulation, a bet on the AFL made by someone in Perth, for example, is likely to be governed by laws in four different jurisdictions.

In Western Australia, a point-of-consumption tax is applied that raises revenue for the state government.

An AFL market or "contingency"say, placing a bet on the winner of a match or the season's top goal kicker can only be offered if the betting company has a deal with the AFL, which is governed by law in Victoria, where the governing body has its headquarters.

Online sports betting is banned at the federal level by the Interactive Gambling Act unless the company is licensed by a state or territory.

Finally, the company's licence is likely to be provided by the Northern Territory government, which has been the jurisdiction of preference for most operators.

This layered regulation makes the task of reformchallenging. The discussion paper for the ASWS in 2020 conceded online in-play wagering, criminalisation of match-fixing, offshore wagering and horseracing had "clear interdependencies with the ASWS" but were deemed outside the scope of the new scheme.

That fact has been picked up by Responsible Wagering Australia, which argues for a more comprehensive and likely longer process of reform.

Separately, plans for a new betting act in the Northern Territory,where the bulk of Australia's online providers are licensed,have been on ice for two years.

A 2018 reviewfound a need for new legislation, and consultation with the industry was undertaken in 2020. However, there has been little evidence of progress since.

"Work has commenced on the drafting instructions which will be provided to industry as part of the consultation process," an NT government spokesperson said.

While the sports betting sector is relatively small next to pokies and betting on horseracing, it is a major source of revenue for governments.

In recent years the introduction of a point-of-consumption tax has allowed state governments to raise money from bets placed online by people within their jurisdictions.New South Wales expectsto earn more than $100 million per year from the tax.

And betting companies are also contributors to political parties.

Sportsbet spent approximately $170,000 on membership fees for Labor and Liberal business forums last year, according to Australian Electoral Commission records.

But the relationship is not just about money. Governmentwants to work with professional, accountable local betting companies to uphold consumer protections and minimise gambling harm.

A reportreleased in October by Gambling Research Australia included a survey of about 3,000 interactive gamblers. It found close to half had betted using offshore sites, and problem gambling wasover three times higher for those using overseas sites compared to thoseonshore.

RWA's James Duncan believes the current menu of reform is missing the point.

We know that the single greatest betting threat to sport integrity comes from illegal offshore operators," he said.

The federal government's Regulatory Impact Statement for the ASWS states the next step in reform is the development of a new policy proposal. Four additional steps are required before it becomes operational.

Do you know more? Contact Jack Snape in Darwin: jack.snape@abc.net.au.

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Real-time monitoring of sports betting to prevent match fixing looks set to be abandoned amid industry pushback - ABC News

ST. PAUL Whether it's gambling, booze or pot, proposals to relax the states laws on certain vices have renewed steam this legislative session, particularly with a push to legalize betting on sports in the state.

The chances of Minnesota legalizing sports betting appear better than ever this year, with key Democratic-Farmer-Labor and Republican lawmakers in the House and Senate expressing interest in getting a bill sent to the governor this session.

House Commerce Committee Chair Rep. Zack Stephenson, DFL-Coon Rapids, took the lead on the issue in the House, offering a sign to Republican backers that they now have an ally in the DFL-controlled chamber of the Legislature. Stephenson is also hoping to push for a major liquor law overhaul that would allow smaller brewers to sell directly from their taprooms.

Screengrab via Minnesota House of Representatives Public Information Services

Chair Zack Stephenson is going to be kind of 'all sin all the time' in 2022. He's working on sports betting and liquor laws, trying to find the grand compromise that will move Minnesota law forward on both of them, House Speaker Melissa Hortman told Forum News Service. And they both have been very tough places to find compromise. So I think there's an appetite.

Meanwhile, Republican leaders in the Senate don't appear to have changed their mind on legalizing recreational pot, but Gov. Tim Walz is now pushing for the issue along with Democrats in the Legislature.

Here's where the issues stand as of Wednesday, Feb. 8, the second week of the session.

