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Casino, Massachusetts, Online Gambling, Sports, Sports Betting

Massachusetts House to Debate Sports Betting Bill on Thursday

By Brian Walker

Two Laptops Showing Sports in Front of a Pile of Money

The Massachusetts House is getting ready for a debate on the legislation that would legalize sports betting in the state.

According to a memo sent by the office of House Speaker Ronald Mariano to the House of Representatives, legislators were told to prepare for a debate at Thursday’s formal session on the revised version of Rep. Dan Cahill’s sports betting bill.

Cahill’s bill was redrafted by the Committee on Economic Development and Emerging Technologies and favorably reported out by the committee over the weekend. It could still be edited by the House Ways and Means Committee before it hits the debating floor on Thursday.

In-Person and Mobile Sports Betting

Under the 38-page bill reported by the committee, legal sports betting in Massachusetts would be regulated by the Massachusetts Gaming Commission with casinos, slot parlors, simulcasting facilities, and horse racing tracks in the state allowed to apply for licenses to accept in-person sports wagering.

Operators will be allowed between one to three mobile sports betting platforms. Those who wish to offer mobile-only sports betting are also welcome to apply for licenses and all bettors must be at least 21 years old and physically present in Massachusetts to make place a legal bet.

Entities who wish to apply for a sports betting license will be required to pay an application fee of $100,000. Approved applicants will pay an initial $5M in initial fee for the license and another $5M to renew after five years. The first time fee will be reduced to $4M for companies which paid $1M for a temporary license to start taking bets while their request is pending with the commission.

Details of Massachusetts Sports Betting Bill

Bets on professional and collegiate sports contests would be allowed. However, wagers on the individual performances of college sports athletes are not permitted. The provision to allow bets on college sports has been a recurring theme in the three years that lawmakers have been discussing sports betting.

Although fantasy sports isn’t covered by the legislation, it also permits legal bets on motor race events, e-sports, competitive video games, and any other sporting event that is approved by the Massachusetts Gaming Commission.

Mobile bets will be charged 15% under the bill while in-person wagers will be taxed at 12.5%. An additional 1% tax would be levied for bets made on events in Massachusetts and this additional fee will be distributed proportionately between the facilities that hosted the said events to be utilized for “sports wagering security and integrity.”

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Florida, Gambling Laws, Sports, Sports Betting

Magic City Casino Owners Challenge Florida Gambling Compact With Seminole Tribe

By Brian Walker

Florida State Seal With a Casino Background

Florida’s gaming compact with the Seminole tribe has been challenged by a federal lawsuit from the owners of Magic City Casino.

The lawsuit alleges that the sports betting component in the compact is based on legal fiction and that it violates the federal law.

It was filed last Friday at the U.S. District Court or the Northern District of Florida by the Havenick family owned Southwest Parimutuels. It argues that the agreement authorizing sports betting outside Florida’s tribal lands is in violation of the Indian Gaming Regulatory Act and asks the Court to stop the implementation of sports betting.

Said Isadore Havenick, vice president for public affairs of Southwest Parimutuels:

“While we are fully supportive of Gov. DeSantis and his work to secure a new Seminole Compact, the lawsuit focuses on a very narrow aspect of the Compact — the legality of off-reservation and online sports wagering.’’

The company claims that it stands to lose “millions” in revenues if Florida residents are allowed to make sports bets from their homes using the internet or mobile apps. It adds that this will significantly or even completely hinder their ability to compete with the tribe.

Online Bets on Sports Events

The compact, signed by Gov. Ron DeSantis and Seminole Tribe chairman Marcellus Osceola Jr. last May, would allow online bets on sports events using the internet or web applications from anywhere withing Florida beginning October 5th. All transactions however, would have to go through servers located on tribal lands to bypass both federal and state law which prohibit sports betting in Florida.

It also allows sports bets to be placed at six of the tribe’s reservations but also permits the state’s existing race tracks an jai alai frontons to develop their own mobile apps to conduct off-reservation bets if they are picked by the Tribe as its partners. Under this agreement, the parimutuel would get 60% of the bets’ proceeds while the tribe will receive the remaining 40%.

Bets “Deemed” to Bet Placed on Tribal Land

The main issue is the provision in the compact that says that a bet is “deemed” to be placed on tribal land just because of the location of the operator’s server. The lawsuit argues that this violates the Indian Gaming Regulatory Act, the Wire Act, the Unlawful Internet Gambling Enforcement Act, and other court decisions interpreting those mentioned laws.

