Legalization of Sports Betting Being Discussed in California

It’s been over a year since the Supreme Court lifted the ban on sports betting which opened the option for states to legalize it. States around the country have been taking advantage of the new opportunity since the decision was made in 2018. California is the latest to begin talks on legalizing sports betting as state lawmakers held a preliminary hearing in regards to it.

A Man Stands in Front of a Sportsbook

The push for legalized sports betting was made by Senator Bill Dodd with added support from Assemblyman Adam Gray. In the past, Gray has made unsuccessful attempts to try to get an amendment made to the constitution which allows sports betting. That amendment would need to be passed before California can join the other states where sports betting is legal.

Native American Tribes Pushing for Sports Betting

A coalition of Native American tribes is also pushing for sports betting in California to become legalized. On the heels of Assemblyman Gray and Senator Dodd’s filing of the proposed bill, the coalition filed their own paperwork in favor of legalization.

In June of 2018, it looked like the political influence the tribes held would halt the proposed bill immediately. A case was brought against the state of California and Governor Jerry Brown regarding illegal card rooms that the tribes held exclusive rights over. However, several tribes are now supporting the initiative.

The Bill Has Mainstream Support

The Sacramento Kings of the NBA are among some of the top names in professional sports that are in strong support of the California bill being passed. People in the horse racing industry are also big proponents of enabling sports wagering in California. In the past, many sports leagues were in direct opposition to the legalization of sports betting citing that it would undermine the integrity of the games being played.

Now, as more and more states are legalizing sports betting, some sports leagues are in favor of the proposed changed with one caveat. They’ve suggested that “integrity fees” be added to the bill. In other words, they’re suggesting that any wagers become taxed. Still, having names like the Sacramento Kings backing the bill can only help the initiative as it moves forward.

Which States Have Legal Sports Betting?

Nevada is the most well-known gambling state in the U.S. and sports betting has been legal there for decades. Other states with legalized gambling include Oregon, Arkansas, Delaware, Indiana, Iowa, Mississippi, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, and West Virginia.

Several other states have either recently legalized sports betting or are very close to it. This includes Colorado, Maine, Montana, Tennessee, Michigan, New Hampshire, North Carolina, Illinois, and Washington D.C.

Legalized sports betting is growing but it will still take time and patience before it is seen in every state.

XFL Partners with Genius Sports to Launch Integrity Protection Program

The Xtreme Football League (XFL) is joining forces with Genius Sports to initiate an integrity program as a protection measure against potential game-fixing. Genius Sports is already a trusted partner to sports entities like the PGA TOUR and the English Premier League. The multi-year deal provides 24/7 monitoring through Genius Sports which enables the XFL to protect against any threats of improper or illegal betting-related conduct.

XFL Logo

Genius Sports will analyze significant odds movements and monitor betting markets giving the XFL a better understanding of the wagering on its games. This will help the league establish a method for determining potential problems and navigating them effectively.

Speaking with Insider Sport, president and COO of the XFL, Jeffrey Pollack, said:

Sports betting is growing rapidly in the U.S. and we are gearing up to be a good citizen and thoughtful participant in the marketplace. Our alliance with Genius Sports is an important first step and foundational element.”

As the XFL players take to the field for the first training camps in Houston, TX they’ll also be involved in integrity workshops setup by Genius Sports. During the proposed workshops the players along with coaches, game officials, and league executives will be educated through a customized e-learning portal. The portal will explain the misconduct regulations while highlighting the importance of keeping integrity intact through the growing phase of the XFL.

Work on the integrity program is already in its initial stages of development with full placement expected by the time the season starts in February.

What is the XFL?

The XFL is an American football league under the umbrella of Alpha Entertainment, a new entity founded by World Wrestling Entertainment (WWE) CEO Vince McMahon. This planned launch of the XFL is a reboot of the original launch in 2001, controlled at that time by the World Wrestling Federation (WWF) and the National Broadcasting Company (NBC) which only ran for a single season.

