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Category Archives: Sports Betting

How to place a sports bet – The Athletic

Posted: January 28, 2022 at 12:00 am

There are a lot of rules and terms to learn regarding sports betting before you can dip your toe in the water. Once you get a grasp on what it is youre betting on, the next step is learning how to place an actual bet.

For the most part, this is an easy process, but there are some key things to know before placing a bet. For starters, there are two common ways to place a sports bet. One is in-person at a sportsbook. That requires going up to a window with a physical ticket written out to place a bet. The more modern way, which has become much more recently, is betting online through a website or app. The process is very different between the two.

Sportsbooks can be intimidating places to new bettors. There are tons of screens with games on, usually a board with dozens of games and the lines and odds associated with them. Its a lot to take in.

If you go up to place a bet and just say I want the Panthers -6.5 the teller can look up the bet, but they might be a bit annoyed. Between Carolina (NFL), Florida (NHL) and a number of different college teams with the same name, theyd have a right to be. Bet sheets, actual pieces of paper with bets listed on them, in the sportsbook will have the number associated with the bet. Its easier and faster to come prepared with the bet number when you get to the window. Saying I want the Panthers against the spread, which is bet number 1234, for $100, will make the process go faster and help ensure you place the right bet.

Its important to know that bet sheets arent always updated throughout the day. They are only updated once per day in many cases. The number associated with the bet wont change, but the line may change. Make sure to read the board to see the latest line before turning in a ticket.

Betting in-person provides the full sportsbook experience: crowds of people yelling at games on big screens because they have money on the line. It can be a fun party atmosphere.

There arent as many options for betting though. With the exception of big events, live betting isnt always available and there is certainly less live betting than betting online. Its harder to find alternate lines and prop bets, for example.

Sportsbooks are cash economies. Bets must be placed with cash. The upside of that is its possible to get cash right away on a winning bet. Once the event has finished and the bet is settled, return to the betting window with a winning ticket and get cash in your hand.

Online betting is growing every year and is a very easy way to place bets. They all have apps and there are multiple to choose from if its legal where you live. Its as simple as clicking or tapping on the desired bet, placing the wager amount and confirming the bet. For parlays, simply choose multiple bets and make sure parlay is selected on the confirmation screen. With so many options its very easy to pick the wrong one so double-checking is a must.

Most online sportsbooks also typically have some form of rewards or loyalty programs that give bonuses based on how much you bet. They also offer profit bonuses, which will give better odds on specific bets, or promotions depending on the sportsbook. These vary from place to place but can be used to the bettors advantage.

The obvious pro to betting online is that its possible to place a bet from the couch. In terms of how to place a bet, its much easier online. Theres also a bevy of options to choose from. Not only are the lines and odds updated in real-time, but there are so many more lines more easily viewable. From alternate lines to countless props and constantly updated live betting on almost every event, everything a sportsbook offers is there to be found.

Another benefit is seeing the potential payout on the confirmation screen. This isnt a big deal for single bets but is nice for parlays or teasers. You can see how swapping bets can change the payout and make a determination of exactly what you want.

Its also much easier to shop lines online. In order to shop lines in person, you have to actually go to a different sportsbook. Thats not an option in most places outside of Las Vegas and even there, who knows if that line will even still be available by the time you get there. Online, simply open a different website or app and compare the offerings.

The downside is the lack of liquidity. In order to bet online, you need to deposit money to create a balance as opposed to paying cash for bets each time. Winning bets are immediately automatically added to the balance, but it can be tedious to cash out and is a slower process.

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Second partner signs on for Hall of Fame Resort sports betting business – Canton Repository

Posted: at 12:00 am

CANTON An international sports betting company will be the official partner ofHall of Fame Resort & Entertainment Co. to provide online betting services.

Genesis Global Ltd., a mobile-first global gaming operator, has entered a 10-year agreement with Hall of Fame Resort to be the company's officialmobile sports-betting partner.

More: HOF Village partners with Rush Street Interactive for sports betting operation

New Partner: Hall of Fame Resort will partner with Genesis Global to offer mobile sports betting.

Sports betting is one of the business units for Hall of Fame Resort, which is developing the Hall of Fame Village powered by Johnson Controls. The village is under construction and will be a campus wrappedaround the Pro Football Hall of Fame and Tom Benson Hall of Fame Stadium.

