Category Archives: Sports Betting

NASCAR is aiming to emphasize matchup-related betting this season, as the organization looks to increase overall wagering on the sport.

NASCAR had an entertaining problem on its hands last season: two of its drivers were unhappy with each other, and their frustrations were spilling onto the racetrack.

The feud that bloomed between Chase Elliott and Kevin Harvick was indeed the talk of the sport for weeks. The timing of the spat even meant that more intrigue was injected into NASCARs playoffs, driving up interest among fans and media at a crucial time.

In theory, then, the interest of recreational sports bettors should have been piqued as well. An event involving two guys who dont like each other is the foundation for so much retail and online sports betting that it should have been an easy win for NASCAR, which has eyed wagering as a way to attract new fans to the sport.

And yet, the traditional method of betting NASCAR picking the winner of a race out of a field of 30-plus drivers doesnt intuitively lend itself to a two-person feud. Neither Elliott nor Harvick won a race after their ill feelings arose at Bristol last September, although Elliott did progress further into the playoffs, wishing Harvick "a merry offseason" as he did so.

This is something NASCAR is seeking to remedy this coming season by pushing featured" matchups.While sportsbooks already offer driver-versus-driver wagering, NASCAR's plan would emphasize a pairing like Elliott and Harvick and involve more familiar betting markets, such as moneyline and point spread-like options that are so popular for football and other sports.

Matt Stallknecht, NASCARs senior manager of sports betting, said that far more niche sports than stock-car racing saw big jumps in wagering in the U.S. during the earlier days of the COVID-19 pandemic, including Korean baseball and table tennis.

And the reason they did so well is because those sports are structured in a way, and the betting offerings on those sports are structured in such a way, that are very compelling to the end user, Stallknecht told the media on Wednesday. So with things like the matchups and spread, we're finding ways and we're learning a lot about how can we take our existing products and put a betting tradition thats a little bit more compelling on top of it."

The emphasis on matchups is part of the strategy that the National Association for Stock Car Auto Racing has for growing the amount of wagering on the sport. And by growing its handle, NASCAR hopes it will increase interest and, as a result, its total fanbase and viewership, which remain concentrated in the southern United States.

We want to get folks that are following the sport into that mindset of thinking about not just the race winner, Stallknecht said.

NASCAR is now entering its 2022 season with four authorized gaming operators as partners Barstool Sportsbook, BetMGM, Fubo Sportsbook, and WynnBET and those relationships are bearing fruit. Namely, the organization's share of U.S. sports-wagering handle climbed to around 0.25% last year compared to about 0.1% for 2020.

And as we increase the partnerships, I anticipate that that trend will continue, said Joseph Solosky, managing director of sports betting at NASCAR. Instead of trying to take a piece of the pie away from other sports, we want to grow the pie.

As an example of that overall growth, Solosky pointed to a handle-boosting promotion Barstool Sportsbook ran last year that provided a free bet to players on a Kansas City Chiefs game if they also wagered beforehand on NASCARs Kansas race.

Still, the drive for more handle centers around the drama of featured matchups, the vision for which involves bookmakers continuing to offer straight-up options, but also something similar to the point spreads used for various stick-and-ball sports.

Instead of points, though, a NASCAR spread would be based on the number of positions between the drivers at the end of some or all of the race, such as Elliott opening as a 1.5-place favorite in a matchup against Harvick. If Elliott then were to finish fourth in a race and Harvick sixth, Elliott backers would win their bet.

The addition of same-race parlays, similar to same-game parlays, is being discussed too, in which a single wager could be made on the outcome of several different bets during an event. In-game or in-race wagering is another avenue of growth being eyed by NASCAR, although that could take more time to catch on.

For now, we're really taking that crawl-before-you-walk-before-you-run approach and seeing how the featured matchup and head-to-head betting is perceived by the market in the first few months, Solosky said.

NASCARs approach was developed with the help of conversations the organization had with sharp bettors, some of whom didnt become interested in wagering on the sport until the pandemic. Armed with those insights, among other things, the association is aiming to structure betting on the sport in a way that can attract new faces.

Those plans will really start being put to the test again on February 6, with the Busch Light Clash that will be held for the first time at the Los Angeles Memorial Coliseum. Some sportsbooks already have odds up for the exhibition event, which NASCAR sees as a good sign.

However, the winner of the event is not the only thing on which NASCAR would like to see wagering.

"I think with the matchup content if we can organically introduce that type of thinking in the right places, not only can we increase the handle on the sport, but I think that we can get fans to watch the sport in a different way," Stallknecht said. "And I think that's even more important than anything to sports betting."

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NASCAR Wants to Drive More Betting on its Races And Not Just Who Wins Them - Covers

The Maryland Senate is to consider a bill that would restrict the awarding of sports betting licences to facilities located close to a sports venue that is already licensed.

Filed last week and sponsored by Senators Ronald Young and Michael Hough, Senate Bill 297 would prohibit the states Sports Wagering Application Review Commission from issuing licences to venues within a 15mile radius of a Class A1 or A2 sports betting facility in Allegany County, Cecil County, or Worcester County.

SB 297 would also prohibit the awarding of licences to venues within 10 miles of a Class B-1 or B-2 licensed sports betting facility in Calvert County, Carrol County, Frederick County and Washington County.

In addition, licences would not be issued to venues within a 1.5-mile radius of Class A-1 or A-2 sports wagering facility located in any other county, nor any other Class B1 or B2 sports betting venue.