When is the XFL Re-Launch Planned?

The league is scheduled to begin in February 2020 with training camps already starting in Houston, TX.

How Many Teams Will Participate?

The league will have eight teams with 40-man rosters. The regular season will start with 10 games. Four teams will advance to the playoffs and then the title game will take place with the two final teams.

Where are the Teams Located?

The eight teams announced for the initial XFL roster include the DC Defenders, Los Angeles Wildcats, Tampa Bay Vipers, New York Guardians, Seattle Dragons, Houston Roughnecks, St. Louis Battle Hawks and Dallas Renegades. The only city that doesn’t have a current XFL team is St. Louis.

How is the XFL Different from the NFL?

According to Vince McMahon the XFL is going to be significantly different from the NFL in these specific ways:

  1. Games will be faster with more playtime.
  2. Politics won’t be involved.
  3. Any and every city will be on the league’s radar.
  4. No one will be allowed a criminal record.
  5. Eight teams will be involved.
  6. All teams will be owned by the XFL.
  7. A 10-week regular season schedule and a four-team playoff
  8. The league will have a 40-man roster (compared to 53-man rosters in the NFL).

Additionally, McMahon will not be the face of the league.

US Sports Betting Revenue in 2019 Reached Record Levels

The popularity of sports betting is surging around the United States right now. Today, a huge number of states have legalized this industry. New reports indicate that US sports betting revenue in 2019 hit record levels.Sports Betting

It’s incredible, especially considering how new this industry is in the US. Today, we’re going to look at which states are profiting the most from legal sports gambling. We’ll also discuss where this industry is headed in 2020.

Let’s get into it!

More States Continue to Legalize Sports Gambling

For many years, sports betting was almost completely unavailable in the US. Only Nevada, which set laws on this form of gambling decades ago, was legally able to offer sports gambling options. In May of 2018, this all changed.

That month, the US Supreme Court decided to strike down PASPA. This immediately gave every state in the country the ability to set its own laws on sports gambling. Several states almost immediately decided to legalize sports betting after PASPA was removed.

New Jersey instantly began earning money from this industry. Both land-based and online sports betting are available in this state. Many individuals from nearby New York would make the trip into New Jersey specifically to make sports wagers.

Today, 21 states have decided to legalize this form of gambling. Even states with harsh laws on gambling such as North Carolina have made sports betting legal. Lawmakers in these states recognize how much money can be earned with legal sports betting options.

Over the next few years, it’s likely that almost every state in the country will begin offering legal sports gambling options. There is simply too much money from this industry for states to ignore. US sports betting revenue in 2019 exploded and is likely to continue in 2020.

US Sports Betting Revenue in 2019 Reaches New Heights

It’s clear that sports gambling is growing more popular every single month. It’s also incredible to see so many states embracing this industry. This week, for example, New Hampshire officially legalized sports gambling.

2019 is now over, and revenue reports for the year are beginning to surface. According to some of these reports, US sports betting revenue in 2019 hit new levels. More than $11 billion was spent on sports wagers in the country. Overall, more than $15 billion has been placed on sports bets in the country.

In terms of actual revenue, licensed bookmakers in the country earned more than $750 million. During the summer months, there was an average of $700 million being wagered on sports. It’s an astounding statistic that shows just how fast the US market has grown.

Initially, US sportsbooks planned to retain around a 5% margin on all bets placed. In reality, this number was closer to 7%.

Things aren’t slowing down, either. We’re now less than two months away from the 2020 Super Bowl. Based on the way things are moving, this will be the most-wagered on sporting event of all time.

2020 Will Be a Massive Year for the US Sports Betting Industry

It’s great to see US sports betting revenue in 2019 increase so much. A huge number of European sports betting operators are now attempting to break into this market. Some, such as William Hill, are now available in several different states.