The agreement, announced Thursday, has a sponsorship component that includes support of the Hall of Fantasy League, a fantasy football league created by Hall of Fame Resort. The partnersalso will have opportunities for cross-marketing, branding and direct contact with consumers.

Hall of Fame Resort now has two partners involved with sports betting in the Hall of Fame Village project.

In December, Hall of Fame Resort announced a partnership with Chicago-based Rush StreetInteractive to "operate a premier retail sportsbook" at theHall of Fame Villagecomplex. Plans are for Rush Street to use a space in the retail area being developed at the village.

The partnership with Rush Street was announced the day afterGov. Mike DeWine signed the state's new sports betting bill.

Genesis is based in Malta, an island nation in the Mediterranean Sea. According to Thursday's announcement, Genesis is "a rapidly growing, worldwide iGaming and sports-betting operator." The company generates 78% of its revenue from mobile sports betting, the release stated.

Ariel Reem, Genesis chief executive officer, said his company sees the partnership with Hall of Fame Village as an "exciting opportunity" that reflects its "approach to innovation, collaboration and commitment to growth in the U.S.

Michael Crawford, Hall of Fame Resort president and CEO, said the company is excited about the possibilities of legalized sports betting. The market is expected to grow by 40% to more than $39 billion by 2033.

Partnerships such as the one with Genesis help the company establish the infrastructure needed to benefit from the growth trend in sports betting, Crawford said.

Genesis operatesin several geographic areas and is expanding in the United States, according to the release. The hope is that Genesis will use its technology to provide a mobile sports-betting platform with easy and remote access to mobile iGaming, which refers to any online game tied to betting, gambling or casinos.

Development of Hall of Fame Village powered by Johnson Controls started with construction of Tom Benson Hall of Fame Stadium and youth athletic fields. Work stalled for several yearsbut picked up when Hall of Fame Resort formed in 2019.

As part of a $300 million second phase of construction, the Hall of Fame Resortbuilt the Constellation Center for Excellence andcompleted work at the stadium. It also bought and renovated the DoubleTree by Hilton hotel in downtown Canton.

Expansion of the sports playing fields and construction of a retail area called the Fan Engagement Zone is underway, while ground is being prepared for the Center of Performance.

The Fan Engagement Zone stretches north from the Constellation building toward the site for a future hotel and water park. Future tenants include a Don Shula's restaurant, a Helix Esports Center, which will be operated by Esports Entertainment Group, and a Topgolf Swing Suite that will be paired with craft brewery The Brew Kettle.

Construction of a Tapestry by Hilton hotel and water park are scheduled to begin later this year. The project is expected to be finished late in 2023.

A third constructionphase, also estimated at $300 million, has been discussed.

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Sports betting to arrive in Ohio – Cleveland Jewish News

Posted: at 12:00 am

On Dec. 22, 2021, Ohio Gov. Mike DeWine signed into law House Bill 29 legalizing sports betting in the state of Ohio. The new law legalizes and controls sports betting in Ohio through licensed gaming owners. The law also tasks the Ohio Casino Control Commission with regulating sports gaming online, at sports gaming facilities and at bars and restaurants.

However, the recent passage of the House Bill 29 doesnt mean Ohioans can immediately start placing sports bets at their local casinos or bars. Before sports betting can occur in Ohio, several more government measures must be implemented.

As previously stated, the Ohio Casino Control Commission is in charge of regulating sports betting. Regulating, however, also means creating the sport gambling rules and systems to effectuate the law. The Ohio Casino Control Commission is in the process of creating the rules, applications, forms, systems and other items necessary to implement the bills provisions.

Heres what we know so far based on the language of House Bill 29:

Type A: This category applies to online sports gaming including mobile apps. There will not be more than 25 at a time and each will be given a five-year term.

Type B: This category applies to proprietors of sports gaming facilities a designated area of a building or structure in which patrons may place wagers on sporting events with a type B sports license either in person or using self-service sports gaming terminals. There will not be more than 40 licenses given at any one time with a maximum number of sports gaming facilities that may be located in a county based on 2010 census. These will also be given a five-year term.

Type C: This category applies to proprietors who offer sports gaming through self-service terminals located at one or more Type C sports gaming hosts facilities. The casino commission must license at least two and not more than 20 at any one time, with a five-year term.

Applicants looking for licenses will be evaluated by a number of factors, including the length of time the applicant has been doing business, and the applicants current or intended contributions including tourism. Applicants will also be evaluated based on criminal history, tax compliance, reputation, bankruptcy history, public confidence, litigation history and prior compliance with gaming related laws.

