Category Archives: Sports Betting

Betting sports has been in Michigan for more than a year now. It has done a great job for the state of Michigan. State Senators Brandt Idens and Curtis Hertel Jr. are responsible for getting sports betting in Michigan.

Our last Governor Rick Snyder turned down sports betting in Michigan. That sure was unbelievable because of what it has done for our State and the areas where the money goes. There are sports betting in some of the casinos across our state but not all of them.

Where people are betting is on the multiple apps that people have on their phones and computers. There are just an unbelievable amount of these various apps like Bet MGM, Draft Kings, Gun Lake Casino.com and just a slew of these betting apps have emerged in our state.

Sports betting in Michigan has become a way of life and has been very profitable for the state. There are some people that still arent happy we have sports betting because they feel some people cant handle it and lose way too much money and turn into degenerate gamblers. But you have to be disciplined. Be smart. There is always the disclaimer: you must be 21 and in Michigangambling problemcall 1-800-GAMBLER or Michigan problem gambler helpline at 1-800-270-7117.

This is only going to get larger and larger. There are still many states that havent adopted sports betting yet and they should. The state of Alabama doesnt even have lotto or sports betting. That one is a head scratcher. Im glad Michigan finally has sports betting and after one year things are going to only look up.

Part of the allure of sports is the sense of tradition, and these Michigan traditions are something that fans look forward to every year.

There are just some sports records so amazing that it's unlikely any other athlete will even be able to approach them.

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Sports Betting in the State of Michigan: One Year Later - thegame730am.com

Limited to five retail sportsbooks, Maryland sports betting set a modest foundation in December.

Maryland bettors wagered$16.5 million in December 2021, according to a report from the Maryland Lottery and Gaming Control Agency. Sports betting in Maryland kicked off Dec. 9 when a retail sportsbook at MGM National Harbor opened.

Four more sportsbooks opened throughout the month. Maryland will continue to watch its retail sports betting market mature with mobile sports betting not likely to launch until at least late 2022.

The sportsbooks held nearly $3.2 million, or 19.2%. The state collected $469,297 based on the 15% tax rate on taxable win, which was $3.1 million.

The taxes head to the Blueprint for Marylands Future Fund.

We are truly excited that sports wagering is available, and were eager to do our part to keep the market growing, said MLGCA Director John Martin.

Following MGM National Harbors opening of BetMGM, two sportsbooks opened Dec. 10 at Live! Casino and Hotel and Horseshoe Casino.

The FanDuel Sportsbook at Live! Casino is already likely among the stronger retail sportsbooks in US sports betting, taking $7.1 million in bets. MGM National Harbor took nearly $6 million in bets.

Ocean Downs Casino opened on Dec. 17, while Hollywood Casino opened Dec. 23.

The five sportsbooks that opened were part of the 17 retail licenses allocated in MD sports betting legislation. There are another three sportsbooks waiting for their final approvals to open:

The MLGCA report said, additional facilities are expected to open in the near future.

Mobile sports betting, however, is at least still months away. The Sports Wagering Application Review Commission must first establish the standards and regulations of how to award the up to 30 retail and 60 mobile operator licenses. The Maryland legislature must also approve those standards.

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Maryland Sports Betting Turns In Modest First Revenue Report - Legal Sports Report

Illinois sports teams may not be on top of the world at the moment, but that hasnt mattered for the states sports betting industrys continued growth. Illinois shattered its revenue record in November with $779.8 million in total wagers generating $78.2 million in revenue, according to a report from the Illinois Gaming Board. The 10% hold rate reported in November was close to an all-time high for the state it had a 10.1% hold rate in June and July 2021 but it was the first time the state had surpassed $50 million in revenue. There are strong indicators that growth in the sports betting market in Illinois may not be done.

Illinois saw its handle decrease by about 7.2% from Octobers record-setting $840.4 million in total sports bets, but revenue increased by about 61.9% compared to $48.3 million in October. Year-over-year, Illinois saw its handle increase by about 72.9%, from $451 million in November 2020. Illinois also collected a record-high $12.7 million in tax receipts from sports betting thats almost twice the $6.6 million collected in taxes in November 2020.