2020 will be an absolutely massive year for the US sports betting industry. Many more states are likely to legalize this industry. There’s even a chance that California decides to make sports gambling legal.

At the moment, California lawmakers are debating with Native American tribes over sports betting regulations. These tribes want to ensure that sports betting becomes legal inside their casinos. They also want to ensure that revenue from this industry goes into their hands.

Hopefully, California is able to make this industry legal. More states such as Maine and Massachusetts will almost certainly open their betting markets.

US sports betting revenue in 2019 increased dramatically. It seems highly likely that revenue will increase even more in 2020. Make sure to stay tuned for more US sports betting news over the next few months!

DraftKings is Going Public – Is it a Smart Decision?

DraftKings is one of the country’s biggest daily fantasy sports and sports gambling operators. Over the past few years, this company has gone through several major changes. This week, news reports began claiming that DraftKings is going public.DraftKings Logo

It’s surprising news. DraftKings is hugely popular, yet it’s struggled to turn a profit over the years. Today, we’re going to talk about whether or not the decision to go public is a good one.

Let’s get into it!

History of DraftKings

In the 2000s, several sports fans began to realize that daily fantasy sports could be offered throughout the US. Unlike sports betting, which is considered a game of chance, daily fantasy sports is technically a game of skill. That made it legal in almost every state, despite it acting as a form of sports wagering.

In 2009, FanDuel launched. In 2012, DraftKings officially began operating, as well. That same year, DraftKings company received millions of dollars in outside funding.

Over the next few years, DraftKings began to expand around the country. In 2013, it paid more than $50 million in winnings to players. It also claimed to have 50,000 active users.

By 2015, the company was valued at $250 million. Unfortunately, DraftKings began facing legal trouble in several states. New York famously banned the DFS operator, claiming that it violated the state’s constitution.

After PASPA was struck down in 2018, DraftKings began breaking into the traditional sports betting industry. Today, this company is offering sports betting odds in several states.

This week, news came out that DraftKings is going public. It’s a major gamble for the company. Will it pay off?

Here’s Why DraftKings is Going Public

The US sports betting industry has never been stronger. This is all thanks to PASPA being removed. Now, every state in the country has the ability to set its own laws on sports betting. 21 states have already legalized this popular form of gambling.

The US now has the hottest new sports betting market in the world. As a result, a huge number of companies are working to offer sports gambling options in different states. DraftKings is one of these companies.

In order for a company to break into this industry, it needs considerable funding. This is a major reason why DraftKings is going public. The company plans to merge with two different companies. Afterward, the combined companies are expected to have a market value of $3.3 billion.

DraftKings claims it will have more than $500 in unrestricted cash.

Jason Robbins, co-founder and CEO of DraftKings, will lead the merged companies. He commented on his plans to the media this week.

“The goal is really to be the only company in the world that is focused primarily on the U.S. market,” Mr. Robins said. 

Going Public is a Major Gamble For DraftKings

Anytime a company goes public, it’s a gamble. DraftKings is taking a slightly different approach than most do. Instead of an IPO, DraftKings is going public through its merger with a special purpose acquisition company.

Jason Robbins also spoke with Yahoo Finance about this decision.

“We had three objectives we were trying to solve for. First was, we wanted to complete the purchase of SB Tech, which required some cash,” he said. “Second is that we wanted to raise additional capital to pursue state launches for all these new states that are legalizing online sports betting. And third, we wanted to get public. And this allowed us to do all three in the same transaction. We’re going public at a time when the sports betting industry in the U.S. is hopefully at the very early stages of taking off, so it gives public investors a real opportunity to ride that growth.” 

That certainly makes sense. The only problem is that DraftKings has struggled to earn a profit over the years. Tough regulations on a state level have made things very difficult for the company.

If more states choose to legalize this industry, the decision will certainly pay off. Robbins believes this will be the case. If, somehow the government changes its stance, then going public may ultimately prove to be the wrong decision.