Should the bill gain approval, the new rules would come into effect from June 1 this year.

Marylandofficially opened its regulated sports wagering market last monthafter state Governor Larry Hogan placed the first legal bet at MGM National Harbor.

The Maryland Lottery and Gaming Commissions (MLGCC) Sports Wagering Application Review Commission (SWARC)issued five sports betting licencesto land-based casinos in November.

Penn Nationals Hollywood Casino in Perryville; Caesars Entertainments Horseshoe Casino in Baltimore; Cordish Companies Live! Casino & Hotel in Hanover; the MGM National Harbor in Oxon Hill and Churchill Downs Ocean Downs Casino in Berlin all secured licenses.

The MLGCC cleared the quintet to receive licenses earlier in 2021.

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Maryland bill aims to restrict betting licences near sports venues - iGaming Business

In its first weekend, the four online sports operators in New York took in $150 million in wagers, and 650,000 unique player accounts were set up which grew to 1.2 million accounts by the end of the first week, according to GeoComply, a software provider that ensures location for sports bettors. Thats more than New Jersey and neighboring Pennsylvania combined for the same period.

And with twice the population of New Jersey, New York, with its 20 million residents, is likely to eventually eclipse the title New Jersey has held since 2019 as the sports betting capital of the nation after its revenue surpassed Nevada and its sprawling Las Vegas sports books.

"With a product as we have, I would expect we leapfrog over New Jersey, said state Sen. Joseph Addabbo (D-Queens), who sponsored the sports betting measure in New York. But it is about sustainability and the long term."

Its taken four years for sports betting to go from a dark market vice, relegated for most Americans to bar bookmakers and risky offshore gaming sites, to an accepted pastime in the vast majority of the country.

And New Jersey was the most aggressive to get into the market after winning and losing a number of lawsuits along the way, helping it to cement its national lead as other states sought to catch up.

Sports betting has been legalized in more than 30 states, with 18 having some form of online wagering. It has quickly become a cash cow for states and local governments followingthe 2018 Supreme Court ruling overturning a federal ban that essentially gave Nevada a legal monopoly on the industry.

In New Jersey, the amount bet on sports exceeded $1.3 billion last October alone, a national record, and all but $100 million of it came from online wagering, even with the state's nine casinos in Atlantic City and three racetracks offering in-person betting.

In New York, four upstate casinos have offered in-person betting since 2019, but the revenue has been paltry compared to the early weeks of online betting.

And the industry is in its infancy.

California is eyeing a referendum in November to likely decide whether it will enter the burgeoning sector, and Ohio is expected to have online sports betting in 2023.

In two of the other largest states, Florida and Texas, sports betting remains uncertain. A federal judge last month rejected Florida's bid to legalize it through the Seminole Tribe of Florida, leaving the state also with the possibility of a referendum in November. In Texas, lawmakers might reconsider it in 2023 when state lawmakers return to Austin.

Goldman Sachs last March estimated that online sports betting and internet gambling revenues in the U.S. may grow from $900 million a year to $39 billion by 2033.

New York's entry into the mobile industry may serve as a key guide of the room for growth.

GeoComply found that just 9 percent of New York players had placed bets previously in New Jersey and that nearly 88 percent of New York customers were brand new to the sites.

In other words, there appeared to be enough interest in New York to limit the impact in New Jersey.

The momentum of New Yorks sports betting launch has continued, and it is mostly homegrown, said Lindsay Slader, the company's managing director of gaming, in a statement.

Indeed, New Jersey averaged 12.6 million transactions the two weekends before New York's launch and 13.1 million the two weekends since, the company said.

"New Yorks launch of mobile/online sports betting is likely to only impact patrons living close enough to the New Jersey border to make travel from New York to New Jersey for the purpose of wagering convenient," said Jane Bokunewicz, the faculty director at the Institute of Gaming, Hospitality and Tourism at Stockton University in Galloway, N.J., in an email.

How sustainable the rush in New York will be is uncertain. The state expects tax revenue to grow from $375 million in coming fiscal year to $518 million by 2027. And, like with regular casino gambling, the ultimate size of the market for sports betting could be limited.

Still, New Jersey said it is well-positioned to stay competitive with New York for one key reason, in particular: taxes.

New York's tax rate on mobile sports betting providers is 51 percent, among the highest in the nation, compared to 14.25 percent in New Jersey.

And New Jersey's sports wagering revenue, which is what is left after payouts to winners, has showed no signs of slowing: It doubled between 2020 and 2021 to a nation-leading $816 million, state records show.

The lower tax rate should give New Jersey operators an opportunity to offer new incentives to lure back New York customers, said James Plousis, chair of the New Jersey Casino Control Commission.

"Theres no doubt about it, it will have some impact, but I think were well positioned," he said. "The tax environment in New jersey is much better than in New York."

For Atlantic City, which struggled for years after casinos began opening in other East Coast states, mobile sports betting and other internet gambling games New Jersey has allowed give the resort town another way to build revenue without having to draw gamblers to its hotels.

In 2021, internet gambling and sports betting represented 46 percent of the total gaming revenue in New Jersey, putting it nearly on par with all the revenue the casinos brought in from traditional gaming, records show.

Perhaps the biggest impact so far has been in the physical sportsbooks in New Jersey. Attendance has been down at the Meadowlands Racetrack sportsbook, a mere 10 miles from midtown Manhattan and by far the largest one in the state.