Illinois is planning to suspend its current in-person registration requirement for sportsbooks in March, which would open the market to a wide range of people who dont currently have access. The added convenience of not needing to drive multiple hours to set up an account with a particular sportsbook will help boost further growth in the state.

The Illinois Gaming Board splits up its wagers into two tiers; tier one bets include wagers on final match results, including the spread or money line, while tier two bets include prop bets or the over/under. Tier one bets represented $466.4 million in total wagers, while Illinois generated $313.4 million in tier two bets in November.

Parlays were expectedly the most profitable type of wager for sportsbooks as over $44 million of Novembers revenue (56%) came from parlay bets. Bettors wagered over $166 million on parlays, and sportsbooks had an incredible 26.5% hold rate on those bets. Football was the most popular sport, accounting for over $21 million in revenue.

Despite the burdensome in-person registration requirement, online sports betting far outpaced retail sports betting in Illinois, and online betting revenue amounted to $74.3 million compared to about $4 million for retail revenue. DraftKings led the online market with a staggering $288.7 million handle (37% market share) and $21.9 million in revenue on a 7.6% hold rate. However, FanDuel outpaced DraftKings in terms of revenue as it generated $30.2 million in profit on the strength of a 14% hold rate.

As mentioned, Governor JB Pritzker has signed legislation that will allow the in-person registration requirement to end on March 5, which will likely foster further growth in the states sports betting market. In addition, that legislation allows individuals in Illinois to place wagers on in-state colleges, which is not currently available. The Chicago City Council also voted on December 10 to allow professional sports stadiums to launch their own sportsbooks the Chicago Cubs are ready to go, according to Chairman Rob Ricketts.

Its an exciting time for Illinois sports bettors, and we have you covered with the latest news and updates on which sportsbooks are available, and the best sign-up bonus offers in the market. Check out our official Illinois sports betting page for more information.

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Illinois Sets New Record with $78.2 Million in November Sports Betting Revenue - Lineups

Its bettor in the Big Apple.

New Yorkers placed their first legal online, in-state sports wagers Saturday morning, the first day mobile sports-betting was allowed in the Empire State.

One gambler was feeling lucky, plunking down $15 on a longshot, six-team, football parlay which will pay him $1,430.45 if he wins, DraftKings revealed in a tweet.

The bet was placed at 9:01 a.m., a minute after four casino operators Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive opened for action.

Another risky parlay was the first bet on the Caesars app, with a user betting $20 to win $233.16 on five European soccer games, the company said in a tweet.

On Rush Street, a pretty confident gambler placed $500 on Saturdays Chiefs-Broncos game, a company rep said.

And on FanDuel, at 9:01 a.m., the first bet placed was a $21 wager in the Cowboys-Eagles game.

No data was given out by the casinoson how much money was won or lost on sports in New York Saturday. The state Gaming Commission said it will release data on betting volume monthly.

There was at least one winner Saturday: former New York Rangers goalie Henrik Lundqvist, who signed on as an ambassador with Caesars Sportsbook.

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These are the first mobile sports bets placed in New York - New York Post

Dialing for Dollars: Mobile sports betting is now legal in 18 states with more to come in 2022.

Americans love to put a little action on their favorite sports team and states love the extra tax revenue from legal gambling. Currently, there are about 30 states where sports betting is now legal, including 18 that allow online sports wagering. This means more than 100 million Americans can place a legal wager where they live.

On Jan. 8, New York State will launch its much-anticipated mobile sports wagering program. Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive will launch what will become a $1 billion market (annual gross gaming revenue) and Ballys, BetMGM, Wynn Interactive, Resorts World and PointsBet are expected to enter the market soon.

The legalization of sports wagering has spread across the country since 2018, when the Supreme Court overturned the Professional and Amateur Sports Protection Act. PASPA had effectively made sports betting illegal except in Nevada and a few other states. After the ban was struck down, states have been allowed to legalize sports betting and launch their own programs. The industry has been on fire and growing rapidly. The market has grown from 19 states to 32 and Washington, D.C. in the last 12 months.

