Sports betting Archives

March 27, 2024

Georgia house committee sets up 11th-hour sports betting sprint

If the Georgia general assembly is to become the first in 2024 to legalise sports betting, it will have 15 hours, 59 minutes to do so, beginning at 8am EST Thursday (28 March).

The House Higher Education Committee today (27 March) failed to vote on a package of bills that would legalise statewide mobile sports betting. The hitch, once again, is how to spend the funds the state will get from the new revenue stream.

The session is scheduled to end Thursday night. The committee will meet two hours before the full house meets at 10am local time. No matter how you slice it, Thursday sets up a sports betting sprint.

The decision not to vote Wednesday was the second this week, after the Higher Education Committee laid the bill over Monday (25 March). So far, the committee has had three hearings, dating back to 19 March, and at least one cancelled meeting.

Senate sponsor Bill Cowsert is set to introduce an amendment that will appropriate 15% of tax revenue for problem and responsible gamb..

March 27, 2024

NCAA seeks college prop bets ban

National Collegiate Athletic Association (NCAA) president Charlie Baker says the organisation is moving to ban college prop bets from all US markets.

In a statement today (27 March), Baker said that the decision came after there were reports of athletes being harassed in relation to college prop bets.

“Sports betting issues are on the rise across the country with prop bets continuing to threaten the integrity of competition and leading to student-athletes and professional athletes getting harassed,” said Baker.

BAKER SAID THE NCAA WOULD REQUEST OTHER STATES TO BAN PLAYER PROP BETS

He added that some states contacted by the NCAA in reference to the threats outright banned college prop bets. “The NCAA has been working with states to deal with these threats and many are responding by banning college prop bets.”

One of these states was Ohio. Last month, its Casino Control Commission (OCCC) banned player prop bets on college sports following a request from the NCAA. Baker had reached ..

March 25, 2024

Ohtani: ‘I have never bet on sports or willfully sent money to the bookmaker’

On Monday (25 March), during a press conference regarding the sports betting scandal swirling around his former interpreter, Los Angeles Dodgers superstar Shohei Ohtani vehemently denied that he ever bet on sports, sent money to an illegal bookmaker or “willfully” paid off gambling debts for anyone.

The comments were in response to the news last week that Ohtani’s interpreter and friend, Ippei Mizuhara, was stealing from him to support a gambling habit.

“I have never bet on baseball or any other sports or have asked anyone to do that for me,” Ohtani said in a prepared statement. “Up until a couple of days ago, I didn’t know this was happening. In conclusion Ippei has been stealing money from my account and has been telling lies.”

Ohtani appeared with a new interpreter and did not take questions after the statement.

The man who owns baseball’s richest contract – he signed a 10-year, $700m deal with the Dodgers during the off season – was earnest, straightforward and direct in his ..

March 25, 2024

More changes proposed to Georgia wagering bills; vote planned Wednesday

Georgia's House Higher Education Committee further kicked a package of sports betting bills down the road today (25 March) and still does not have consensus on how tax revenue would be spent.

On Wednesday (27 March) the committee will likely vote on whether or not to increase the tax rate in the package of bills from 20% to 25%, eliminate promotional deductions for operators and change where funding is directed as Georgia sports betting legislation continues to be a hot topic.

But multiple sources on the ground in Georgia aren’t hopeful that the online wagering package will pass through the general assembly with just three legislative days remaining.

House sponsor Marcus Wiedower said he would provide committee members with updated language that includes the tax increase, promotional deduction change and a new breakdown of how the funds would be spent, before that meeting.

Earlier versions of the proposals have been approved by the senate, and senate sponsor Bill Cowsert sa..

March 25, 2024

Former BetCity owners fire €104 million demand back at Entain

BetCity's former owners have claimed Entain was not only aware of the KSA's investigations, but also severely impacted their earn-out.

The counterclaim against Entain has been submitted by BetCity’s former owners, which consists of various members of the Singels family. Also included are former CEO Melvin Bostelaar and former marketing director Robert Kooiman.

It comes in response to Entain’s original accusation that undeclared regulatory investigations at the time of the acquisition meant the Dutch-facing business was worth as much as €156m (£133m/$169m) less than assumed.

Entain acquired BetCity for €450m in January 2023, with the deal ultimately giving it access to the Dutch market. BetCity was one of the initial 10 licensees in the Netherlands.

However in January this year, Entain launched a compensation claim after details of two regulatory cases came to light. Entain said in the claim it was unaware of the investigations into BetCity when it acquired the business…

March 25, 2024

Australia rugby league clubs continue blocking of sports betting adverts

Two Australian National Rugby League (NRL) clubs – South Sydney Rabbitohs and Canterbury-Bankstown Bulldogs – have agreed to block all sports betting sponsorship for a further three years.

The Rabbitohs and Bulldogs, both based in New South Wales (NSW), will not display betting ads during home NRL games. They will also continue to educate players, staff and fans about gambling risks.

This is in line with the NSW government’s Reclaim the Game initiative. Launched in 2020, the campaign stretches across several sports and encourages teams not to enter marketing deals with gambling businesses.

The Rabbitohs and Bulldogs have supported the programme for the past two years, displaying Reclaim the Game branding at all home games.

According to the NSW government, since forming the two partnerships, members and fans have shown a marked increase in awareness of GambleAware responsible gambling services. It said around one in three Rabbitohs and Bulldogs supporters are aware of the GambleAwar..