Owner Jeff Gural, who also owns a sportbooks and horse track in the Southern Tier region of New York, said he expected more of a hit on the mobile side of the business rather than the in-person toll side at the Meadowlands.

But he also wondered how long New York's rise will last. Many customers were probably lured in by big promotions, such as $300 in free bets offered by Caesars.

"I think we have to see what happens six months from now when all the free money disappears," Gural said.

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New Jersey leads the nation in online sports betting. Here comes New York. - POLITICO - POLITICO

The Chesapeake Beach Town Council passed an ordinance Friday that allows the town to collect tax revenue on brick and mortar sports betting.

The Chesapeake Beach Town Council passed an ordinance Friday that allows the town to collect tax revenue on brick and mortar sports betting.

The ordinance expands the Admission and Amusement Tax for the Town of Chesapeake Beach to include Sports Betting for Class A1, A2, Class B1, and Class B2 licenses.

In November of 2020, town residents voted against sports betting in Chesapeake Beach by a 2 to 1 margin.

The Chesapeake Beach Town Council acted to prevent expanding gambling activities after the election.

Its my opinion that its the fiduciary responsibility of this body to pass this ordinance so we can maintain our revenues and continue to provide world class services to the good people of Chesapeake Beach, said Mayor Pat Mahoney.

Maryland pre-empted the town allowing sports betting with one license for a brick and mortar facility within the municipal limits of Chesapeake Beach, Mahoney said during the town council meeting.

In a 5-to-2 vote in November, the Sports Wagering Application Review Commission awarded the first Maryland in-person sports betting licenses.

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Town of Chesapeake Beach passes ordinance to collect tax revenue on sports betting - WTOP

A lot goes into making the right prediction and turning a profit, including setting achievable objectives, learning the basics, and being selective with wagers. Furthermore, players need to set aside a betting budget and use only legitimate apps to succeed.

Overall, remembering all the informal sports betting rules can be challenging. If you need some help with this task yourself, take a look at our list of tips below:

First, you should choose the best gambling platform for placing your bets. A bookmaker is an organization that offers its services to the public. It allows users to place bets on various events or activities and also pays out winners if their chosen team or player wins. The bookie sets the odds for every game in accordance with their own profitability and is not bound by any particular rules or regulations.

When choosing a bookmaker, make sure you go through all the available options and only choose one that offers competitive odds. Also, be careful with the country they are operating from some countries have strict legal restrictions on betting, so make sure to check them as well.

One of the most popular options is the online sportsbook, which allows you to place your wagers easily and quickly. Another advantage is that you can access it from anywhere and anytime, making it a convenient solution for those often on the go. However, avoid using unofficial sites that promise big payouts without having any real data about their odds.

A better option might be the mobile betting app, which provides more opportunities for making predictions and placing bets on the go, regardless of your location for example, here, you can browse the best UK betting apps for Android & iOS. Keep in mind that certain apps require you to register before accessing them, and establishing your account can take a while.

By using such an app, you can easily track your progress, which can help you make better decisions. Finally, some organizations offer exclusive bonuses or promotions to new players, which can be pretty helpful when trying to beat the competition or break even on your bets.

The next thing to do is perform extensive research on your chosen sport and its participants. To this end, you can use online resources, such as sports betting blogs, podcasts, or YouTube channels. You should also look for the most recent updates about the competitors performance. Learn about their season statistics, past match results, and recent developments in the field of betting.

Many online sources offer valuable data, such as statistics from past games, injury reports, and lineups for upcoming matches. Also, watch some of the games live to see whats going on for yourself and whether you think your chosen team has a chance of winning. This will help you better understand how to proceed with your wagers.

Although the odds might be one of the most critical factors in your overall success rate, they are not necessarily a good indicator of whether you will win or lose. In fact, choosing a team based on their overall performance might be just as effective as choosing one based on stats alone.

For example, if two teams have similar odds, but one has been performing significantly better than the other in recent matches, it might be wiser to choose them over the other team despite their lower odds of winning. Overall, knowing how to calculate odds is not enough; you need to factor in additional variables as well.

If you are new to sports betting, you must start small before moving to larger bets with higher stakes involved. This way, you can learn how to read trends in statistics and spot key indicators of winnings without risking too much money at once. Of course, once you get comfortable with this process, feel free to start raising your stakes if you like what you see so far!

Most sports bettors agree that setting a gambling budget is essential, as it helps them avoid overspending and stop when they are winning or losing too much money. If you have a limited budget, its good to stick to it. In the case of most players, it is better to drop out of the game before you lose everything than to keep playing in hopes of getting a winning streak.

The essential advice on sports betting that anyone could give you is to remember that it is just a game. If you want to boost your adrenaline rush and get the most out of your sports watching experience, by all means, try it. But if you want to make money this way, its best to keep things in perspective and stick to playing for fun.

So there you have it, some of the most valuable tips for sports betting success. Use this knowledge well, and youll be a successful sports bettor in no time!

In the end, it is up to you to decide whether you want to try your luck at sports betting. It can be fun, but it also needs a lot of time and effort to master. If you have a set budget and only use the best apps for sports betting, you can have a great time with this form of entertainment. After all, there are very few things as exciting as placing bets on your favorite team and waiting to see if they win or lose.

Remember, a sports gamblers success and failure are in large measure up to them, so stick to these tips, and you cant go wrong.