As legalization continues to spread across the country, more Americans are betting more money than ever before. According to the American Gaming Associations (AGA)Commercial Gaming Revenue Tracker, U.S. sports betting handle hit at $42.19 billion from January 2021 through October, almost doubled the amount wagers during the same time in 2020. Legal sportsbooks held more than $400 million in October 2021 alone, according to the AGA.

Maryland, Nebraska, Ohio, and Wisconsin are in the process of launching their programs. Florida legalized sports betting last year through a gambling compact with the states Seminole Tribea deal that was slated to bring $2.5 billion in tax revenue to Florida over five years. But a federal judge overturned the deal, ruling that the plan violated the states constitution and federal Indian gambling law. The tribe is appealing the ruling and the states mobile sports betting market is currently in limbo.

See the map below for where online and in-person sports betting is currently legal in the U.S.

The rest is here:

Where Is Sports Betting Legal? A Guide To All 50 States - Forbes

The year 2022 could be when sports betting is allowed at the Potawatomi Casino in Milwaukee.

Casino managers say they're pursuing an agreement with the state of Wisconsin.

Last year, Gov. Tony Evers approved deals to allow sports betting at two other tribal casinos in Wisconsin, including the Oneida Nation hall, just west of Green Bay.

The Oneida Casino has been around for nearly three decades, offering poker, slot machines, bingo and table games like 21.

On a recent weekday, hundreds of people wearing COVID masks gambled in the main rooms of the casino, as music played on the PA system.

Off in a corner there were a dozen electronic kiosks offering something new at the casino: sports betting, or what's sometimes called the sportsbook.

The Oneida's chief financial officer for gaming, Chad Fuss, described the options on the kiosk touchscreen.

"On the left-hand side, you have all your major league sports, all your collegiate sports. You can make a bet on the day of a game, or you can make a bet on what's called a futures pick. So, if you want to make a bet on who's going to win the Super Bowl in February, you can make that bet also," Fuss said.

As in Nevada, or the more than two dozen other states with legalized sports betting, there is usually a point spread, an over-under, or some other betting line that gamblers have to evaluate before placing their bet. Wagering on in-state Division I college games is not allowed at the Oneida casino, so you can't bet on the Wisconsin Badgers, Marquette or UWM basketball. The Oneida also generally does not take bets on Division III games.

Fuss said the kiosks do not accept credit cards but take cash. A ticket will come out that registers the bet, and if you later think you're a winner, you can take the ticket to a nearby Oneida cashier who will pay you.

If gamblers who made a bet on a current game want to watch how their team is doing, Fuss pointed toward a bank of televisions on the wall.

"On a typical Sunday, you probably see for the noon game, probably at least four games, and for the afternoon game, three or four games, so they're always watching a live game, based on the bet they've made," Fuss said.

The televised action may also spur gamblers to bet on additional contests.

WUWM mainly saw young men intently placing bets during our time near the kiosks. But Fuss said older men and women wager on sports, too.

Fuss politely declined our request to interview any of the gamblers, saying the Oneida protects the privacy of its customers.

Upstairs in his office, Fuss said sports has a big following in Wisconsin.

"We wanted to match or blend our sports fanatic with leisure gaming and really bring those two together, to give our customers and potential customers an even better experience," Fuss said.

Fuss said the Oneida casino also offers a highly ethical and closely regulated way to bet on sports. Of course, sports betting goes on often in Wisconsin think even of your office football or NCAA basketball pool. But for right now, the Oneida has the only legalized sports betting venue.

Evers recently signed another sports wagering deal with the St. Croix Chippewa, a plan currently under federal review.

Potawatomi Hotel and Casino CEO Dominic Ortiz recently told the Metropolitan Milwaukee Association of Commerce that he's interested in a new agreement too, in part to compete with sports betting in Illinois.

"We'll bring sports betting. We're going to challenge Chicago with the assets and the liveliness of the excitement we're going to bring to Potawatomi," Ortiz told MMAC members.

A casino spokesperson said the Potawatomi does not want guests to have to travel to place a sports bet.

Back in Green Bay, at the Wisconsin Council on Problem Gambling, executive director Rose Blozinski said her non-profit maintains a neutral stand on legalized gambling. But she says some people do go too far into sports betting.