Stephenson as of Feb. 8 had not introduced a House version of the sports betting bill, but in early 2021, Senate Assistant Majority Leader Roger Chamberlain, R-Lino Lakes, introduced a bill of his own that remains in play. His proposal calls for the legalization of sports betting at tribal casinos, electronically and at the Running Aces and Canterbury Park race tracks in the Twin Cities metropolitan area. Chamberlain introduced similar legislation in 2019.

Don Davis / Forum News Service

Many states across the U.S. legalized sports betting in some form after a 2018 Supreme Court decision throwing out a decades-old federal law forbidding the practice. All of Minnesota's neighbors are legal sports-betting states, Stephenson said, and for the past three years lawmakers have tried without success to legalize the practice in Minnesota as well.

The Minnesota Indian Gaming Association (MIGA), which represents tribes involved in the gaming industry, has opposed the legalization of sports betting in the past but hinted that it may be willing to discuss the issue.

"The tribal governments making up MIGA have been examining the various ways sports betting has been implemented across the country and its impacts on tribal communities," association executive director Andy Platto said in a November statement." As gaming experts, tribes stand ready to share this expertise with lawmakers considering the future of sports betting in Minnesota."

While Stephenson said he had hoped to have a bill ready by the beginning of the session, he said the parties are getting closer to an agreement.

My goal is to have a bill that has broad stakeholder support and Im not going to put something in until I feel like Im there, he told Forum News Service. Im going to wait until I have something I feel really good about and that day is getting closer but its not today.

Rep. Pat Garofalo, a Farmington Republican also pushing for legal sports betting said lawmakers have had productive conversations but so far have not arrived at anything concrete. Chamberlain said he was "working with stakeholders and interested parties to get a bill passed this session."

Meanwhile, South Dakota lawmakers are weighing a constitutional amendment on the ballot to allow mobile sports betting statewide. The states Senate this week passed the resolution along to the house.

In fall 2021, Stephenson said he wanted to see a significant liquor bill pass in the upcoming session, with particular emphasis on craft breweries. In October he held a marathon meeting of the House Commerce Committee to hear nearly 30 different alcohol-related proposals from both parties in an effort to zero in on priorities.

Those bills include a proposal introduced by Rep. Dan Wolgamott, DFL-St. Cloud, to lift growler sale restrictions in the state, something that has frustrated the states biggest breweries for years. Other proposals include allowing gas stations and grocery stores to sell wine and beer, and permitting distilleries of any size to operate a cocktail room.

Stephenson said the House DFL Caucus biggest priority, however, is lifting sales restrictions faced by small breweries scattered across Minnesota.

I would like to see the growler issue resolved, but that is an issue that affects five or six of the largest breweries in the state. We want to help the 150 smallest brewers in the state, we dont want them left out, he said. You have the challenge of building a customer base thats interested in your product, youre not in every liquor store around the state so having more flexibility to sell directly to the people out of your taproom is really important.

The Minnesota Craft Brewers Guild and Minnesota Hospitality back lifting the growler sale cap and permanently allowing to-go sales, but legislation faces opposition from liquor store owners and beer distributors.

Stephenson said lawmakers and stakeholders continue to discuss priorities and while conversations have been productive they have not yet arrived at anything concrete.

A bill to legalize recreational marijuana passed in the Minnesota House for the first time ever last year, but continues to face strong opposition in the Republican-controlled senate. Barring Senate Republican leadership reversing its position, it's highly unlikely any bill will see movement in that chamber this session.

However, the cause of legal recreational pot did gain another boost this year. Gov. Walz in January called for the legalization of adult-use marijuana as part of his public safety and health budget proposal for the 2022 session. His administration called for taxes and regulations on marijuana and expungement of all nonviolent offenses involving the substance similar to the House bill.

Walz in the past said he would sign legislation legalizing recreational marijuana use but this year marks the first time he supported the issue directly in his budget recommendations.

House Majority leader Ryan Winkler, DFL-Golden Valley, introduced the recreational marijuana legalization bill that passed in the House in 2021. Speaker Hortman said the bill remained in play in the second year of the legislative biennium, but Republican Senate Majority Leader Jeremy Miller said he did not support the proposal.