DraftKings is going public in early 2020. We’ll need to wait and see just how smart this decision is in the long-run.

Stay tuned for more US gambling news over the next few weeks!

New Sportsbook Space Opens at Rivers Casino in Illinois

Sportsbook Room Tv Screens

On Friday, the Rivers Casino in Des Plaines, Illinois, opened its first sportsbook. The problem is that the casino is still awaiting approval on the state to start accepting bets.

The BetRivers SportsBar opened a nearly 5,000-square foot space at the casino property on Friday near the main gambling floor. However, patrons will not be permitted to place bets at the venue until state regulators give them the green light to do so.

Awaiting Approval from Illinois Gaming Board

Rush Street Gaming and Churchill Downs Inc., the companies in charge of the casino property, are waiting for the Illinois Gaming Board to release new rules and regulations regarding sports betting. The companies are also waiting for the board to start releasing sports betting licenses, which will cost $10 million to obtain. We could see all of this happen after the board’s next meeting, which is scheduled for Thursday, December 19.

The sparkling new sports bar features a massive 47-foot ultra LED video wall with an adjustable screen that can display as many as 27 different sporting events at the same time. There are 14 additional televisions situated throughout the lounge with 32 leather lounge seats and a full-service bar. More than 24 bar seats have their own gambling touch screens, as well. There are 10 86-inch televisions and 4 more 75-inch screens lining the walls.

The new bar occupies the space that formerly housed the Cube nightclub and special events lounge. Casino officials wanted the bar to be ready before regulators issued the updated rules and regulations. Casino officials released renderings of the bar, but photographs are prohibited as of now due to the gaming board’s rules.

There is extra space for 5 betting windows with a separate betting kiosk. Walls on both sides of the bar have been equipped with the proper wiring for the odds boards to be turned on once officials grant the casino the right to start offering sports bets.

Customers Eager for Sports Betting

Corey Wise, the general manager of Rivers Casino, told the Daily Herald, “We want to be prepared and primed once we know what the Illinois regulatory requirements are. We’re ready to go once the state is ready to go.”

Customers are chomping at the bit to be able to place bets in the sparkling new lounge. Wise added that someone played the first slot in the new space less than a minute after it opened for the first time. Another patron inquired about when sports betting will be available shortly thereafter.

In November, Rivers Casino became the first in Illinois to be granted approval from the state’s gaming board to offer land-based gambling. Rivers subsequently installed 115 slot machines throughout the site. The casino, which opened its doors for the first time in 2011 as a riverboat. However, Illinois subsequently struck down the water requirement, which opened up the possibility for 6 new casinos across the state.

There are currently plans to install more slots at the property near the main entrance. The updated law gives Rivers the opportunity to add more slots and table games, and plans to expand the building are currently in development. Wise said it’s still too early to say how large the potential expansion would be, or even where on the existing space it would be located.

However, construction has already gotten underway to add another 750 parking spaces in a new 1,550-space parking garage expansion adjacent to the property. That expansion will cost about $24 million and is due to be completed sometime in the summer of 2020.

Illinois voted to approve the legalization and regulation of sports betting back in June.

FanDuel Agrees to Sponsor 2 Pennsylvania Sportsbooks

FanDuel Logo

Cordish Companies has tapped FanDuel as its sports betting partner for the pair of Live! casino properties in Pennsylvania. Both casino properties are currently under construction with plans to open their doors for the first time sometime next year.

The deal with FanDuel will bring both sports betting and daily fantasy sports experiences to the brand-new casinos. One Live! Casino & Hotel is slated to open in Philadelphia, with the other in Westmoreland County.

The partnership is also designed so that both parties can explore potential expansion into other states in which sports betting is legal. The two already have plans to do business together in Maryland and Washington DC, and further expansion is expected as sports betting becomes legal in more and more states in the months and years to come.

