Insight
UNITED STATES Sports-betting
AT A GLANCE Lawmakers Approve Sports
Betting Ballot in Louisiana l
New Jersey Sports Betting Records Downturn but Online
Poker Booms l
President Trump Welcomes
Return of Some Sports l
Rush Street Interactive Launches
Online Sportsbook in Colorado l
Roll out of Sports Betting in
Montana a Success So Far l
Premier Lacrosse League Ink
Deal with Genius Sports Group l
Fantasy Sports Bets do not Constitute Gambling Illinois
High Court Rules l
NASCAR and IMG ARENA Announce Virtual Sports
Partnership l
Professional Baseball team Announce Partnership with Monkey Knife Fight
State Tracker Louisiana
Lawmakers have approved a proposal that calls for sports betting authorisation to appear on the November 3 ballot. The measure
National News
Sports events could be held soon providing much needed relief for sports betting operators. President Donald Trump said in a conference call with journalists that U.S. sports leagues will likely make a return without live spectators in a “made for television” format.
Guidance he said was being developed after discussions with leading sports executives and commissioners who form part of an advisory group in the administration’s “Open Our Country” task force. Initial plans to resume activities follow an industry-wide shut down in mid- March. President Trump also said that the return of sport would be good for the nation's "psyche" as he praised a live charity golf event in Florida.
Te TaylorMade Driving Relief tournament marked one of the first live professional sports events in over two
P28 NEWSWIRE / INTERACTIVE / MARKET DATA US Sports-Betting Update
would leave it up to voters in each parish to decide whether they will give sports betting the green light. Additional legislation will need to be put in place when it comes to overall regulation over licensing and taxation. The two bills (Senate Bills 130 and 378) which are identical have both advanced to the Louisiana House floor having made it out of House committee talks and will be voted on by the full House.
Louisiana’s commercial casinos compete with five tribal casinos scattered throughout the state. Lawmakers failed to pass a Louisiana sports betting bill last year which would have allowed for sportsbooks for the state’s casinos and race tracks. The passage of the bills means that there is still momentum for sports betting in the state but approval of the regulatory and tax framework will be much harder to achieve.
State Tracker New Jersey
Sports betting has seen a huge decrease compared to last year due to COVID-19. Due to the crisis Atlantic City casinos closed on March 16, 2020. Internet gaming and online sports wagering operations have continued, but
most sporting events have been cancelled. According to a Division of Gaming Enforcement press release, Sports Wagering Gross Revenue was $2.6m for the month - down 87.6 per cent. Overall total gaming revenue for April was $82.6m compared to $265.4m in April 2019, reflecting a 68.9 per cent decrease.
However internet gaming win driven by huge gains in poker and online casino games saw a massive increase standing at $80.0m in April compared to $36.6m in the prior period - an increase of as much as 118.6 per cent.
Online casino games brought in $74.8m in April, which was a 114.3 per cent increase over April 2019, when it brought in $34.9m. Poker saw a boom jumping in revenue by as much as 208.7 per cent from $1.7m in 2019 to $5.1m
State Tracker Montana
The successful roll out of sports betting in the state has been welcomed by Intralot. Byron Boothe, INTRALOT US Interim CEO said that it was “an exciting time” for the Montana Lottery. With the introduction of legalised sports
months, though without any spectators present on the course. Te PGA Tour plans to return on June 11 at the Charles Schwab Challenge in Fort Worth, Texas. Te tour has said it will not have fans for at least a month.
Sporting events are just one form of mass gatherings that came to an end due to shelter-in-place orders. Trump however said businesses such as sports leagues and restaurants will eventually be able to resume normal activities as the pandemic dissipates.
Plans to reopen sports comes as the mixed martial arts organisation U.F.C., became the first organisation to stage a major professional sports event in the United States since the spread of Covid-19. In a move that was hailed by Trump the event held at the VyStar Veterans Memorial Arena in Jacksonville, Florida led to a significant increase in betting according to local bookmakers.
NASCAR and IMG ARENA have announced that IMG
wagering under the Lottery, INTRALOT will “leverage its world- class resources and technology to provide the best-possible sports betting experience for Montanans,” he said.
Angela Wong, Director of the Montana Lottery, said: “The Montana Lottery, together with our partner INTRALOT, worked hard to build a sports betting product Montanans would support. Our lottery supports our state and helps our retailers build successful businesses, all while giving Montanans winning experiences. We’re excited to see Sports Bet Montana take off.”
In May 2019 Gov. Steve Bullock signed a bill for the state lottery to oversee sports betting. In December the state lottery announced that it would take applications from establishments already licensed for gambling across the state wishing to offer sports betting.
Businesses, such as bars and taverns, will be able to install Sports Bet Montana terminals (kiosks) powered by Intralot. Intralot has a seven-year contract with the Lottery that it signed in 2015, and the contract allows for the company to offer sports betting.
ARENA has licensed official assets to create a virtual sports betting game that replicates some of NASCAR’s tracks. Te virtual product, created by Leap Gaming, will be offered to sports betting operators globally. Additionally, NASCAR and IMG ARENA have formed a long-term partnership that will provide international sports betting operators the ability to live-stream NASCAR Cup Series races for the first time. Te deal expands IMG ARENA’s portfolio of virtual sports betting products.
“Adding NASCAR to our client roster is a proud
achievement. Te brand is renowned in sport and entertainment with the high-octane race series providing must-watch, appointment-viewing content for more than 70 years,” said Freddie Longe, Executive Vice President and Managing Director at IMG ARENA. “Te partnership significantly bolsters our streaming and official virtual sports offering with a product that we expect to be popular in a number of different markets.”
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