The Ohio Casino Control Commission has yet to publish the actual application forms, therefore, it is anticipated that the Commission will not be accepting licensure applications until July or August of this year.

However, once sport betting goes live in Ohio, it is anticipated that the tax revenue will be significant. PlayOhio reports that by the end of 2025, Ohio online and retail operators could generate between $9 billion and $12 billion in bets annually. This translates to between $700 million and $900 million in annual gross revenue. With Ohios tax structure, which is 10% of an operators taxable revenue, that could mean as much as $90 million in annual taxes. At present, the bulk of taxes generated from sports betting will go to Ohio schools while a small percentage will go to support gambling addiction services.

To obtain the latest information on sports betting, visit the Ohio Casino Control Commission website at casinocontrol.ohio.gov.

Andrew Zashin writes about law for the Cleveland Jewish News. He is aco-managing partner with Zashin & Rich, with offices in Cleveland and Columbus.

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Reverse line movement in sports betting: How to tell where the public vs. sharp money is going – The Athletic

Posted: at 12:00 am

Sportsbooks are constantly adjusting and tinkering with odds and lines to balance betting markets. In an ideal world, they want the same amount of money on both sides of every bet so that they can take a little off the top and have no risk.

When one side of a bet is getting significantly more of the action, they are at risk to some losses. Sportsbooks dont like that. Thats why they move the line, to entice more betting on the other side and match up a potential vulnerability.

Thats the basics of line movement. Reverse line movement is a more advanced concept that occurs when a line moves against the trend of what side of a bet is receiving more action.

Lets take an NBA game with the Phoenix Suns at the Utah Jazz. The Jazz open as a 3.5-point favorite. Sports betting sites that show public betting numbers have the Suns getting nearly 80 percent of the action. That might be enough for a sportsbook to move the spread toward the Suns with a new line of Jazz -3. When it comes to line movement, theres a big difference between the percentage of tickets and the amount of money on each side, but for the sake of this example, both numbers are aligned and the line moves to Phoenix because of all the bets going to that side.

This is standard line movement. It wont raise any red flags but is a noteworthy trend in the betting action of this Suns-Jazz game.

Reverse line movement would come into play if the line moved to Utah -4 or -4.5. An overwhelming majority of the bets are already going to Phoenix and now the line moves to Utah, creating an even more enticing bet on the Suns for a majority of the betting public. What gives? Why would a sportsbook do such a crazy thing? What does the sportsbook or a small number of bettors know that the general public does not?

Now that weve established that reverse line movement is when a betting line moves away from the general betting public consensus we can get into why a sportsbook would want to do this.

The simplest answer is that a professional bettor, maybe even more than one, bet on the Jazz in this example. They saw something that most bettors did not. When those professional bettors, also known as sharps, make bets, sportsbooks take note. They need to know who is good enough to consistently take their money and respond accordingly. If a sportsbook respects a sharp bettor enough, they will move the line in that direction because the sportsbook wants to be on the same side as that bettor.

Its somewhat risky because the sportsbook will likely have even more action on Suns, putting them in a somewhat vulnerable position. This is the sportsbook essentially making its own value bet, thinking the sharp bettor is worth betting with and they will make more money moving the line this way.

This example assumes the line move toward Utah was actually reverse line movement from a sharp bettor. It could have been because of an injury update or weather conditions for an outdoor sport. The movement would also apply to the moneyline for the game because spread and moneyline bets are correlated. The concept works for sports where moneyline is more popular than spread (like baseball or soccer).

This part is easier to explain. Assuming its real reverse line movement based on a sharp bettor, which isnt always easy to prove definitively, wouldnt you want to be on the same side of a bet as a professional bettor? They dont win every bet, but that means its likely a good bet to place.

Once you see reverse line movement it might be too late. The line has to move for the reverse line movement to be apparent, meaning the edge is already smaller after the move is made. Its possible to still get the old line at a different sportsbook before they all react. Hunting for the old line at other books is the best way to take advantage of reverse line movement.

If the sharp bettor had a model that said the Jazz were six or seven points better than the Suns, they might be waiting for the line to move more toward Phoenix before placing their bet. As more and more action goes in the Suns direction, the line keeps moving and gets more appealing to the sharp bettor. Once they get a line where their model shows a significant enough difference between its prediction and the spread, the sharp bettor places the bet. Now the reverse line movement kicks in, to a line where the sharp bettor wasnt fully comfortable placing the bet. In this hypothetical scenario, theres still an edge compared to their model, but it isnt a significant edge.