A statewide coalition of groups including the Insurance Federation of Minnesota, the Minnesota Catholic Conference as well as the state trucking and police associations formed a group called Minnesotans Against Marijuana Legalization, days before Walzs announcement.

Follow Alex Derosier on Twitter @xanderosier or email aderosier@forumcomm.com. Forum News Service's Dana Ferguson contributed to this report.

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Minnesota Legislature working through gambling, growlers and recreational pot - West Central Tribune

SportGames TV CEO, Vladislav Artemyev, speaks to SBC Americas about his firms entrance into the US market and what SportGames TV has to offer the region.

SBC: For those of our readers less familiar with SportGames TV, can you tell us a bit more about the company?

Vladislav Artemyev: SportGames TV brings to the sports betting sector what live casino brings to the online casino sector. We have taken the same blueprint used by live casinos studio, presenters/players, camera, microphone, streaming footage, etc and re-worked it for sports betting.

Our suite of games offers 24/7 live sports betting action on a growing number of sports including darts, boxing, ice hockey, and even slot car racing. The sports games take place within the studio and are condensed into short rounds to deliver a fast and satisfying user experience.

For example, a boxing round takes just one minute while for other games it takes 30 seconds from bet placement to outcome. This provides the same rapid action as casino games like live roulette.

SBC: Whats the unique selling point that separates you from your direct competition?

Artemyev: We are currently the only provider in the market offering live sports games like this. But why would operators want to launch our games? First, given the competitive nature of the market, live sports games are a major differentiator. They provide punters with new betting opportunities through a product that is far more engaging, interactive and entertaining than traditional sports betting.

Not only that, but games are available 24 hours a day, seven days a week. This is significant as round-the-clock betting action cannot be offered with standard sports betting. I know this is available through virtual sports, but they are ultimately RNG games and simply dont deliver the thrill of live-action betting that the vast majority of punters are seeking.

The operators that have already integrated our games into their sportsbooks are reporting very strong early numbers. On average they are recording 100 bets per player per month with an average turnover of 335 per player per month. The average margin is 7.6%.

SBC: What is the driving force behind a move into the US market? Can you describe what the process was like?

Artemyev: We all know that the US will become one of, if not the, largest online sports betting markets in the world so we, like others, want to be active in the region. We also believe that our product will allow operators to not only meet but exceed player expectations across all legal online gambling states. This is because it is highly customizable and can be localized not just on a country basis but down to individual states. This is because operators can launch sports that are popular in that state and, as with live casinos, the opportunities around branding are endless.

In terms of the process, it has been much the same as for other suppliers in that we have had to secure licenses in the states that we are targeting. We have opted for New Jersey first followed by Colorado.

SBC: How will you approach the US market given that regulation is applied on a state-by-state basis? What states are you targeting?

Artemyev: As mentioned, we will be making our debut in New Jersey followed by Colorado. We are particularly interested in states where only sports betting is legal as there will be no other live games in the market which gives us a major competitive edge. Ultimately, we plan to be in as many US states as possible as we believe North America has the potential to be one of the largest online gambling markets in the world, if not the biggest.

SBC: What products do you intend to launch first in the US?

Artemyev: We will be launching with our full suite of products in the US market which currently covers ice hockey, darts, bridge, boxing, and slot car racing. Of course, we plan to add many more sports over the coming months and years and in particular sports that are popular in the US market American football, basketball, soccer, and so on.

We are also keen to work with operators around creating branded live sports betting games we have a lot in the pipeline and look forward to bringing even more innovative sports betting content to the US market and beyond.

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SportGames TV: Bringing a live casino offering to the sports betting industry - SBC Americas

7 February 2022

Entain plc(Entain or the Group)

Acquisition of Avid Gaming including leading Canadian online sports betting and gaming brand Sports Interaction

Entain plc (LSE: ENT), the leading global sports betting, gaming and interactive entertainment operator (Entain or the Group), announces today that it has acquired Deis Ltd (Avid Gaming or the Company) for CAD300 million (approximately 174m1) from Middlebrook Investments Limited.

Avid Gaming owns Sports Interaction, Canadas leading online sports betting brand. It is headquartered in Jersey (Channel Islands), with offices in the Mohawk Territory of Kahnaw:ke and Ireland.