FanDuel’s Pennsylvania Dominance

FanDuel entered the Pennsylvania sports betting market for the first time last spring when the company launched a land-based sportsbook at the Valley Forge Casino Resort in King of Prussia. FanDuel’s mobile sports betting app went online in Pennsylvania in July.

The popularity of sports betting in the Keystone State has predictably gained steam over the last few months. The state’s sports betting handle was up by about 24 percent in the month of October with about $241 million in revenue. Further growth was expected in November, though the official numbers have yet to be released to the public.

FanDuel dominated the online space. The daily fantasy sports giant accounted for just under $114 million in online revenue in October, which blew every other service out of the water. Rivers Philadelphia generated about $30 million in online handle, which ranked second in Pennsylvania. Rivers Pittsburgh was at $26.6 million, while Parx ($18.4 million) and FOX Bet ($9.7 million) rounded out the list.

Statements

Joseph Weinberg, Principal of The Cordish Companies, said that the opportunity to partner with FanDuel will “bring our customers the premier sports betting experience in the country.”

Matt King, the CEO of FanDuel Group, issued a statement that said, “With ten decades of experience, The Cordish Companies have created the model for world-class integrated sports, gaming, entertainment, and hospitality destinations” and that this new partnership allows his company to “capitalize on the incredible success of sports betting to date and bring FanDuel’s top sports betting operations to Cordish destinations across the United States.”

Property Details

The Cordish Companies recently hosted a topping off ceremony at the Live! Casino & Hotel property in Philadelphia that is currently under construction. The venue is situated near most of the city’s major professional sports venues, including the Prudential Center (Flyers, 76ers), Citizens Bank Park (Phillies) and Lincoln Financial Field (Eagles).

This was a desired location for the casino considering all 4 teams combine to bring out about 8.5 million fans on an annual basis. The casino will surely benefit from that hefty foot traffic. Live! Hotel & Casino Philadelphia will include over 1.5 million square feet of gaming space, and the casino will feature over 2,200 slot machines and 150 table games. The FanDuel Sportsbook will be situated near the 12-story hotel with a number of food and beverage locations, as well. A new parking facility will accompany the structure, as well.

The Cordish Companies’ casino property in Westmoreland County officially broke ground in November. The Live! Casino will cost about $150 million to build, and it will be located right next to the Westmoreland Mall near Hempfield Township. That space occupies 1.3 million square feet. In addition to around 750 slots and 30 table games, this property will feature a FanDuel Sportsbook of its own with several dining outlets and entertainment venues.

No official opening date has been set for either property, but it is believed that the Philadelphia casino will be the first to open.

Sports Betting at Seneca Buffalo Creek Casino is Finally Here!

New York officially legalized sports betting earlier this year. In July, the first legal sports wagers were placed here inside Rivers Casino. Sports betting at Seneca Buffalo Creek Casino is now up and running, too!

Flag Of New York

It’s great news for sports fans in the Buffalo area. Today, we’re going to look at why it took so long for this casino to launch its sportsbook. We’ll also look at how the sports gambling industry is performing in New York right now.

Let’s get into it!

New York Continues to Expand its Sports Gambling Operations

Prior to the Supreme Court striking down PASPA, not may predicted that New York would ever legalize sports betting. In fact, lawmakers here seemed determined to shut down any forms of sports wagering here. Even daily fantasy sports was prohibited in this state!

New York was one of the few states to ban offshore online sportsbooks, as well. Most states without a regulated sports betting market simple turn their heads away from the betting sites based overseas. New York was active in banning them.

Once PASPA was removed, lawmakers here seemed to change their tune. New Jersey allowed sports betting and was earning millions of dollars a month from the industry. It was so popular in this state that many New Yorkers were crossing the border into New Jersey to place sports bets.

Now, sports betting is completely legal throughout the state. Most of the casinos here, the majority of which are located in the upstate area, offer sports gambling options.