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Sports Betting Tips To Make More Successful Bets - Eye On Annapolis - Eye On Annapolis

In this guest column, Kamran Hedjri, CEO of PXP Financial, which specializes in acquiring and processing services to help businesses simplify and support their global payment needs, analyzes the US sports betting and iGaming markets, and for 2022 he predicts an uptake in regulation, better technologies driven by bigger investments, and the continuation of iGaming momentum.

The iGaming and Sports Betting sector is a multi-billion-dollar industry with global reach that has found much success across Europe. Yet despite this, for the longest time it was incredibly difficult for gaming operators to run in the United States of America (U.S.) as laws and regulations limited, or outright prevented, forms of gambling. Fortunately, since 2018 regulators have slowly eased up on restrictions and this has created many opportunities for both local and foreign companies to begin operating in the region.

While there are lots of opportunities for success in the US, it is not as simple as moving into the country and setting up shop. There are several regulations still in place across all 50 US states, and gaming operators need to ensure their ability to take transactions from players is not impeded by this. The worst thing an operator can do to its player base is prevent them from being able to play, after all.

Here are some predictions for 2022:

While many states have been updating their regulations to make iGaming and Sports Betting legal, there are 50 states across the US and its unlikely that all of them will make a complete turnaround by 2022. With that said however, we do expect the turnaround from states still unsure, to happen at a much faster rate than in previous years.

This is largely down to regulations being workshopped by other states and reaching a condition where they are more acceptable to a wider council. As the hesitant US states begin to see regulations working effectively in the states that have already opened up, they will also begin to lessen restrictions.

The process will ultimately be a lot faster as well, as these states can easily adopt what has worked elsewhere and make small amends instead of workshopping new regulations from scratch. There will be more case studies for the regional regulators to work from and this will speed up the process.

So, while we dont expect to see all 50 states open to iGaming and Sports Betting by the end of 2022, we do expect to see a larger portion of US states adding new regulation in support of the industry than ever before. This is something any company involved in the sector needs to be ready for.

As this sector is growing and proving to be a success, this will draw the attention of investors who will be keen to take part in supporting the growth of the industry. This will naturally result in many of its upcoming and currently key players receiving funds that will support in their growth and one way we will see this growth take form is with new technology.

Innovation is constantly happening across all technology sectors, payments and otherwise, and some of this technology will support in streamlining the process for players to participate in iGaming and sports betting, as well as offer new ways to play. We anticipate that a slew of new investments will lead to the adoption of several new technologies to this sector, and that in turn will lead to further investment.

Over the COVID-19 pandemic, the industry saw a huge boost in iGaming as players were forced online. Even though lockdown has subsided, and many in-person casinos have reopened, the revenue made from iGaming alone has not decreased. In fact, it has increased along with revenue across the industry as a whole and the will certainly continue its upward trajectory throughout 2022.

iGaming and Sports Betting is a thriving industry currently and has proven to be so globally for many, many years. Over the last few years, the US has been given the opportunity to experience this success and it is only going to rise further.

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American iGaming and Sports betting is on the rise with new investments and regulations 2022 predictions - Yogonet International

We are now 15 months into this bi-weekly newsletter, heading into our second Super Bowl. Ive gone from contemplating the impact of legalization on The Big Game to wondering whether New Jersey will find a way to introduce legal betting on Wordle to get New Yorkers to go back to betting from the train platform in Hoboken. Guess our baby is growing up.

Next week will be a big one for former NFL Exec VP Eric Grubman and NHL COO John Collins, who in September 2020 teamed up to lead a SPAC that would target acquisitions in sports and entertainment. The following April, after raising $400 million via IPO, they announced a merger with the parent of global sportsbook operator Betway at a valuation of $4.75 billion. They expected the deal to close by November and said the brand could be operating sportsbooks in as many as 10 states by years end.

Delayed more than two months by complexities arising from the SECs closer monitoring of the SPAC process, as well as Super Groups roots as a privately held company registered in Malta and operating from the British Isles, the company expects to finally complete its path to the public markets next week.

On Wednesday, shareholders in the SPAC will vote on whether to convert their holdings to Super Group stock or withdraw their investment. Assuming that goes forward as expected, the transaction will close on Thursday, setting up Super Group management to ring the bell on the NYSE on Friday, trading under the symbol SGHC. On recent road shows, Grubman and Super Group management touted metrics that traditionally resonate with investors: Nearly two decades of profitability, $350 million in EBITDA in the most recent year, $400 million cash on the balance sheet and no debt -- all in a sector thought to have high growth potential globally.

In a couple of key ways, Super Group will fly into a headwind. Investors have cooled on the gambling sector of late, troubled by losses associated with high marketing and promotional spends. They havent been crazy about SPACs, either. Its a double whammy, said Collins,who will move from CEO of the SPAC to a board position for Super Group, which Grubman will chair.

SPAC has fallen out of favor," added Collins. "And there have been some other deals that have rewarded these high-flyer growth companies, but without a lot of profitability. And thats not what Super Group is. Super Group is globally scaled, been at it 20 years, highly profitable, flush with cash, with no debt. But you get lumped in with the SPAC deals and the gaming sector.

We're at this awkward moment where youve got a capital market thats a little concerned. Volatile is the best word that Ive heard on CNBC and in our investor meetings. So Super Group and the SPAC have to navigate that. But theres a lot of confidence that once we get through that birth in a difficult market, Super Group is going to be what we always thought it would be -- a great public company.