"We see people who can maybe social gamble for a while, and then especially sports betting, it can maybe get out of control. They spend more money, gamble more often. We see people start to have financial problems, family, relationship problems, suicidal issues sometimes with compulsive gamblers, as well. So, these are things you always want to pay attention to," Blozinski said.

A few other tribal casinos in the U.S. have started offering sports betting since the federal government gave its OK four years ago. Some tribes say they're holding off while determining if creating a sports betting area will be more lucrative than offering other gaming.

But national studies show that a lot of money is bet on sports, perhaps billions of dollars.

The Oneida already sense more profits. They're building a 2,000 square foot sports betting lounge at their main casino and planning to let gamblers place sports bets using an app on their phone.

Original post:

Sports betting is now allowed at the Oneida Casino. Will it soon be approved for the Potawatomi Casino? - WUWM

How do sports betting odds workGetty Images

Betting odds have always lined newspapers, and now theyve started to become popularized in electronic applications, too, as the presence of mobile betting expands. Some formats of betting odds are different by country or by sport, and its important to have those betting odds explained so the best way to maximize money is understood.

But before you place your next bet, its important to understand how betting odds work and how to read them regardless of whether you wager online or in-person. The Post answers questions below thatll help you accomplish that.

Betting odds can be displayed in three distinct formats American, decimal and fractional and they signal a probability of the game, or teams, theyre connected to and how much an individual could win by selecting those odds.

For American odds, which are the default options at United States sportsbooks according to Action Network, theres a + or - symbol in front of a three-digit number. For decimal odds, theres a number rounded to two decimal places, like New York Yankees (5.40), that determines the amount that you wager is multiplied by to determine the winnings. And for fractional odds, which are perhaps most commonly seen during horse races, the numerator details the number of times the bookkeeper expects the result to fail while the denominator illustrates the number of times they expect the result to succeed. If its 8/5 odds for a race for Horse A against Horse B, that means Horse would be expected to lose eight out of the 13 outcomes while winning the other five.

With bets, they can be placed on either the favorite, known as the team projected to win, or the underdog, which is the team thats predicted to lose. The + sign in front of a number for example, +350 means that a bet has been placed on the underdog, and the three digits following that sign indicate the amount paid out if the bet wins and the bettor had wagered $100.

The - sign in front of a number indicates that a bet has been placed on the favorite, and the three digits that follow, similar to the bets on the underdog, signal how much someone would make if they bet $100.

The important factor to remember about bookmakers and odds they create is that everything happens with the central goal of making a profit in mind. If every possible bet that people could wager on is covered, the hope would be that the books eventually balance out between who won and who lost their bets. Odds are heavily influenced by statistical and analytical research too, considering past outcomes given certain opponents and situations.

For American odds, since outcomes are calculated based on a $100 bet. If, for example, the New York Giants are favored in their matchup against the Philadelphia Eagles with a -120 line, and someone were to bet $24, their payout is calculated when the 24 is multiplied by the $100 baseline bet and then divided by 120. This payout would be $20.

In bets for the underdog, though, the fraction is flipped. If the Giants were underdogs against the Eagles, with the line +120, that 120 would be multiplied by 24 and divided by 100 giving a payout of $28.80.

The method for calculating winnings for decimal and fractional odds is slightly different, though. If, given the Yankees example above, $50 is wagered on the 5.40 odds and the bet win, those two numbers multiplied together minus the original wager payment determines the winnings. In this example, that total is $220.

And for fractional odds, those winnings are calculated by taking the wagered amount and multiplying it by the fraction. If $25 was wagered for the horse racing example, the total winnings would be $40.

Continued here:

How to read and calculate sports betting odds - New York Post

Robert Linnehan | 6 days ago

Louisiana online sports betting has yet to launch, but the state has had a nice opening to sports betting since its October 31 launch.

According to Louisiana State Police Gaming Enforcements November revenue report, eight casinos accepted $27.6 million in sports bets from Oct. 31 through November. The net proceeds reported by casinos were nearly $5.7 million over that period of time.

The Louisiana State Police Gaming Enforcements report does not break down handle or revenue for each of the eight casinos that accepted retail sports bets over that time. However, it did note what types of bets were the most profitable for casinos.Casinos won the most money for sports bettors through parlays, reporting $3.7 million in net proceeds from parlay bets. Football bets accounted for the most profit for casinos out of the top four sports, netting $1.57 million.