In its 67-page complaint, Southwest Parimutuels argues that “contrary to the fiction that the 2021 Compact and Implementing Law, a bet is placed both where the bettor and the casino are located”. It also claims that such a compact between the state and Tribe can only “occur on Indian lands”. Furthermore, it says that the deal clearly allows bets to be placed outside tribal lands.

Pending Federal Review

The deal is currently awaiting approval from the U.S . Department of Interior which has 45-days to decide after the compact is submitted. A representative from the office of the governor said that it was mailed to the approving authority last June 3rd, although the lawsuit states that it was presented to the DOI on June 21st.

The tribe is also threatened by a constitutional amendment for the 2022 ballot which would authorize online sports betting at all Florida parimutuels, professional sports stadiums, and anywhere else in the state using a mobile sports betting platform. This was proposed by FanDuel and DraftKings.

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Sports, Sports Betting

BetMGM Inks Deal to Become LPGA’s Official Betting Partner

By Brian Walker

MGM Resorts Lawsuit
Almost three years after the U.S. Supreme Court struck down the 1992 Professional and Amateur Sports Protection Act, the LPGA has entered the gambling space.

On Wednesday, the tour announced a multi-year agreement with BetMGM to become its Official Betting Operator and Partner. LPGA senior vice president of global media distribution Brian Carroll said in a statement:

“As a leading sports and entertainment company and already a supporter of women’s golf, BetMGM is uniquely positioned to join the LPGA family as an Official Betting Operator. Sports betting and digital gaming are key elements of the future of sports, and BetMGM is on the forefront of both opportunities. We are happy to partner with them as we look to provide more opportunities for our fans to interact with the LPGA and learn about our incredible athletes.”

Engaging the LPGA Fanbase With BetMGM Products

As part of the agreement, BetMGM will feature LPGA betting odds in the online sportsbook’s betting menu alongside the PGA Tour, European Tour, and other global golfing events. Likewise, BetMGM will be given exclusive access to use the Official Tour Partner logo in connection with its advertising and promotion of their online sports betting products and services.

BetMGM chief revenue officer Matt Prevost said that his company looks forward to engaging the LPGA fanbase with its market-leading products. According to Prevost, BetMGM’s advanced betting technology will give LPGA fans a user-friendly experience and multiple betting options to choose from.

MGM Resorts’ Commitment to Golf

Through its partnership with MGM Resorts, BetMGM also has access to existing sponsorship relationships with some of the world’s best athletes who are in the LPGA. Existing MGM Ambassadors in the LPGA include Natalie Gulbis, Danielle Cang, Cristie Kerr, Alison Lee, Anna Nordqvist, and Michelle Wie West.

Earlier this year, MGM Resorts also partnered with the LPGA Tour for the latter’s first match play event since 2017- the Bank of Hope LPGA Match-Play Hosted by Shadow Creek. With the latest betting partnership with the women’s professional golf tour, MGM Resorts’ commitment to golf has been further strengthened.

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Las Vegas, Online Gambling, Sports, Sports Betting

Wynn Online Sports Betting Business Going Public Via SPAC Merger

By Brian Walker

Wynn Las Vegas

Wynn Resorts Ltd.’s online sports betting business is going public by merging with a special purpose acquisition company.

According to a press release from Wynn Resorts on Monday, the company is merging Wynn interactive division with Austerlitz Acquisition Corp.I, a blank-check company established by title-insurance magnate William P. Foley II. The transaction is expected to close by the end of the year.

The new entity will trade on the Nasdaq Stock Market under the name Wynn Interactive Ltd., with the trading symbol WBET.

Said Wynn Chief Executive Officer Matt Maddox in a statement:

“We are confident that this transaction will unlock the tremendous potential of Wynn Interactive to further accelerate growth and enable the business to capture the massive opportunity in North America.”

Online Projections

Wynn Interactive projected an online revenue of $708M for 2023, based on a 5% to 7% share of the U.S. market. The company’s current annual run rate is $100M per executives during a conference call for investors. Wynn Resorts shares gained as much as 3.1% to $129.67 in after-hours trading. They were up 11% this year through the close of Monday transactions in New York.

The Wynn merger follows the route that other big gaming companies have undertaken in recent times. DraftKings Inc., Golden Nugget Online Gambling Inc., and Rush Street Interactive have gone public after merging with a SPAC company. The deal is expected to fetch $640M in cash for Wynn Resorts.