Collins, who was CEO of NFL On Location until it was sold to Endeavor in January 2020, has been at this long enough to see the temperature swing among potential investors. At the start, they questioned why Super Group signed on to a merger that valued the company at less than $5 billion, which seemed cheap compared to other deals in the sector. Of late, skepticism has come from the opposite direction. Now, guys are saying I love the company, but the gaming sector is down significantly, Collins said. And were saying, Yeah, because people are valuing what we hoped they would value in Super Group, which is profitability. This company makes money every day.

Betway doesnt fit what has been the profile of stocks to watch in U.S. sports betting. Though open in five states -- Colorado, Indiana, Pennsylvania, New Jersey, and Iowa -- it hasnt done significant handle in any of them. Betway bought some visible sponsorships during the Stanley Cup Playoffs and with NBA teams, but those have been global branding plays -- not local market pushes -- and choices driven by the companys ability to expose a single sportsbook brand on broadcasts around the world.

Management argues that the fact that Super Group is not the market share leader in a single country as irrelevant, pointing instead to what it sees as the more meaningful performance indicator, incremental revenue that turns directly to profit. Collins predicts that eventually will resonate with investors, and possibly acquirers.

It will take a quarter or two of continued strong performance for people to say, You know what? These guys got the model," Collins said. Because the capital market is kind of coming back to what we saw in Super Group, rewarding companies that are global, that have scale, that have no debt. At some point, the capital markets are going to reward that, because thats what they look for.

When my college buddy Tom Farrey phoned a few years ago to ask what I thought about a big idea to funnel some of the tax proceeds from legalized sports betting to rescue school and youth sports programs in underserved communities, I told him I thought his heart was in the right place, but that his feet were likely to find themselves near the back of a long line. The first states to legalize typically sent revenue from gambling to their respective general funds, to be divvied up among interests. Problem gambling organizations might get a tiny sliver of earmarked funding. But school or community sports? It didnt seem likely. The broader budget deficits faced since then made it even less likely.

Im glad that Tom, who leads the Aspen Institutes sport and society initiative, pressed on with the idea, which since has taken hold. Some of the heavily taxed proceeds from sports betting in New York soon will fund a grant program that will steer $5 million a year to youth programs in underserved communities. The bill signed into law in Ohio in December directs 98% of the proceeds from its 10% tax on sports betting revenue to schools, with half of that going to interscholastic athletics and other extracurricular activities.

A coalition of youth sports organizations and businesses lobbied legislators in both states, striking gold in New York when its message resonated with state assembly member Monica Wallace, who convinced other lawmakers it made sense to use newfound money from sports to address a crisis in youth sports. You want to find a Monica Wallace; someone who can champion this idea with other legislators, said Matthew Gould, a spokesman for the PLAY Sports Coalition. As these opportunities arise, Play Sports will continue to get involved.

If the proceeds from legalized sports betting can help revive shrinking public school athletic departments or save imperiled youth programs -- and there are too many of both -- thats a good thing.

MGM Resorts and Entain will infuse another $450 million in the BetMGM joint venture this year, bringing their combined investment to $1.1 billion since launching in 2018. The companies pointed to 2021 performance that outpaced projections. They said they expect 2022 net revenue from operations to rise to $1.3 billion, up from $850 million. On an analyst call following the announcement Wednesday, BetMGM CEO Adam Greenblatt said he anticipates profitability in 2023, but couched that with a realistic reminder of the volatility of the emerging U.S. market, which requires massive marketing spends each time a new state opens.

There will be months next year when we will be EBITDA positive, Greenblatt said. But lets not lose sight of our reality. We are not selling toothpaste in a very mature market in a price stable environment. Thats not this business. The market is still in its relatively early ... with lots of new states becoming addressable at different and uncertain times. Were also subject to short-term results based volatility in sports. You only have to look to this football season to bear that out. October was tough. November was fantastic. So while we cannot commit as I stand here today to profitability for the full year 2023 at this stage, we do expect to enjoy many months of positive EBITDA as the year progresses.

Greenblatt also predicted the likely slowing of the runaway train of promotional spending, which has sportsbooks dangling as much as $5,000 in refunds on a first bet by a new customer. Ultimately, capital is rational, Greenblatt said. And capital in this market is getting smarter. So what we at BetMGM are able to do with our board is demonstrate the cohort economics and the value of that cohort ROI, which fuels the fire and almost justifies further investment. I wouldnt comment about any of our competitors. But I do think capital is going to become more demanding, which will drive more selective investment."

Added Greenblatt: What we will see is a path to a rationalization of the promotional environment. And it may happen through the course of this year. I think we maybe weve got one more NFL cycle of exuberance ahead of us. But certainly over time maybe Im old-fashioned but capital is rational. Money is rational.

The record-shattering performance of sportsbooks in October, which likely will turn out to be the peak of 2021, offers a good opportunity to check in on how online market share is shaping up across the US when all legalized states are combined. Unfortunately, the two states with the largest handle, New Jersey and Nevada, do not break that out sportsbook by sportsbook. But eight states that together took $3.27 billion in sports wagers in October do.

The combined share of handle in those states (Illinois, Pennsylvania, Michigan, Indiana, Arizona, Iowa, Connecticut and West Virginia) shakes out like this:

DraftKings leads in four of those states; FanDuel in three. PointsBets fall to 3% in those more transparent states mirrors a U.S. market share drop that it logged in its last earnings report in October, when it pointed to outsized advertising and promo spends by its competitors as the likely reason.