Avid Gaming exclusively licenses the Sports Interaction trademark and provides proprietary online betting and gaming products and services to the Mohawk Council of Kahnaw:ke (MCK) and the Mohawk Online socioeconomic initiative. Mohawk Online, which is wholly-owned by the MCK, operates Sports Interaction in Canada.

Canada is a highly attractive and fast-growing sports betting and gaming market. Together with Entains application for an Ontario licence, this acquisition provides an excellent opportunity to drive further growth, in line with the Groups growth and sustainability strategy.

Sports Interactions sports-led offering is highly complementary to Entains existing Canadian business, comprising the Party and bwin brands. The combination will bring Entains global scale, expertise and market-leading platform together with Sports Interactions local expertise, capabilities and partnerships. As a result the combined business will provide customers with a broader offering of engaging products and services for the Canadian market. Will Golby, Avid Gamings CEO, along with other members of the leadership team, will transition to Entain.

The Group is delighted to continue supporting the socioeconomic efforts of the Mohawks of Kahnaw:ke through Sports Interactions unique exclusive relationship with Mohawk Online. In line with economic principles adopted by Canada under the United Nations Declaration on the Rights of Indigenous Peoples, Mohawk Online revenues are invested back into the community of Kahnaw:ke to provide essential funding for cultural and language programmes, schools, healthcare and other public services. 50% of Avid Gaming employees in Kahnaw:ke are Mohawk, and in 2020 Mohawk Online revenues played a vital role in Kahnaw:kes Covid 19 relief efforts.

Sports Interaction has experienced rapid growth in recent years with gross revenues in 2021 increasing by c40% year on year to CAD76million (approximately 44m1). The business generated EBITDA of CAD18m (approximately 10.4m1) and profits before tax of CAD17.4 million (approximately 10.1m1) in the year ended 31 December 2021 (after the contribution to the community of Kahnaw:ke). As at 30 September 2021, it had gross assets of approximately CAD41.0 million (approximately 23.7m1).

The combination is expected to deliver approximately CAD15 million (approximately 8.7m1) of synergies in 2023, predominantly from technology, content and procurement benefits. This results in a post synergies acquisition multiple for Entain of approximately 7x 2023 EBITDA. The consideration for the acquisition has been paid from existing facilities.

Jette Nygaard-Andersen, CEO of Entain plc, comments:

Sports Interaction is the leading Canadian sports betting and gaming brand and is aligned perfectly with our own ambitions of great customer service and ambitious growth, coupled with an unwavering commitment to sustainability. It is highly complementary to our existing operations in Canada, and the combination of its local expertise and Entains powerful platform will provide customers with an unrivalled range of exciting and engaging products in this fast-growing market. We look forward to welcoming Will Golby and his team to Entain.

Investing in the communities where we operate is a key pillar of Entains sustainability strategy. We are therefore delighted to be supporting the Mohawk Online socio-economic initiative.

Will Golby, CEO of Avid Gaming, comments:

We are delighted to be joining forces with Entain, which is an exceptional company combining world-class brands, strong leadership and a winning strategy. It has a unique approach to local markets, and no other company of its scale consistently delivers so many well-executed, localised approaches to the same level of customisation and detail. Entains commitment to sustainability, responsible gaming and community investment aligns exactly with our own business philosophy, and we look forward to a bright future together.

Kahsennenhawe Sky-Deer, Grand Chief of Mohawk Council of Kahnaw:ke, comments:

Entain is a world class operator with a genuine desire to positively contribute to the communities in which it operates. Kahnaw:ke is well known in the gaming industry, not only for our internationally recognized jurisdiction through the Kahnaw:ke Gaming Commission, but also for our socio-economic initiative, Mohawk Online. This new partnership between Entain and the Mohawks of Kahnaw:ke is mutually beneficial, and brings with it prime opportunity for bolstering our self-sufficiency through the continuing success of Sports Interaction.

Note: (1) CAD / GBP FX rate of 0.5788 as of 4 February 2022

Enquiries:

LEI: 213800GNI3K45LQR8L28

About EntainEntain plc (LSE: ENT) is a FTSE100 company and is one of the worlds largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, Ninja Casino, Optibet, partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.