About the Companies

Wynn Interactive is currently operating via WynnBet in six U.S states: New Jersey, Colorado, Michigan, Virginia, Indiana, Indiana, and Tennessee. The company says that it has market access opportunities in a total of 15 states that covers an estimated 15% of the United States population.

Austerlitz is one of six blank check companies founded by Foley through his Cannae Holdings and has reportedly created more than $140B in value. Foley, whose net worth was listed by Forbes at $1.9B, has holdings in the Las Vegas Golden Knights of the NHL, Fidelity National Financial, and software provider Black Knight.

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Online Gambling, Sports, Sports Betting, US Legislation

Wyoming Online Sports Betting Bill Voted Down by Legislators

By Brian Walker

Person Browsing a Sports Betting Site on a Tablet
The Wyoming House of Representatives rejected a bill which would have legalized online sports betting in the state.

By a vote of 28-32 on the third reading during their March 9th session, the House defeated House Bill 133 based on ethical grounds. Sponsored by six representatives and two senators, the bill progressed through the House Committee last week before making it to the floor.

Could Damage People’s Lives

The House acknowledged that Wyoming online sports betting could have created a $449M market, they argued that the legalization of online sports betting could damage people’s lives. Rep. Evan Simpson of Lincoln County said that addictions will happen if the bill is passed and gambling addiction damages not only lives but also families.

Sheridan County Rep. Mark Jenings meanwhile, contended that online sports betting is a vice and it is the House’s constitutional duty to protect its constituents against vices. Sheridan referenced Section 20 of the Wyoming Constitution for his argument. Meanwhile, Fremont’s Rep. Andi Clifford said that she opposed the bill because representatives from the Eastern Shoshone Tribe were not included during the discussions.

House Bill 133

The Wyoming Gaming Commission was supposed to regulate Wyoming online sports betting. Only online gambling was to be legalized not only to bring people out of the unregulated online sports betting market but also to eliminate in-person sports wagering that involves bookkeepers in Wyoming.

House Bill 133 would have required sports betting operators to remit 10% of their online sports wagering revenues to the state. Before the bill was defeated, the legislators considered an amendment that would have directed the state’s collections to the state’s School Foundation Program instead of the General Fund. That proposal would’ve helped solve the structural deficit for education funding.

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Online Gambling, Sports, Sports Betting, US Legislation

Colorado Sports Betting Sets State Record With $326M in January 2021

By Brian Walker

Colorado Casinos
Colorado sports betting continues to soar high as January 2021 figures reveal a record $326.9M worth of bets were made for the said calendar month.

The number easily tops Colorado sports betting’s previous high of $284.6M which was set in December 2020 or a 14% increase from the previous month. It also translated to a $1.1M tax revenue for Colorado which was an increase of more than 125% from the previous month.

Basketball is Top Sport

Professional Football is the top sport for betting in the United States but that isn’t the case in Colorado. According to the January figures, basketball is the driving force behind Colorado sports betting with the NBA amassing a total of $88M in total bets. College basketball was third on the list, bringing a total handle of $39M.

The NFL ranked second to the NBA with more than $75M of wagers but with Super Bowl LV concluding the league’s latest season, there will be very little pro football bets made between now and Fall. Table tennis is a surprise market in Colorado with a total of $11.8M bets made during the previous month.

Retail Betting is Picking Up

The pandemic has seen punters utilize online sports betting and that has also been the case in the Boulder State with 98% of all January 2021 wagers placed made via the internet. However, the in-person handle saw a slight increase as retail betting produced $7.5M in January bets, which was double the December figures.

The reason behind the uptick in in-person betting is the gradual lifting of restrictions and limitations that were put in place at the onset of the COVID-19 pandemic. With these slowly getting removed, the retail sportsbooks in Black Hawk, Central City, and Cripple Creek have seen an increase in sports bets taken.

Gaining on the Leaders

Sports betting has been up and running in the Boulder State for the past nine months and it has seen a total of more than $1.5 B in sports bets placed. The tremendous growth since inception has seen Colorado sports betting gain on the leaders in the industry.

New Jersey continues to break records month after month and is the top sports betting state in the U.S. The Garden State raked in a massive $958M in January. Nevada is also gaining on New Jersey but is still in second place. Meanwhile, Pennsylvania and Illinois are ranked 3rd and 4th, respectively.