For the quarter that ended in September, PointsBet saw share of handle drop in six states:

The first states to report December results showed continued decline from Octobers handle records. At $1.23 billion, New Jersey was down 2% from November and off 6% from October. It was the fourth consecutive $1 billion month for New Jersey, spanning the entirety of the NFL season.

Iowa was down 7% to $266.5 million, but still more than 50% ahead of the same month in 2020. New Hampshire ($86.4 million) and Oregon ($33.7 million) fared better, up 4% and 3%, respectively. Pennsylvania ($750.4 million) was off by 1%. Indiana ($463 million) finished even with last month. Connecticut ($150.1 million) was up 3%. Michigan was the lone large state to post a gain, up 3% at $514.6 million.

NOTES: Michigan and Connecticut sportsbooks were not operating online in 2021. Mississippi and Arkansas are retail only.

Enjoyed a recent guest spot on a podcast and video series hosted by SeventySix Capital Managing Partner Wayne Kimmel, who did a nice job of turning the tables on me. Im usually the one asking him the questions. We dove into recent sportsbook sponsor movement around college sports, how sports betting fits into the media landscape and what the coming year might bring -- and told a few war stories. You can find the YouTube video here or Apple podcasts version here.

SeventySix Capital's Wayne Kimmel and I discussed the state of sports betting

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SBJ Betting: Collins, Grubman ready to hit the market with Super Group - Sports Business Journal

Introduction to Sports Betting

Online crypto betting sites are gaining tremendous popularity as they provide an additional way of winning some extra bucks. Most of the betting and casino platforms offer a variety of sports events, tournaments and have a diverse variety of sports betting options. The demand for online sports betting is growing exponentially which is leading to the development of new services in this industry sector. Nevertheless, not all platforms are secure and legit. Therefore, players, who do not want to lose their money due to fraud and scamming activities, must carry out basic ground work to check the background and trustworthiness of the sports betting and casino sites.

Crypto sports betting works exactly the same way as traditional sports betting. The only difference between the two lies in the mode of payment. Crypto betting sites offer an additional payment method which includes cryptocurrency. Crypto betting is a kind of gambling where players bet on certain leagues or matches of various sports events. They place bets on the outcome of the matches and games in order to win money. The most commonly available cryptocurrencies in crypto betting are Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash and many more. Crypto sports betting offers a low cost and high-security environment compared to regular betting sites. Crypto sportsbooks offer the same kinds of sports as available on regular sites including football, rugby, cricket, tennis, hockey and many more.

Loosely speaking, there is no major difference between regular sports betting and crypto sports betting. The only difference lies in the type of transaction available on these two platforms. In the case of crypto sports betting, all the players need to do is sign up with the best betting website and transfer funds in crypto directly from their crypto wallet by connecting the betting website to the wallet account.

Deposit the initial crypto amount directly into the wallet using a preferred cryptocurrency and fiat currency and transfer it to the Sportsbook account where the players can place their bets. Moreover, there are certain sportsbooks that offer Live Betting which can sometimes be riskier than regular betting.

Players can also withdraw their winnings by converting their cryptocurrency into their chosen fiat currency based on the existing exchange rate in the market. Use any cryptocurrency supported by the betting site and continue betting safely.

Crypto sports betting continues to be relatively new to many players which leave them with certain complicated legal questions. The Crypto Gambling Foundation was developed to make sure transparency and fairness is offered to the players by promoting and verifying betting operators that follow strict ideologies of ethical practises. For most betting operators, the promotional opportunities of the foundation provide a strong incentive to comply.

Simultaneously, the US BTC betting as well as sports betting with other digital currencies such as Ethereum, Litecoin, Dogecoin and others, are legal only in Nevada, Delaware and New Jersey. This restriction is monitored and regulated by the UIGEA (Unlawful Internet Gambling Enforcement Act). Note that the 2006 legislation limits credit card companies and banks from allowing transactions for online betting and gambling in states where gambling is illegal. Nevertheless, due to the benefits of cryptocurrencies such as complete anonymity and privacy, many players keep joining and creating betting accounts in countries where crypto payments are allowed. However, the legalities of such a practice still remain unclear but the overall consensus is that crypto sports betting is acceptable given that the platforms are reputable in the casino and betting industry.

With crypto sports betting, players can buy and sell cryptocurrencies and bet on real and entertaining sports events of their choice without requiring any mediators or intermediaries. It is also possible for the players to use crypto betting on other sports events such as tennis matches, horse races and many more, which are massively popular in the cryptocurrency world. This has allowed people to bet on different sports events without having any financial restrictions.

Sports betting with crypto has a bright future and it is believed to become more and more popular in the upcoming years. Transactions made in cryptocurrency has substantially increased due to the booming crypto economy. Crypto betting is predicted to see gigantic growths and leaps in the future owing to the presence of billions of cryptocurrency users and multiple crypto sportsbooks that provide crypto wagering.

Various research and studies have shown that more than one-fourth of young adults within the age group 18 to 30 are more inclined towards trading and investing in cryptocurrency, while not all of them have the potential to actually lose money.

One of the reasons why cryptocurrency in the betting and gambling industry has become so popular among the youth is that they have turned to alternative investments (crypto) which they find simple to understand. Many of them do not have faith in traditional investment avenues and prefer to rely on their research instead of using insights from traditional organisations such as financial advisers.

Moreover, the crypto market is open 247365 days which means young people, who are working, do not have to waste their valuable time in crypto trading and investment. They can do so in their own free time. They have a positive outlook towards crypto and Blockchain technology and at the same time, they feel quite disconnected from traditional forms, as they find crypto more fun and entertaining, on the whole.