The Group has a joint-venture with MGM Resorts International creating a leader, BetMGM, in sports-betting and iGaming in the US. Entain provides the technology which powers BetMGM and exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK with licenses in a total of 27 regulated markets. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects.

For more information see the Groups website: http://www.entaingroup.com

The person responsible for arranging for the release of this announcement on behalf of the Company is Emily Carey (Company Secretary).

About Avid GamingAvid Gaming is headquartered in Jersey with offices in Kahnaw:ke (MCK) and Ireland. The company is the exclusive supplier of the Sports Interaction trademark and gaming products and services to Mohawk Online, a socioeconomic initiative wholly-owned and governed by the Mohawk Council of Kahnaw:ke (MCK).

Avid Gaming retained Partis as advisor for the transaction.

Important noticesCertain statements in this announcement are forward-looking statements with respect to the Companys expectations, intentions and projections regarding its future performance, strategic initiatives, anticipated events or trends and other matters that are not historical facts and which are, by their nature, inherently predictive, speculative and involve risks and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. All statements that address expectations or projections about the future, including statements about operating performance, strategic initiatives, objectives, market position, industry trends, general economic conditions, expected expenditures, expected cost savings and financial results are forwardlooking statements. Any statements contained in this announcement that are not statements of historical fact are, or may be deemed to be, forwardlooking statements. These forward-looking statements, which may use words such as aim, anticipate, believe, could, intend, estimate, expect, may, plan, project or words or terms of similar meaning or the negative thereof, are not guarantees of future performance and are subject to known and unknown risks and uncertainties. There are a number of factors including, but not limited to, commercial, operational, economic and financial factors, that could cause actual results, financial condition, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Companys ability to control or estimate precisely, such as changes in taxation or fiscal policy, future market conditions, currency fluctuations, the behaviour of other market participants, the actions of governments or governmental regulators, or other risk factors, such as changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including inflation, recession and consumer confidence, on a global, regional or national basis. Given those risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of this announcement. The Company and its affiliates, and any of its or their respective directors, officers, partners, employees, advisers or agents (collectively, Representatives) expressly disclaims any obligation or undertaking to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by applicable law or regulation.

In particular, no statement in this announcement is intended to be a profit forecast or profit estimate and no statement of a financial metric (including estimates of EBITDA, profit before tax, free cash flow or net debt) should be interpreted to mean that any financial metric for the current or future financial years would necessarily match or exceed the historical published position of the Company and its subsidiaries. Certain statements in this announcement may contain estimates. The estimates set out in this announcement have been prepared based on numerous assumptions and forecasts, some of which are outside of the Companys influence and/or control, and is therefore inherently uncertain and there can be no guarantee or assurance that it will be correct. The estimates have not been audited, reviewed, verified or subject to any procedures by the Companys auditors. Undue reliance should not be placed on them and there can be no guarantee or assurance that they will be correct.

This announcement is being issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by or on behalf of the Company (apart from the responsibilities or liabilities that may be imposed by the Financial Services and Markets Act 2000, as amended or the regulatory regime established thereunder) or by its affiliates or any of its Representatives as to, or in relation to, the accuracy, adequacy, fairness or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers or any other statement made or purported to be made by or on behalf of the Company or any of its affiliates or any of its Representatives in connection with the Company and any responsibility and liability whether arising in tort, contract or otherwise therefore is expressly disclaimed.

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Acquisition of Avid Gaming including leading Canadian online sports betting and gaming brand Sports Interaction - Entain

Good afternoon everyone, it's Chris Bengel here. Welcome to one of the most fun weeks of sports betting on the entire calendar. The last six months of NFL action come down to just one more game on Sunday before the offseason truly begins

Caesars Sportsbook and others make it fun for fans to get involved in just about any angle of the action during the Super Bowl. You can bet on everything from the length of the national anthem to the color of Gatorade that the winning coach will have poured on him. Oh, yeah, you can also bet on the game itself.