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Casino, Sports Betting

Penn National Gaming Secures Partnership With NY Casino

By James Murray

New York

There has been a huge amount of attention placed on Penn National Gaming over the past few years. This company was founded in the 1960s and now owns and operates 43 different gambling venues around the United States. This week, news broke that Penn scored an exciting new partnership with a major NY casino.

This is a huge move for this company. New York is currently in the process of getting its online sports betting industry up and running. Today, we’ll talk about what Penn’s move into this state means moving forward.

Let’s get into it!

New York is Still Working to Approve Online Sports Betting Legislation

New York is home to a huge professional sports industry. It’s no surprise that many lawmakers here immediately began looking into sports betting regulations after PASPA was struck down in May of 2018. Finally, in 2019, the first legal sports wager was finally placed here.

Things weren’t perfect, though. New York went against many recommendations and only decided to legalize land-based sports betting. Sportsbooks opened in various casinos across the state, yet many of them struggled to generate revenue.

Online sports betting has proven to be a far more lucrative industry. Neighboring New Jersey has a regulated internet sports betting industry set in place. Throughout 2020, this state set numerous new sports betting handle records from its online betting operations.

Many have been pushing New York to finally begin allowing online sports gambling. Many lawmakers agree and have been working to draft legislation that allows this form of wagering. Even Governor Cuomo believes it’s a necessity, yet wants to ensure the state benefits from such a move.

A sports betting bill is currently making its way through the state’s legislative process. Under this bill, up to 14 different sports betting operators would have the ability to gain an online license here. There are some issues arising, yet most feel online sports gambling will finally become available in New York this year.

Some major gaming companies are now making the move into this state. That includes Penn National Gaming, which is already banking on online gambling options becoming available here soon.

Here’s What We Know About Penn National Gaming Moving into New York

There has been a lot of media coverage on Penn National Gaming in recent years. Much of that has to do with the company’s investment into Barstool Sports. Back in January of 2019, this company invested an astounding $163 million into Barstool for a 36% stake in the company.

Penn Gaming has also been working hard to expand in recent years. In 2015, for example, it purchased the popular Tropicana Hotel-Casino in Las Vegas. In 2019, the company purchased two more major properties in conjunction with VICI Properties.

Now, Penn seems focused on New York. News broke this week that the company has agreed to a new partnership with Rivers Casino & Resort in Schenectady. This 20-year deal gives Penn access to the New York mobile sports betting and casino market.

Jon Kaplowitz, Penn National’s Sr. Vice President of Interactive Gaming, expressed his excitement about breaking into New York in an official statement this week.

“Gaining potential access to what could become one of the nation’s most lucrative sports betting markets has been a major priority for our Company,” he said. “We are hopeful that the New York State Assembly will follow those leading revenue producing states that allow for multiple skins for mobile sports betting. A state the size of New York certainly warrants open competition and a free market approach.” 

This is a huge move for Penn Gaming. This company has seen tremendous success breaking into new markets in recent months including Michigan. Most agree that New York has the largest online sports betting market in the US.

As of now, New York still has not approved any legislation to allow online sports betting. Once that changes, however, Penn Gaming will have the ability to launch an internet sportsbook here. Stay tuned for more updates over the next few weeks!

Online Sports Betting Revenue Continues Increasing Around the US

New York seems to be just months away from getting its online sports betting operations up and running. The states that have already done so are profiting in a big way. Online sports betting revenue is surging around the country right now.

That includes the aforementioned state of Michigan. Online sports betting didn’t become available here until the final ten days of January. In those ten days, the state saw an online sports betting handle of $113 million.

New Jersey is also seeing impressive online sports betting revenue figures right now. The regulated sportsbooks here earned an astounding $82.6 million in January. Analysts expect even higher figures in February due to the Super Bowl.

Many different states are now working hard to legalize and regulate their online sports betting industries. That includes California and Arizona. Many analysts expect nearly every state to have a sports betting industry set in place by 2025.

Penn National Gaming is getting ahead of the game by breaking into New York. It is likely to pay off as soon as online sports gambling gets approved here.

When do you think New York will begin allowing online sports betting? Let us know in the comments section below!

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Lottery, Online Gambling, Sports, Sports Betting

New Kansas Sports Betting Bill Introduced in State Senate

By Brian Walker

Sportsbook
A new Kansas sports betting bill was introduced in the Senate last Tuesday.

The new bill, SB 84, resembles last year’s offering – SB 283, which the senate passed 23-15 but never got a hearing in the house.