To sum up, various gambling bodies and institutions are not currently regulating cryptocurrencies, hence, bettors and operators can still expect a bright future in the crypto space. While most platforms fear interference from gambling authorities, others believe that the Blockchain ledgers will prevent gambling authorities from interfering in a crypto transaction. Betting sites have prepared themselves to adjust to new changes if they happen.

All in all, sportsbook platforms tend to feel quite confident about exploring the digital market as it guarantees stealth and privacy. Betting platforms offer the most incredible features of cryptocurrency and blockchain and they have transformed them into important tools for optimum sports betting experience in the digital world. Until and unless there are mandatory shutdowns and operations are forced to cease production, crypto bettors and operators can be at peace, knowing that the privacy design of the Blockchain is constantly protecting their assets as well as identity.

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What Will the Future Bring in the Crypto Sports Betting Industry? - TimesOfCasino

Agreement Calls for Two Retail Sportsbooks at Tulalip Resort Casino and Quil Ceda Creek Casino

BOSTON, Jan. 19, 2022 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) and the Tulalip Tribes of Washington today announced an exclusive market access partnership that will bring the DraftKings retail sportsbook experience to the state of Washington.

Plans are underway to open DraftKings retail sportsbook locations at Tulalip Resort Casino and Quil Ceda Creek Casino, both located just 30-minutes north of Seattle in Tulalip, WA. Initial design plans for the DraftKings Sportsbook at Tulalip Resort Casino, pending licensure and regulatory approvals, will feature a 5,000 square-foot space with a 50-foot video wall and more than two dozen kiosks and eight ticket windows. The design of the DraftKings Sportsbook at Quil Ceda Creek Casino is still early in the planning phase but is expected to feature state of the art technology and share the same world-class betting experience found across all DraftKings branded retail sportsbooks.

"As we get ready to open our sportsbooks, we are excited to announce our exclusive partnership with the best in the business, DraftKings, said Teri Gobin, Chairwoman, Tulalip Tribes. We're ready to take our gaming experience to the next level. Like Tulalip, DraftKings is committed to excellence and, together, we're going to give sports fans a one-of-a-kind experience. We can't wait for our customers to share our journey as we build the newest addition to our entertainment destinations."

Once operational, Washington will mark the 19th state in which DraftKings is live with its Sportsbook product.

Today marks an exciting day for DraftKings as we are set to expand our sports betting footprint to the great Pacific Northwest, said Michael Kibort, Sr. Director, Retail Sportsbooks at DraftKings. In collaboration with the Tulalip Tribes of Washington, we look forward to bringing the very best in real-money gaming experiences to a state with a passionate fanbase spanning major professional sports leagues.

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DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine and innovate through the DraftKings S.E.R.V.E.S. program, with a focus on Service, Equity, Responsible Gaming, Vitality, Entrepreneurship, and Sports. Responsible gaming is a key pillar of the DraftKings S.E.R.V.E.S. program and DraftKings collective mission is to protect consumers with groundbreaking technology, employee training, resources for customers, and the support of evidence-based research.

Fans can find the latest betting markets and more by downloading the DraftKings Sportsbook app available via iOS and Android here.

About DraftKingsDraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings Sportsbook is live with mobile and/or retail betting operations in the United States in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

About Tulalip Tribes of WashingtonThe Tulalip Tribes is a federally-recognized Indian tribe located on the Tulalip Reservation in the mid-Puget Sound area bordered on the east by Interstate 5 and the city of Marysville, Washington; on the south by the Snohomish River; on the north by the Fire Trail Road (140th); and on the west by the waters of Puget Sound. The Tulalip Reservation exterior boundaries enclose a land-base of 22,000 acres, more than 50 percent of which is in federal trust status. The Reservation is rich with natural resources: marine waters, tidelands, fresh water creeks and lakes, wetlands, forests and developable land. The Tulalip Reservation was reserved for the use and benefit of Indian tribes and bands signatory to the Treaty of Point Elliott of January 22, 1855. Its boundaries were established by the 1855 Treaty and by Executive Order of President U.S. Grant dated December 23, 1873. It was created to provide a permanent home for the Snohomish, Snoqualmie, Skagit, Suiattle, Samish and Stillaguamish Tribes and allied bands living in the region.

About Tulalip Resort CasinoAward-winning Tulalip Resort Casino is the most distinctive gaming, dining, meeting, entertainment and shopping destination in Washington state. The AAA Four-Diamond resorts world-class amenities have ensured its place on the Cond Nast Traveler Gold and Traveler Top 100 Resorts lists. The property includes 192,000 square feet of gaming excitement; a luxury hotel featuring 370 guest rooms and suites; 30,000 square feet of premier meeting, convention and wedding space; the full-service T Spa; and multiple dining venues. It also showcases the intimate Canoes Cabaret and a 3,000-seat amphitheater. Nearby, find the Hibulb Cultural Center and Natural History Preserve, Cabelas and 130 designer names at the Seattle Premium Outlets. The Resort Casino is conveniently located between Seattle and Vancouver, B.C. just off Interstate-5 at exit 200.