There was even an attempt to make online sports betting legal in New York. Unfortunately, the bill was stalled in mid-2019. Hope is that it’s resumed again in 2020.

This week, one of the most popular gambling venues in the upstate area officially launched its sportsbook.

Sports Betting at Seneca Buffalo Creek Casino is Now Available

Buffalo is known for having one of the most passionate sporting fan bases in the country. Bills fans regularly make headlines for their antics. Unfortunately, there were very few options to make sports bets in this area.

That is no longer the case. This week, sports betting at Seneca Buffalo Creek Casino is becoming available. This signals a larger move for Seneca Gaming Corporation to break into the lucrative sports gambling market.

Seneca Buffalo Creek Casino is the first of the company’s three regional properties to open a sportsbook. Rickey Armstrong Jr, president of the Seneca Nation of Indians, is set to make the first legal sports wager in the casino today.

That’s not all. Soon, sports betting will become available at both the Seneca Niagara Resort & Casino in Niagara Falls and Seneca Allegany Resort & Casino in Salamanca.

All traditional forms of sports gambling are set to become available in this gambling venues. This includes betting on the NFL, NHL, NBA, and even collegiate sports. If you’re in Buffalo, make sure to check out the new sportsbook operating here!

NY’s Sports Gambling Revenue Drops in November

New York isn’t home to the most lucrative sports betting market in the country. That’s surprising to some, considering the state’s massive population. For several reasons, this industry just hasn’t taken off here.

In November, sports betting revenue in this state dropped by nearly 41%. New York State Gaming Commission (NYSGC) officially revealed November’s revenue earnings this week.

New York’s four commercial sportsbooks generated $1.3m in gross gaming revenue in November. This represents a 40.9% revenue drop from the month of October.

Rivers Casino in Schenectady was the most successful casino in terms of sports betting. Resorts World Catskills in Monticello came second, generating $549,230 in sports gambling revenue.

Sports betting at Seneca Buffalo Creek Casino is finally here. Hopefully, this venue manages to generate more money than the other casinos in the state.

Stay tuned for more US casino news over the next few months!

Jennifer Roberts is Entering Tennessee’s Gambling Industry

The rise of sports betting can be seen around the entire country. Tennessee officially legalized this form of gambling in May of 2019. This week, news broke that Jennifer Roberts has been hired to help oversee Tennessee’s gambling industry.

Flag Of Tennessee

Roberts has a long history of gaming regulation in Nevada. She’ll be a welcome addition to Tennessee’s newly emerging sports betting market.

Let’s take a quick look at this state’s decision to expand its gambling industry.

More States Are Now Embracing Sports Betting

Hopefully, by now, you’ve heard about the surge of sports betting legalization across the country. This is all due to the US Supreme Court’s decision to strike down PASPA. With that set of laws now gone, every state in the country has the ability to legalize sports gambling.

Unsurprisingly, many states have already chosen to do so. Officials around the country recognize how much money can be earned via taxes from the sports betting industry. As of December 2nd, 2019, 20 states have approved sports betting legislation.

13 of these states now have sports betting operations up and running. Some of them allow for both online and land-based sports wagering. Others only allow sports bets to be made in-person. The states with online gambling are earning considerably more money than those without.

As we mentioned earlier, lawmakers in Tennessee approved a sports gambling bill in May of 2019. Sports gambling is now legal in the state. Before any sportsbooks open, however, the state government must agree to regulation plans and grant licenses to sports betting operators.

It’s clear that officials in this state are taking gambling regulations seriously. Reports are surfacing that one of Nevada’s top gambling regulators is officially making the move into Tennessee’s sports gambling industry.

Jennifer Roberts Announces Move Into Tennessee’s Gambling Industry

Nevada is home to many of the country’s best gambling regulators. With the spread of sports betting around the country, many of these regulators have recently moved into other states. According to the Las Vegas Review-Journal, Jennifer Roberts has accepted a deal to begin working in Tennessee.