Is that the bet you want? The sharp bettor didnt, waiting for an extra half or full point before placing the bet. This is why reverse line movement is significant to take note of, but may not always be actionable. If you can find the Jazz -3.5 elsewhere, matching what the sharp bettor got, go for it. That new -4 or -4.5 line isnt as appealing.

Reverse line movement is a cool trick for whenever it happens, but it requires watching public betting numbers to identify it and then finding a line that offers a good price before the move. If you read about reverse line movement in betting coverage of a game, its probably already too late.

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What is chalk in sports betting? – The Athletic

Posted: at 12:00 am

In prognostication and sports betting, the term chalk comes up somewhat frequently. Especially around the time of the NCAA Tournament, experts predicting the results will say they are going with chalk or something along those lines.

Chalk also applies in horse racing. That is the origin of the term, back to when odds were displayed with chalk on a board instead of a digital odds board. Favorites got more action, which is still true today, so the odds would change more frequently for favorites. Those favorites would have more smeared chalk after all the odds updates, thus heavy favorites became known as chalk.

What does chalk mean? In that context, it simply means the expected result. When filling out a bracket in March, having all No. 1 seeds in the Final Four is chalk because the No. 1 seeds are typically the favorites to win their regions. It doesnt have to be the Final Four either. Picking every favored team in the first round is also chalk. Someone may say thats a lot of chalk if they see someones bracket has almost all the better seeds advancing. That said, please dont be the person who picks all favorites in your NCAA Tournament bracket.

In sports betting, chalk is basically just a significant favorite. A team favored with a significant point spread would be considered chalk. All bets that are chalk are also favorites, but all favorites are not necessarily chalk. Chalk is not the complete opposite of an underdog.

An 8-9 or 7-10 first-round game in the NCAA Tournament wouldnt really have one side that would be considered chalk, but any top four seed in the first round would be considered chalk. So the 76ers being 9.5-point favorites and -455 on the moneyline against the Hawks would be considered chalk. The Trail Blazers as 2.5-point favorites with -136 odds on the moneyline, would not be considered chalk.

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What is a push in sports betting? – The Athletic

Posted: at 12:00 am

Just as there are ties in sports, sports betting has ties as well. Pushes are the ties of the sports betting world. They feel just about as satisfying as ties in any sport. Not awful, but not good either. At the end of the day, its a lot of sweating and stress just to get your initial investment back.

When a bet pushes, its as if nothing ever happened. The bet would essentially be canceled. The money you put down on the bet is returned and its like nothing ever happened.

A push happens when the betting line matches the exact outcome. If a spread is eight and the favored team wins by eight, thats a push. If a total is 54 and the final score is 30-24, thats a push.

Pushes are why lines with a .5 point, goal or run exist. Compare a baseball game with a run total of 8 to a line of 8.5. In both cases the over needs nine runs or more to win. The only difference is the under bet gets a win if there are eight runs scored and the total is 8.5. If the total is 8, both sides push with eight runs scored.

Not every bet can have a push. A moneyline bet, for example, is all about predicting the result so there cant be a tie on the bet. Either the team you bet on won or it didnt. Even in sports with ties, the tie is an outcome included in moneyline bets so even a tie wouldnt be a push. The exception to this is a Tie No Bet option that youll find if you dig a bit deeper into a sportsbooks offerings. This is available in soccer or hockey (where it is called Tie No Bet Regular Time). This specific bet type provides you insurance in case of a tie in soccer, at the cost of your odds, and essentially gives you a push if the game ends in a tie.

With that exception out of the way, pushes are possible in totals and spreads, but not traditional moneyline bets.

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Bally Sports teams with BetMGM to launch sports betting program – SBC Americas

Posted: at 12:00 am

Bally Sports, a division of Sinclair Broadcast Group, has announced a partnership with BetMGM to launch its networks first sports betting program, Live on the Line, Powered by BetMGM.

Live on the Line will provide up-to-date information for regular bettors and offer unique and entertaining fun content for casual fans. It will air weekdays at noon ET across Bally Sports 19 regional sports network brands (RSNs), the Bally Sports app, and Sinclairs Stadium.