The casinos paid $568,570 in taxes to Louisiana.

Here are the bet types that have been most profitable for the casinos:

The vast amount of revenue and handle will be collected when Louisiana launches online sports betting. Louisiana Gaming Control Board Chairman Ronnie Johns previously told Saturday Down South he hopes to have Louisiana online sports betting up and running before Super Bowl LVI on Feb. 13, 2022.

The gaming board chairman said the target date for Louisianas online sports betting launch will be for mid-January. Johns said he expects several sportsbooks to be licensed on the mid-month launch date.

The properties need to be inspected by the Louisiana State Police prior to receiving their online licenses. Additionally, internal controls need to be verified and compliance inquiries need to be made before licenses can be approved.

It all equals a mid-January launch if everything goes smoothly.

While Louisiana has missed out on most of the online sports betting revenue for this NFL season, Johns said its important for the state to have its online sports betting program launched prior to the Super Bowl.

So what will be available when online sports betting is launched? FanDuel and DraftKings both currently offer Daily Fantasy Sports contests in the state and will also be part of the online sports betting launch as well.

Caesars Entertainment has also been confirmed, as the sportsbook app is already available for download in Louisiana. Users cannot place bets as of yet, but can register and fund accounts.

Caesars will offer in-person sports betting at its properties Harrahs New Orleans and Horseshoe Bossier City. Each casino will soon take in-person bets at temporary retail locations, before the unveiling of their new Caesars Sportsbooks. In the fall of 2022, Isle of Capri Lake Charles will be renovated into Horseshoe Lake Charles and reopen with an additional Caesars Sportsbook location.

Additionally, Caesars acquired a 20-year, exclusive naming-rights partnership with the New Orleans Saints to rebrand New Orleans downtown stadium as the Caesars Superdome. Caesars Sportsbook is also the official sportsbook partner of LSU Athletics.

WynnBET will also be available in the state, as the company announced it secured online sports betting marketaccessthis past October. A source previously toldSaturday Down Souththat WynnBET has secured a partnership for its online sports betting app through one of Caesars physical casino properties in Louisiana.

WynnBET is currently available in Arizona, Colorado, Indian, Michigan, New Jersey, Tennessee and Virginia.

Its safe to assume the Barstool Sportsbook will also be available, as Penn National Gaming has partnered with two casinos that currently offer in-person sports betting. LAuberge Casino Baton Rouge and Boomtown Casino Hotel both offer in-person sports betting and are Penn National Gaming properties.

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Louisiana in-person sports betting has been a win so far - Saturday Down South

A parlay bet can be one of the most exciting ways to gamble. Its a great way to get better odds, and a thrilling way to win.

But before you bet parlays, you need to understand them.

The Post answers your questions on parlays.

A parlay bet allows you to add multiple selections into one bet. To win, all of the outcomes need to go your way, but you will get better odds, reflective of the combined odds of your selections.

To use an example from the NFL:

Baltimore -7.5 over Miami (-110.)

Jacksonville +10.5 over Indianapolis (-110.)

A standard parlay with two bets at -110 will pay out at +260 odds (or 13/5). So if you were to bet $100 on those two games in a single parlay, you would win $260.

As you add more teams to the parlay, your odds will continue to improve. A three-team parlay, all at -110, will generally pay out at 6/1. A four-team parlay will generally pay out at 10/1. Thats because the more outcomes you add to a parlay, the lower chance you have of it winning.

Better odds. If youre confident in your picks, then combining them can get you a larger payout. To use the Baltimore-Jacksonville example from before, betting $100 on those two games individually would net you $181.82 if you won both bets. On a parlay, youd win nearly $80 more.

If you feel strongly that the Ravens and Jaguars are in good shape going into Sunday, then thats an easy way to add to your potential payout. If youre less confident and want to protect yourself, though, you would want to bet them individually to protect yourself.

Theyre harder to win because multiple outcomes need to go your way.

Or, put more bluntly, theyre suckers bets.