About Quil Ceda Creek CasinoOpened in February 2021, Quil Ceda Creek Casino is the newest major gaming, dining and entertainment destination in the Northwest. It spans 126,000 square-feet and is more than twice the size of the former Q casino property across the street. The new casino features 1,500 gaming machines and 16 table games; The Kitchen, an exciting new Food Hall experience with venues serving a variety of made-to-order dishes; The Landing, offering classic favorites on the menu for full-service, a la carte dining; The Stage, offering expanded entertainment offerings including live music, sports viewing on massive state-of-the art video walls, and other events; and a 1,000 stall, six-story parking structure with additional surface parking and charging stations for electric vehicles. Quil Ceda Creek Casino is situated on 15 acres of Tulalip Tribal land located directly off I-5 at exit 199.

DraftKings Forward-Looking StatementsCertain statements made in this release are forward looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words estimates, projected, expects, anticipates, forecasts, plans, intends, believes, seeks, may, will, should, future, propose and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contactsmedia@draftkings.com@DraftKingsNews

Dan Miller, Curator PR for Tulalip Resort Casino: 206.979.4055, dan.miller@curatorpr.com

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DraftKings and Tulalip Tribes of Washington Join Forces to Operate Sports Betting in the Evergreen State - Yahoo Finance

Jan 22, 2022; Cleveland, Ohio, USA; Cleveland Cavaliers forward Evan Mobley (right) drives to the basket against Oklahoma City Thunder forward Mamadi Diakite (left) during the first half at Rocket Mortgage FieldHouse. Mandatory Credit: Ken Blaze-USA TODAY Sports

The Cleveland Cavaliers are having a breakthrough season. Their opponent Monday night, the New York Knicks, know the feeling all too well that was them a year ago.

Fast forward a year, and the Knicks are fighting for their play-in lives, where they currently sit in 11th. The Cavaliers, meanwhile, are sitting above the fray in fifth in the East and rolling, having won six of their last seven.

Theyre a big 7.5-point favorite in this one, which tips off at 7pm ET at Rocket Mortgage Fieldhouse and can be seen live on NBA League Pass.

New Yorkers: heres your chance to place a bet, as mobile and online betting are now available in the Empire State.

Odds as of January 23rd at BetMGM

After their six-game losing streak was snapped at the hands of the Chicago Bulls, Cleveland got right back to winning Saturday night, putting the Oklahoma City Thunder in a vice in a 94-87 win.

Darius Garland led the way, scoring 23 points and dishing 11 assists, the fourth time in five games hes led the team in scoring. Books have noticed, as Garland ranks third in 2022 NBA Most Improved Player odds.

Big man Evan Mobley, the current betting favorite in the 2022 NBA Rookie of the Year odds, chipped in with 15 points and 17 rebounds. His twin-tower counterpart, Jarrett Allen also doubled-up, scoring 13 points and adding 14 boards.

Cleveland, ranked third in defensive rating in the NBA, held the Thunder to 38.8% shooting from the field, including a paltry 12-for-41 behind the arc, just a 29.3% clip.

They will be a little short-handed coming into this one, however, as forward Lauri Markkanen is out with an ankle injury, while the recently-acquired Rajon Rondo (hamstring) will be a game-time decision.

New York put an end to a three-game skid with a 110-102 win over the LA Clippers on Sunday.

RJ Barrett led the way with 28 points, 14 rebounds and six assists, while Julius Randle added 24 points, nine rebounds and five assists.

With the Knicks playing consecutive nights, its important to note both New York stars played 40+ minutes, and fatigue may play a factor Monday night.

New York does pretty well on the defensive end, holding teams to 104.5 points per game, good for 5th-best in the NBA, but its their offensive attack that may be worrisome. The Knicks score at a 104.1 clip, the fourth-worst rate in the league.

Theyll be going against a Cavaliers defense that has the second-best scoring defense, limiting teams to 102.5 points per night.

Another key battle will be in the paint, where the Knicks allow the second-fewest points, but where Cleveland scores at a top-10 rate, averaging a shade under 48 points per game.

Just like Cleveland, they may be down some key pieces, with big man Mitchell Robinson (ankle) and guard Kemba Walker (knee) game-time decisions for Monday.

This will be the second of three meetings between these teams on the year, with the Cavs thumping the Knicks 126-109 at MSG on November 7.

Hard to glean too much from that contest, as Clevelands leading scorer was Ricky Rubio (37 points), who is done for the year with a knee injury, as is Collin Sexton, who started at guard.

Mobley did have 26 points and nine boards, while Allen had 18 points and 17 boards. They held New York to 9-for-31 shooting from three.

Cleveland owns the best record against the spread in the NBA at 29-15-3, a sharp 65.9% cover rate. Theyre tied for the second-best ATS record as a home team at 14-7-1.

New Yorks 23-24 record is identical to their ATS mark, but surprisingly, theyve been a good bet in back-to-backs, sporting a 4-2 mark ATS when playing on zero days rest.

While Cleveland should win that spread is a little high. I think defense reigns supreme, with two of the top scoring defenses going head-to-head.

The pick: Under 207.5 points (-110)

NFL NBA Sports Writer & Editor

Having worked in and around sports since 1997, Eric is truly a knowledgeable expert. The two-time journalism grad specializes in all things NBA and NFL. From TSN.ca to CTV's Olympic Broadcast Consortium, Eric's work has appeared in local and national publications alike.

NFL NBA

Having worked in and around sports since 1997, Eric is truly a knowledgeable expert. The two-time journalism grad specializes in all things NBA and NFL. From TSN.ca to CTV's Olympic Broadcast Consortium, Eric's work has appeared in local and national publications alike.

Original post:

Knicks vs Cavaliers Odds and Picks - Sports Betting Dime