Matthew Waters and the team at Legal Sports Report highlight some of the key US sports betting issues to look out for in the week ahead.
New Jersey to release 2019 sports betting figures Tuesday: At this point, the industry is just waiting to see by how much the Garden State tops 2018’s betting handle total of $1.2 billion. Handle is already at $4 billion through November as the industry has ramped up quickly, thanks mostly to mobile sports betting. The state is looking to set its fourth straight sports betting monthly handle record in December after topping the half-billion mark in November. All eyes will be on the 2019 total as the industry watches to see if New Jersey can maintain its growth while surrounding states add sports betting as well.
Tennessee Sports Wagering Advisory Council meets Tuesday: It’s expected that Tennessee’s sports betting minds will talk about the public comments received during the extended period that ended Jan. 6. The biggest issue is likely to be the minimum hold of 15% stated in the draft rules. The minimum hold requirement is expected to hurt the ability of the operators to offer competitive prices and keep bettors away from offshore sites.
First insight into fourth-quarter results: GVC Holdings will kick off earnings season for sports betting operators with a trading update Friday. While GVC mostly operates in the UK, it is a partner with MGM Resorts in the Roar Digital joint venture, which is behind the BetMGM platform. GVC’s full results are due out March 5 but the early look could give some insight into whether BetMGM was able to pick up market share in New Jersey. GVC could also give more details on the switch to BetMGM from PlayMGM in Nevada, which is scheduled for March.