Think of it this way. The implied odds of a -110 bet are 52.38 percent. The implied odds of two -110 bets are 27.43 percent. The implied odds of three are 14.37 percent. Obviously thats in a vacuum, but point being, it can be hard to predict multiple outcomes all correctly.

Parlays very often lose. Especially when you start adding more teams. Winning one is a thrill and if you can win them consistently, your bankroll will grow substantially but thats easier said than done.

Most online sportsbooks make it pretty easy to make a parlay. If you select multiple bets, an option for a parlay will usually show up in your betslip, which on most books is on the right-hand side of the screen. You also may see options for teasers, round robins or other kinds of bets.

Some books also offer live parlays, which you can do in-game. You can also do multi-sport parlays or, really, just about anything you want.

The sportsbook will usually show you the odds. There are also parlay calculators you can find on the internet. Calculating it manually is possible, but time-consuming and usually unnecessary.

Firstly, wed recommend checking the rules at your specific sportsbook. But generally, if one game is cancelled, the parlay will be reduced to the next number of teams. This also applies if a game ends in a tie or a push.

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What is a parlay? Examples and how to make a parlay bet on sports - New York Post

Massachusetts state Sen. Eric Lesser, co-chairman of the legislatures Joint Committee on Economic Development and Emerging Technologies, is now a candidate for lieutenant governor. And he intends to use the campaign trail to continue pushing for legalization of sports betting in the Bay State.

My hope is that we can get that done long before the campaign, Lesser told MassLive Tuesday, the same day he announced his candidacy. Keep in mind the election is 10, 11 months from now.

Lesser went on to call legal sports betting a prominent issue he will raise while campaigning.

Lessers committee has been exploring legal sports betting through hearings, meetings, and closed-door conversations for going on five years now. While Massachusetts home to sports betting and DFS titan DraftKings is now nearly surrounded by legal wagering states, politicians have been unable to get out of their own way and find a solution.

Many lawmakers and Gov. Charlie Baker are staunch supporters, but the nearly 20 sports betting-related bills that have been sitting in the hopper on Beacon Hill since last year are all over the map. Theres no consensus on the tax rate, whether to allow wagering on college sports,, and numerous other issues.

This has absolutely been a top-tier issue, Lesser said in a recent virtual meeting in December. Its been something many of us have been working on, on almost a daily basis. And there are very active conversations going on.

There were promises throughout 2021 about legalization, but after the House passed a budget bill that included legal sports betting, the issue languished in the Senate.

According to a discussion on WGBH, sports betting is a likely legislative priority this year, though the House and the Senate are two different chambers with very different ideas on myriad issues, statehouse reporter Mike Deehan said during a broadcast Wednesday.

I think sports betting is definitely something thats going to be coming up, he said. Thats something that the House really wants to do. The Senate seems to have no interest theyre kind of dragging their heels on what their plan for that would be.

You know, in all this time and all these hearings and process and it comes down to two chambers that might have radically different bills and different plans, and then they try to jam them together and come up with a compromise very late in the day, usually within days or hours of the end of their sessions. And thats where things tend to fall apart they put it off, and then the two chambers, both dominated by Democrats, just dont see eye to eye and cant make these compromises happen, increasingly.

That kind of process has failed in numerous states across the country. In the nearly four years since the Supreme Court overturned the Professional and Amateur Sports Protection Act in May 2018, the states that have been able to legalize are those in which lawmakers brought agreed-upon bills to their peers after education, discussion, and negotiation took place, whether in Connecticut or Colorado or Washington state. In the states where lawmakers play politics on chamber floors think Georgia or Kentucky or Maine proposals languish and ultimately die.

Since PASPA was overturned, four of Massachusetts five border states have legalized, including New York. But one stakeholder told Sports Handle that outside pressure to legalize does not appear to move the needle in the Massachusetts Senate. Its already clear that Massachusetts is losing revenue as bettors drive over the border to Connecticut, New Hampshire, and Rhode Island to place bets by phone.

New York, which will be the biggest state by population in the U.S. to offer mobile wagering, is aiming to launch operators ahead of the Feb. 13 Super Bowl.

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Once Again, Sports Betting Will Be Much Talked About Issue In Massachusetts - Sports Handle