SportsHandle’s Brett Smiley brings us another round-up of the biggest developments in US sports betting.
Football Is King: MS September Sports Betting Handle Reaches $31.77 Million
It’s official — Mississippi loves it some football. The state’s gaming commission released its September sports betting numbers on Monday, and they are sky high. Magnolia State sports bettors wagered $31.77 million and produced $5.5 million in taxable revenue during the first full month of professional and college football. Those numbers dwarf August, which had $644,489 in taxable revenue on a $7.7 million handle.
Full story here.
So How Does This William Hill-FanDuel Copyright Infringement Lawsuit Play Out?
As you may be aware by now, bookmaker William Hill US (WH) filed a lawsuit this week against FanDuel in New Jersey District Court, alleging copyright infringement, specifically for copying the company’s “How to Bet Guide” for its own guide in print and online.
The examples WH gives in its complaint, if true, are pretty damning.
Full story here.
Bookmaker William Hill and New Jersey Devils Strike Sponsorship Deal — A First In New Jersey
The William Hill Sports Lounge,located outside Section 18 on the Main Concourse of Newark’s Prudential Center, is the latest major marketing foray executed by the rapidly expanding U.S. bookmaking operation, William Hill US announced on Thursday.
ESPN reports that because the NHL is not comfortable with the venue being an actual sportsbook in which bets can be placed at windows and kiosks, instead, “company ambassadors” will assist bettors in downloading William Hill‘s betting app to make wagers online.
No opening date for the remodeled and rebranded space has been announced.
Full story here.
How States Are Spending Their Sports Betting Tax Revenue
As states across the country are discussing legal sports betting, there has been much ado about sportsbooks operating on thin margins, which is news to a lot of lawmakers. By most accounts, a sportsbook earns between $1-$2 in net revenue from every $100 bet after all the money is divvied up. So where does the money go?
Much of it goes back to the winning bettors and there are the obvious expenses — paying employees, buying software and equipment, purchasing or renting space. And then there are taxes. The seven states that have legalized sports betting so far* apply wildly different tax rates on gross sports wagering revenue, from 6.75 percent in Nevada to more than 50 percent in Rhode Island.
Full story here.