The state has officially hired Mrs. Roberts to become the director of sports gaming regulation for the Tennessee Education Lottery Corporation. She’ll certainly have her work cut out. Tennessee is the only state that only allows for online sports gambling. No land-based sportsbooks will open here.

Fortunately, Roberts seems excited about her new role in Tennessee’s gambling industry. She commented to the media this week about the new move.

“It’s setting up the structure for regulation, issuing licenses and getting it launched,” she said. “I’m looking forward to seeing it executed and watching it develop.”

This is great news for the state of Tennessee. Sports betting is still very new here. The guidance of one of Nevada’s top gambling regulators will certainly make things easier.

Sports Betting Competition Grows in the South

The southern states in the US aren’t typically thought of as the most gambling-friendly in the state. Many states in this region ban most forms of gambling. Interestingly, many of them have recently decided to embrace the sports betting industry.

Mississippi was the first southern state to officially legalize sports betting. The first sports wagers were placed here in August of 2018. As of now, only land-based sports betting is available here.

Arkansas was next. Lawmakers here approved a sports gambling bill in early 2019. On July 9th, the first sports bet was placed here at the Oaklawn Racing Casino Resort.

North Carolina has also approved sports gambling legislation. This new bill allows for college and professional sports betting. As of now, these wagers are only being allowed in two retail locations. Officials are trying to decide whether or not to allow statewide sports betting.

Tennessee’s gambling industry will grow significantly with the help of sports betting. It may be a few months before the sportsbook officially begins operating here. Hopefully, Jennifer Roberts helps the regulatory process flow a little smoother.

Stay tuned for more US sports betting news over the next few months!

Sports Betting Revenue in Rhode Island Dropped Last Month

Lawmakers in Rhode Island legalized sports gambling back in 2018. It’s proving to be a good decision, helping to bring the state millions in additional revenue every month. Unfortunately, sports betting revenue in Rhode Island dropped slightly in October.Flag Of Rhode Island

This isn’t concerning, though. The sports betting industry in this state is still extremely strong. Let’s take a quick look at how much revenue dropped here last month!

Rhode Island’s Road to Sports Betting Legalization

With a population of just over one million people, Rhode Island isn’t typically thought of as a gambling hub. In recent years, however, this state has developed a sizable gambling industry thanks to a rising number of casinos and sports gambling options.

For years, PASPA prevented any states from legalizing sports betting. In May of 2018, this all changed. The US Supreme Court removed PASPA that month, giving every state the ability to legalize this form of gambling.

Before long, several states opened up their sports gambling industries. Many more are likely to do so over the next few years.

Lawmakers in Rhode Island officially legalized sports betting in 2018. Initially, lawmakers only allowed in-person wagering inside casinos. Recently, laws were changed once again to allow for online and mobile sports betting.

It’s been very successful. Officials here are happy with the money being brought in from this industry. New reports indicate that revenue earnings dropped in October.

Sports Betting Revenue in Rhode Island Dropped in October

In September, revenue from the sports betting industry in Rhode Island reached an all-time high. Many predicted that revenue would continue to increase for the rest of the year. Now, it appears that these predictions were wrong.

Bettors here wagered more than $28.3 million last month. That’s an increase from the previous record of $23.6 million. Sports betting operators took in a combined $2.5 million in revenue.

After payouts to players, sports betting revenue in Rhode Island actually fell by 2.3% compared to September’s revenue.

Online sports betting revenue increased by an astounding 78%. It’s been just over a month since online sports gambling was legalized here.

The state continues to generate millions from the sports betting industry. Despite the slight revenue drop, lawmakers here must still be happy with the earnings.

More States Are Ready to Legalize Sports Gambling

Some states, including New Jersey and Pennsylvania, are earning an incredible amount of money from their regulated sports gambling markets. Officials in many other states are now interested in legalizing this industry.