Like last year’s proposal, the Kansas Lottery would be key regulator for Kansas sports betting. Similarly, the state would impose a 7.5% tax for in-person sports bets and 10% for online wagers. Bettors would be at least 21 years old and must be physically present within the state lines. Betting on all collegiate and professional sports is permitted and it does not require the use of official league data nor does it mention any kind of payment to the professional leagues.

Up to 12 Legal Online Sports Betting Options

The proposal will also allow the state’s four commercial casinos to open a retail sportsbook at their properties and have up to three online skins ( providers), meaning the state could have up to a dozen legal online sports betting operators.

Kansas’ native American gaming tribes are also allowed to renegotiate their government deals to include Kansas sports betting as well. The bill would also allow the Kansas Lottery to have some skin in the game by contracting with an existing gaming facility manager for sports betting.

The Kansas Speedway in Kansas City will be permitted to open an area for online sports betting but would not be allowed to accept in-person wagers. That’s because adjacent to the track is the Hollywood Casino which, under the bill, can accept in-person bets.

A Process to be Followed

Like in every other state which offers legal sports betting, there is a process to be followed. Officials would have to come up with and finalize rules before Kansas sports betting commences. The Law requires the regulators to complete the process on or before October 31, 2021.

The Senate Committee on Federal and State Affairs, which introduced the bill, currently has jurisdiction over the bill. It isn’t scheduled to discuss SB 84 this week but is expected to tackle it as early as next month.

Should the bill pass the initial committee, it will have to go through several committees before a vote before the Senate. If it is approved by the Senate, the House would have to agree on a similar version before it will be sent to Gov. Laura Kelly for her signature.

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Michigan, Online Gambling, Sports Betting

Michigan to Launch Online Sports Betting on January 22

By Brian Walker

Odds Board and Money

Bettors in the Wolverine State will finally be able to place legal online sports bets on January 22 after officials revealed the launch on Tuesday.

In a statement, the Michigan Gaming Control Board authorized nine gambling operators to start accepting online sports bets at noon of Friday, January 22nd. Per MGCB executive director Richard S. Kalm:

“The Michigan Gaming Control Board and the state’s commercial and tribal casinos will begin a new era Jan. 22 with the launch of regulated online gaming and sports betting. Michigan residents love sports and, judging by inquiries we’ve received, eagerly anticipate using mobile devices to place bets through the commercial and tribal casinos. Online gaming and sports betting will provide the casinos with new ways to engage with customers while the state and local communities will benefit from taxes and payments on wagering revenue.”

Just in Time For the NFL Conference Championship Games

Michigan legalized sports betting in 2019 but up until 11:59 a.m. of Friday, January 22nd, punters had to place their bets in person at retail venues. However, that will change later this week with the launch of legal Michigan online sports betting which is just in time for Sunday’s NFL Conference championship games.

The nine legal Michigan online sports betting operators that are set to go live on Friday are DraftKings, WilliamHill, FanDuel, Golden Nugget Online Gaming, Rush Street, BetMGM, Wynn, and Barstool Sports. According to the MGCB, more operators are expected to receive authorization in the coming weeks.

A Lucrative Revenue Source

Friday’s launch comes 12 months after Gov. Gretchen Whitmer signed a bill to legalize online gambling in the Wolverine State. The commencement of legal Michigan sports betting should be a lucrative revenue source for the state’s casino industry which struggled in 2020 because of the coronavirus pandemic.

The three casinos in Detroit saw a 56% decrease in combined annual revenue in 2020. The MGCB says that legal Michigan sports betting and online gaming could be a way for casinos to make up for the losses they suffered due to the pandemic. At the same time, it will generate tax revenue for Detroit and the state.

Online Tax Rates

Legal Michigan online sports betting will be taxed at 8.4% which is one of the lowest in the United States. The tax rate and payment rate for internet gaming ranges from 20% to 28%. For Detroit casinos, 30% of all online gambling taxes will be allocated to the city while 65% will be allocated to the state Internet Sports Betting Fund or the state Internet Gaming Fund. The other 5% will go the Michigan Agriculture Equine Industry Development, capped at $3M per year from each tax source.

Meanwhile, 90% of legal Michigan online sports betting tax collections of Tribal casinos will go to the Internet Sports Betting Fund while 10% will go to the Michigan Strategic Fund. As for Tribal online gaming payments, 20 % will go to local jurisdiction governing body for services, 70% to the Internet Gaming Fund, and 10% to the Michigan Strategic Fund.