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Speaking of the game itself, this one is definitely tough to get a barometer on. As of this writing, the Los Angeles Rams are 4.5-point favorites -- and deservedly so. However, if there's one thing that the betting public has learned throughout this postseason, it's that you should never count out Joe Burrow and the Cincinnati Bengals. I'm still debating, but I'm leaning more towards the Bengals side and may even like them to pull off the upset.

Before we get to the "Big Game," we've got some action on the hardwood and the ice that I love tonight. Let's dive into the picks!

All times Eastern, and all odds via Caesars Sportsbook

Rockets at Pelicans, 8 p.m.| TV: NBA.TV

The Pick: Under 225.0 points (-110): While the Super Bowl has most people talking, bettors can't forget about the NBA trade deadline and its significance over the next three days. On Tuesday, the Pelicans made a trade to acquire star guard CJ McCollum from the Trail Blazers.

To make that move a reality, the Pelicans had to part with guards Josh Hart and Nickeil Alexander-Walker. With these talented guards switching teams, that will leaves the Pelicans without two of their top five leading scorers and they won't have the services of McCollum until later this week. Since the Pelicans will be shorthanded, I love the under in this spot.

Throughout the 2021-22 season, the Pelicans are averaging 105.8 points-per-game, which is good for 26th in the league. In addition, the under is 6-2 in the Pelicans' last eight home games against a team with a road winning percentage less than .400. With a 15-38 record, the Rockets have the worst mark in the Western Conference and the third-worst across the NBA. The Rockets also average just 108.3 points-per-game (No. 18 in the league) and sure the Pelicans should score their fair share of points. However, with New Orleans being without two previous members of their backcourt, I don't see these teams hitting this fairly large total.

Key Trend: The under is 5-0-1 in the Pelicans' last six games

Clippers at Grizzlies, 8 p.m.| TV: NBA.TV

Latest Odds: Los Angeles Clippers +8

The Pick: Clippers +8.0 (-110):-- This may not seem like the greatest spot to side with the Clippers after getting manhandled by the Bucks on Sunday. However, the Clippers have had a mentality of bouncing back after big losses as of late. The Clippers are 5-0 ATS over their last five games after allowing over 125 points in their previous game. On Sunday, the Clippers yielded a staggering 137 points to the Bucks and ended up falling, 137-113.

The Grizzlies are one of the more prolific offenses in the NBA as they average 112.7 points-per-game (No. 5 in the NBA). However, the Clippers are also one of the better defensive units as they surrender just 107.4 points per contest. The Clippers also hold their opponents to a 33.5 percent shooting clip from three, which is the third-best mark in the league. Certainly, it hasn't been an easy road without Kawhi Leonard and now Paul George in the lineup this season, but the Clippers are a resilient group that I feel confident will bounce back in this spot.

Key Trend: The Clippers are 4-0 ATS in their last four games as a road underdog

Penguins at Bruins, 7 p.m. I TV: ESPN+

Latest Odds: Pittsburgh Penguins +115

The Pick: Penguins (+110) -- The Penguins return from the All-Star break in the midst of one of their biggest slumps of the 2021-22 season. This is a group that lost four consecutive games prior to the All-Star break, including three of those losses coming in overtime or shootout. Still, I like the Penguins to bounce back in this spot.

Even in the midst of their four-game losing streak, the Penguins are still 7-2 over their last nine games against Eastern Conference foes. The Penguins do possess one of the most dangerous offenses around as they average 3.3 goals-per-game -- good for eighth in the NHL.

Now, it's worth noting that Pittsburgh will be without star forward Evgeni Malkin, who was placed in COVID-19 protocol on Monday. While it's not great to be without Malkin, the star center did miss the first first three months of the season due to offseason knee surgery. They've been without Malkin before and excelled, so I expect the Penguins to be able to pull off the win as the road underdog in this spot. It also doesn't hurt that the Penguins are facing a Bruins team that has dropped four of their last six games.

Key Trend: The Penguins are 9-2 in their last 11 road games

See more here:

The CJ McCollum trade will have a huge impact on Rockets vs. Pelicans, plus other best bets for Tuesday - CBS Sports