Maine, for example, has recently introduced a bill to make sports betting legal. The state’s governor vetoed the bill, yet there’s still a chance that it gets approved in 2020.

California may also decide to legalize sports betting in the near future. Voters here will soon decide whether or not to amend the state constitution to make this form of gambling legal.

It’s a great time to be a sports fan in the United States. Soon, it’s likely that almost every state in the country will have a regulated sports gambling market.

Stay tuned for more US gambling news over the next few months!

Atlantic City Wants a Piece of NJ’s Sports Betting Revenue

New Jersey has one of the most lucrative sports betting markets in the country. Recently, the Mayor of Atlantic City called for a cut of NJ’s sports betting revenue. It’s here that most sports betting operations take place, after all.

Mayor Marty Small Sr

Sports betting is extremely popular in New Jersey. It’s helping to bring the state millions of dollars every single month. Let’s look at what exactly Atlantic City is now asking for.

Sports Betting in New Jersey Continues to Grow

New Jersey was instrumental in getting the US Supreme Court to strike down PASPA. Lawmakers here accomplished this goal in May of 2018, and shortly after officially approved a bill to legalize both online and land-based sports betting. Before long, every casino in Atlantic City began operating a land-based sportsbook.

These casinos also teamed up with major online sports betting companies to operate their internet sports betting platforms. Now, all Atlantic City casinos have an online sportsbook, too. Over the past year and a half, NJ’s sports betting revenue has increased dramatically.

In fact, for almost all of 2019, sports betting revenue has increased in this state. Certain gambling venues are known to generate more sports gambling winnings. Resorts Atlantic City is well-known for earning the most betting revenue in the city.

Not long ago, New Jersey earned more sports betting revenue than Nevada. It was the first time in history that this happened.

The state is certainly happy with these revenue earnings. Officials within Atlantic City now want their piece of the pie.

Mayor Marty Small Sr. Wants a Cut of NJ’s Sports Betting Revenue

As of now, New Jersey has earned more than $33 million through taxes on the state’s sports betting industry. That’s an impressive figure considering how new this industry really is. Now, the Mayor of Atlantic City is requesting a piece of this revenue.

Mayor Marty Small Sr. has officially asked for a direct cut of NJ’s sports betting revenue. He claims that Atlantic City played a major part in the success of this industry. He wants to see Atlantic City given more power to control the money earned from regulated sports gambling.

“In 14 months, New Jersey has overtaken Las Vegas as the No. 1 sports betting destination, and a lot of it has to with the success of Atlantic City and online,” Marty Small Sr. said. “But we don’t get one penny. … That’s unacceptable.”

The mayor wants to see this sports betting revenue used for property tax relief.

“My first, and foremost goal, as it was as council president and will continue to be as mayor, is more rateables for the city and more revenue streams to offset our taxes,” he said. 

This is certainly a reasonable request. Atlantic City is no stranger to economic hard times. Better control over NJ’s sports betting revenue would help this city in a major way.

September Proves Massively Successful for NJ Sports Betting Operators

It’s no secret that sports betting revenue has been steadily increasing in this city. This is particularly true now that the 2019/2020 NFL season is in full swing. September proved to be the most successful month for the state’s sports betting operators in history.

According to multiple reports, gamblers in the state wagered more than $445 million on sports in September. It’s the most money ever wagered in this state.

Online sports wagers brought in $41.1 million for casinos in September.

James Plousis, chairman of the New Jersey Casino Control Commission, recently commented on this revenue increase to the media.

“While operators continue to face strong competition for gaming and leisure customers, the increase in total gaming revenue shows the industry has grown for the betterment of both Atlantic City and New Jersey as a whole,” he said.

Mayor Marty Small Sr. is pleading his case. We’ll need to wait and see whether or not lawmakers decide to grant Atlantic City a larger share of NJ’s sports betting revenue.

Stay tuned for more updates over the next few months!