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Connecticut, Sports Betting

Foxwoods Casino Resort is Getting Ready to Offer Sports Betting

By James Murray

Thinking Man Holding Money With Sports Equipment

Connecticut is one of many states that has yet to approve sports betting legislation. That isn’t stopping some of the casinos here from expressing interest in this new industry, though. Reports have just surfaced that claim the Foxwoods Casino Resort has signed a deal with DraftKings to offer online sports betting in the future.

Many expect Connecticut to finally legalize and regulate internet sports betting in 2021. The Foxwoods Casino certainly feels the launch of this industry in the state is just around the corner. Today, we’ll talk about this casino’s deal with DraftKings.

Let’s get into it!

Connecticut Fails to Approve Sports Betting Bill in 2020

The United States is now home to one of the largest and most profitable sports betting industries in the world. It’s incredible when considering this industry is only a few years old. It wasn’t until mid-2018 that states other than Nevada were able to offer sports betting options.

Several more states approved bills to legalize sports betting in 2020. That includes Louisiana, South Dakota, and Maryland. Most analysts expect these states to see major revenue earnings as soon as their regulated sportsbooks go live.

Some felt that Connecticut would choose to get its sports betting industry up and running this year. Many lawmakers here have been pointing at the potential for major earnings for the state. Unfortunately, no bills were passed before the end of the legislative session in November.

Some of the commercial gaming entities here have blamed Native American tribes for failing to approve this industry. These officials claim the tribes are looking for exclusive rights to sports betting options. It’s the same issue that’s led to delays getting California’s sports betting industry operational.

Negotiations between these two groups are ongoing. No real progress has been made yet, and hope for Connecticut to legalize sports betting in 2020 is now dead. Proponents of this industry are now pushing to get things approved next year.

It seems the Native American tribes here are expecting this industry to launch in 2021. One of Connecticut’s biggest casinos has just signed a new deal with one of the world’s biggest sports betting companies.

Foxwoods Casino Resort Signs New Deal With DraftKings

Connecticut is home to only two major Class III casinos. That includes the Foxwoods Casino Resort in Ledyard and the Mohegan Sun in Uncasville. Both of these properties are operated by Native American tribes.

New reports claim that the Foxwoods Casino has just signed a new deal with DraftKings. Under this new deal, the Foxwoods Casino will have the right to launch online sports betting options through DraftKings once legislation is approved. This deal also allows for this casino to offer daily fantasy sports options.

Foxwoods has been pushing hard to get Connecticut’s sports betting industry operational. The owners of this property are now taking matters into their own hands and clearly expect online sports betting to be approved in 2021.

Rodney Butler, chairman of the Mashantucket Pequot Tribe which owns Foxwoods, released a statement on this new deal to the media this week.

“We’ve proven our ability to shape the future of gaming time and time again, and now we’re ready to drive sports wagering and online gaming for the state of Connecticut,” Butler said. “Working through the tribal gaming compacts, we will help bolster our economy with much-needed revenue and virtual entertainment.”

Foxwoods has been hit hard by the pandemic. The casino’s revenue figures remain far lower every month this year than they were in 2019. With Covid-19 cases rising steadily in Connecticut, many expect revenue to continue dropping for the next few months.

Online sports betting could help to bring this casino some much-needed money. We’ll continue offering updates on this situation over the next few months!

States Continue to See Big Earnings From Sports Betting Options

More than half of the US has now approved bills to allow sports betting. It’s easy to see why. This is proving to be an extremely profitable industry and is helping to bring states money via taxes at a time when it’s desperately needed.

Land-based casino revenue continues to drop. Online sports betting revenue, however, has been steadily rising throughout the year. Several states have recently begun seeing record-earnings from their sports betting platforms.

That includes Colorado. Lawmakers here approved sports betting legislation back in 2019 and launched the first sportsbooks in May of 2020. In October, Colorado saw an incredible $17.4 million in sports betting revenue. That’s up more than $10 million from the month prior.

Pennsylvania also saw a major increase in sports betting revenue. New reports claim this state saw more than $47 million in revenue from this industry in October. Pennsylvania’s October sports betting industry also saw more than $500 million in sports betting handle.

Every state is taking a close look at this industry now. It seems highly likely that Connecticut will legalize and regulate this form of gambling next year. That’s great news for the Foxwoods Casino Resort and its new partner DraftKings.

Do you expect Connecticut to legalize online sports betting in 2021? Let us know in the comments section below!