Stadium, Sinclairs 24/7 multi-platform sports network, is producing the hour-long show alongside Bally Sports out of its Chicago-based studio. Custom BetMGM graphics, set integrations, and interactive elements will be visual cornerstones of the program.

Matt Prevost, BetMGMs Chief Revenue Officer said: Weve found a great partner in Bally Sports and are confident that Live on the Line is going to be one of the industrys leading sports betting-centric shows.

Live on the Line debuted this week, highlighting national sports betting storylines with a regional appeal by providing expert picks while looking ahead to the days matchups.

Hosted by fantasy sports and betting personality Brad Evans, former college basketball player Dani Klupenger, and a three-time Emmy-nominated sports reporter and personality Camron Smith, the hour-long program will feature BetMGM celebrity and athlete brand ambassadors, odds experts, RSN guest analysts, and more.

This marks a significant step for the company as we combine resources across our sports portfolio to launch our first RSN-wide sports betting program, added Steve Rosenberg, President of Bally Sports.

Our collaboration with BetMGM further builds upon our programming strategy to offer fans new, informative and entertaining content that aims to drive increased interest around our live game broadcasts.

Earlier this month, BetMGM provided an update on its 2021 performance and outlook for 2022, informing investors that it expects its FY2022 net revenue to exceed $1.3bn thanks to expansion into new US states and markets.

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Track sports betting laws across the United States with Tipico’s legality map – For The Win

Posted: January 27, 2022 at 11:59 pm

Sports betting is growing across the country, but sometimes it can feel confusing know whats legal in and what isnt in each state. Our new interactive map, powered by Tipico Sportsbook, shows you the current laws regarding sports betting across the U.S.A.

Tipico Sportsbook, in particular, is currently live in New Jersey and Colorado, with more states coming on board in the future. Mobile betting is online in 18 states overall with another 12 states allowing in-person betting. Those numbers will continue growing with Nebraska and Iowa approving legislation around sports betting, and three more states have active legislation.

There are 15 states with no betting movement.

Lets Make This Interesting Place your legal sports bets online in New Jersey and Colorado with Tipico Sportsbook, a trusted, global sports-betting leader. Iowa, get ready, Tipico is coming to your state soon! New customer offer: Deposit $10 or more, get $100 in instant bet credits! 21+, see Tipico.com for Terms and Conditions. Bet now!

Gannett may earn revenue from Tipico for audience referrals to betting services. Tipico has no influence over nor are any such revenues in any way dependent on or linked to the newsrooms or news coverage. See Tipico.com for Terms and Conditions. 21+ only. Gambling problem? Call 1-800-GAMBLER (NJ), 1-800-522-4700 (CO).

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Sports betting: The 49ers have had the Rams number lately – The Philadelphia Inquirer

Posted: at 11:59 pm

Had to laugh when it was pointed out that San Francisco quarterback Jimmy Garoppolo is 15-4 against the spread when his team is the underdog.

More like his defense is 15-4 ATS, was a common response.

This season, the 49ers are 4-1 against the spread as underdogs, with more impressively four wins outright. Theyve beaten Dallas, Green Bay, and the Rams twice.

The Rams, who will host Sundays NFC championship, blew a 17-point lead to San Fran on Jan. 9 and nearly had one of the all-time playoff gags on Sunday before beating Tampa Bay at the buzzer. They were just 7-9 against the number as a favorite, but covered four of their last five at home. The exception being the game against the 49ers.

Three other things to know about the 49ers-Rams (Sunday, 6:30 p.m., Fox29):

The 49ers have won the last six meetings. The last two played in Los Angeles were on walk-off field goals by Robbie Gould, who drilled the winning kick at the buzzer Saturday night to beat Green Bay.

The Rams have been favored in the last four meetings by an average of about 3.5 points, which is where this Sundays line generally opened. The over/under is 46.5.

Garoppolo is 4-1 in his career as a playoff starter. He has two touchdown passes and five interceptions in those five games, and is on the verge of taking the 49ers to the Super Bowl for the second time in three years. Thats hard to do.

The Chiefs opened at -6.5 in some places, -7.5 in others. That could be a crucial difference for both bettor and bookie. The line had settled into Chiefs -7 by Monday.

READ MORE: Joe Banner: Eagles should move on from Jalen Reagor this offseason

The big move was in the over/under, which opened at 50.5, but quickly jumped to 54 shortly after Sunday nights track meet when the Chiefs eliminated the Bills, 42-36, in overtime.