March 25, 2024

Louisiana sports betting handle hits $274.8m in February

Players in Louisiana spent $274.8m (£217.8m/€254.0m) betting on sports in February, an increase on last year but 20.7% behind January’s total.

Combined online and retail handle for February was 39.0% ahead of $197.7m in the same month last year. However, it fell short of the $346.3m wagered in January 2024, meaning the Louisiana market shrank for the second consecutive month.

Online betting accounted for $253.1m of all activity in February, with retail wagers reaching $21.7m.

Turning to revenue, for the market as a whole, this amounted to $25.1m. This was 30.7% up from $19.2m in February 2023 but 35.5% short of $38.9m in January.

Revenue from online sports betting totalled $24.3m, with retail’s share at $780,013 for the month.

As for tax, Louisiana generated $3.6m from online wagering and $128,140 retail betting.

Year-to-date handle exceeds $2.20bn in Louisiana

Looking at the state’s year-to-date performance, total handle for the eight months through to the end of February was $..

March 22, 2024

State of the Union: A look back at the week that was in the US

Welcome to iGB's State of the Union, a look at the biggest sports betting stories we've covered over the week and briefs on others we found interesting.

As the world of sports betting continues move at warp speed, we’re doing our best to keep up and keep you in the know.

Cavaliers coach: Gambler threatened me

Cleveland Cavaliers coach JB Bickerstaff told reporters on 20 March that a gambler had tracked down his phone number and sent “crazy messages about where I live, my kids and all that stuff”.

As reported by the Associated Press, Bickerstaff went on to say that he had shared the information with stadium security. The gambler was located and escorted out of Rocket Mortgage Field House. The coach did not press charges.

Last summer Ohio’s regulator was given increased powers to deal with bettors who threaten athletes when Governor Mike DeWine included language in his budget that would allow the Ohio Casino Control Commission to issue a lifetime ban to harassers. It was..

March 22, 2024

Defendant claims “character assassination” from DraftKings in preliminary injunction case

A former DraftKings employee has accused the company of “aggressive smearing” of his reputation in a response to attempts to block him from working with Fanatics.

Michael Hermalyn worked at DraftKings as senior vice-president of both its business development and growth departments, spending three and a half years with the company. Hermalyn then departed for Fanatics in February 2024, joining as president of VIP and head of its Los Angeles office.

DraftKings has since accused Hermalyn of stealing company secrets and soliciting customers and former colleagues.

In early February, at the request of DraftKings for a preliminary injunction, a federal judge placed a temporary order barring Hermalyn from utilising trade secrets, as well as soliciting customers or employees, in his new role.

However, Judge Julia Kobick of the United States District Court in the District of Massachusetts rejected DraftKings’ request to completely bar Hermalyn from working for Fanatics.

In response, Hermal..

March 22, 2024

Heavily amended Minnesota wagering bill gets out of committee

Minnesota Representative Zack Stephenson revamped his HF 2000, adding daily fantasy sports, allowing for electronic pull-tabs, and doubling the proposed tax as a legal sports betting bill began moving through the house on 21 March.

Stephenson has been championing legal statewide digital sports betting for at least three years.

The A-21 amendment passed 8-4 with the bill approved 8-5 and it is now headed to the tax committee. There is no crossover deadline in Minnesota, which is set to adjourn 20 May. But if sports betting isn’t legalised this session lawmakers will have to craft new bills for the 2025 session as bills do not carry over.

Minnesota lawmakers have been trying to legalise sports betting since 2018. In 2022, Stephenson was able to get his bill through the house, but not the senate.

A key issue has been whether or not the state’s horse tracks should be included in offering wagering. A senate bill that has been through six committees does include the horse tracks and no..

March 21, 2024

Penta working with JP Morgan to explore “strategic options” for Fortuna

Investment group Penta Investments is working alongside JP Morgan to explore the potential sale of Fortuna Entertainment Group.

Penta is exploring its options for Fortuna, which currently operates in Poland, Croatia, Romania, Slovakia and the Czech Republic, running sites and betting shops under the Fortuna, Casa Parulior and PSK brands.

Any sale of Fortuna could purportedly be worth up to €2bn (£1.7bn/$2.2bn), according to Reuters which broke the news. Penta acquired a 79.8% stake in Fortuna in 2017, having first bought into the company in 2005, before launching a takeover bid in 2018.

While not ruling out an exit, Penta is evaluating alternatives that would best help the development of the Fortuna franchise, the business told iGB, while ensuring sustainable growth and the creation of long-term value.

“As discussions are in their early stages, it’s premature to speculate on the specific outcomes,” Penta said. “However, the possibility of a majority sale remains within the realm of..

March 21, 2024

Florida Supreme Court won’t hear sports betting case

Florida's Supreme Court has denied a petition from a pair of pari-mutuels to hear their case against Governor Ron DeSantis and the state legislature that could have altered the future of sports betting in Florida.

Justice Meredith Sasso wrote that West Flagler and Associates (WFA) chose the wrong “vehicle” to seek relief.

“Quo warranto is not, and has never been, the proper vehicle to obtain a declaration as to the substantive constitutionality of an enacted law. For that reason, we deny the petition because the relief that petitioners seek is beyond what the writ of quo warranto provides.”

The latest Florida Supreme Court decision may not be the end for WFA in Florida. The pari-mutuels chose to bypass filing in district court and went straight to the Florida Supreme Court.

But Bob Jarvis, a constitutional law professor at NOVA Southeastern, told iGB that WFA could now “follow the correct route and sue in the Leon County Circuit Court in Tallahassee”. Jarvis does not believe t..

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Tag: Sports betting