Three other things to know about Sundays game (3 p.m., CBS3):

Kansas City is 11-1 after starting the season 3-4. At one point, the Chiefs were +1600 to win the Super Bowl. They are the clear favorites today.

K.C.s only loss in that span was at Cincinnati on Jan. 2. The Bengals were 3.5-point dogs and won it with a 20-yard field goal by Evan McPherson in the final seconds. The Chiefs led, 28-17, at the half, and the over (51) hit early in the third quarter.

The Bengals have covered their last five as road underdogs with outright wins at Pittsburgh (+3), at Baltimore (+6), at Denver (+3), and at Tennessee (+4). They lost at Cleveland in the final week of the season while resting most of their regulars, but still covered the +5.5-point spread.

BetMGM/via SportsOddsHistory.com

Feb. 8, 2021, vs. Jan. 24, 2022

Cincinnati: Was 80-1, is 8-1

Kansas City: Was 6-1, is approximately 1-1

L.A. Rams: Was 12-1, is 2-1

San Francisco: Was 16-1, is 9-2

READ MORE: Thats on us to continue to build: Eagles GM Howie Roseman assesses Jalen Reagor, wide receiver corps

NFL: The Chiefs are +120 to win the Super Bowl, but Patrick Mahomes to win Super Bowl MVP is +180.

NFL: A money-line parlay on the four winning teams this weekend would have paid out somewhere around 30-1. Had the Bills (up three with 13 seconds left and kicking off) beaten the Chiefs, that payout would have been about 37-1.

College basketball: A FanDuel customer turned a $10 four-team parlay (in-game) into $64,170 with four college basketball underdogs on Saturday. Three needed to win in overtime on the road, including Army erasing a 27-point deficit in the first half to shock Navy.

NHL: Just how rough has it been for the Canadiens? On Jan. 1, they played at Florida and the Panthers were -650. It was the highest line for a hockey game many in the industry had ever seen. Over the weekend, Montreal played at Colorado and the line was even higher; the Avs were -700. Montreal forced overtime, but Colorado won it. It was the Avalanches 11th win in 12 games. Montreal had eight wins all season entering Monday.

NHL: File this away for later in the week: Overs are 18-6-1 in Florida Panthers home games. Their next is Thursday against Vegas, which has an 11-5-0 mark for the overs in road games. Florida entered the week second in the league in goals per game (4.00). Vegas is sixth (3.46).

There were two NFL games on Saturday, 11 in the NHL, three in the NBA, 130-plus in mens college basketball, plus the Aussie Open, and a full UFC card.

Days like today are the ones you just want to get through no matter how as a bookmaker, tweeted Rex Beyers, risk manager of SuperBook in Las Vegas. The informed players have a significant edge based solely on sheer volume of games where we have to put up a number and wont have all the pertinent info.

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How Will Taxes on Canada Sports Betting Work for Bettors & Operators? – The Action Network

Posted: at 11:59 pm

Credit:

Dave Sandford/Getty Images

Updated:

Jan 25, 2022, 08:31 AM EST

When private sportsbooks enter the Ontario online sports betting market this year in Canadas largest market, it will generate money through tax revenue from operators.

But perhaps the best benefit of winning bets as a Canadian citizen is not having to pay taxes on your earnings. Citizens are only relegated to report their earnings and pay taxes on the interest accrued from any money from winning bets. This only applies to citizens who wager recreationally and not as a full-time occupation.

Private sportsbooks, on the other hand, are required to pay a standard 20% effective tax rate, which is an average rate across Canada. New Jersey is at 13%; Pennsylvania much higher at 36%.

Fortunately, Canadas tax rate is well below New Yorks 51% rate, which can give operators a sigh of relief as they conduct their business in another major market.

According to the Vixio Gambling Compliance, Ontario online sports betting can generate almost $989 million in gross revenue in its inaugural year.

Thats a very lofty projection. New Jersey sportsbooks have generated $1.6B in gross revenue since legalizing in 2018, and NJ is now the U.S. leader in sports betting.

Pennsylvania (13M), which is closer in population to Ontario (14.5M), has done $889M in gross revenue by sportsbooks over the last three years.

NJ has generated $202M in tax revenue for the state since legalizing in 2018 with a 13% tax rate for online bets.

The prevalence of offshore betting has been an issue for a long time across Canada, which played a part in the decision to grant private sportsbooks to operate in Ontario.

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