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.
Indiana’s January figures due Monday: January’s numbers probably won’t be as strong as they could have been had the Indianapolis Colts or Chicago Bears made the NFL playoffs. One thing those numbers will not include is any insight into the Super Bowl. Indiana is one of the few states that is not breaking out Super Bowl handle from its standard monthly numbers, so the market will have to wait until March to see how much the state took in. So far, 10 states have reported nearly $270 million in legal Super Bowl bets. Along with Indiana, we haven’t heard from Arkansas, New York or New Mexico, which has sports betting offered by some tribal gaming operators.
Two Nebraska bills get hearings: Monday will also be the first hearing for LB 990, which would legalize sports betting, poker, and daily fantasy sports. The bill is written somewhat ambiguously in order to include online for all three if it passes as introduced. The General Affairs Committee will also hear LB 971, which is just two sentences long and proposes to redefine the definition of a lottery to include bets made on authorized sporting events. The bill doesn’t offer what exactly an authorized sporting event would be, but hopefully Monday’s hearing will.
Kambi reports fourth-quarter earnings: Kambi’s earnings call will be the first opportunity the market gets to hear from CEO Kristian Nylen concerning Penn National’s pending minority stake purchase in Barstool Sports. Kambi plays an integral role in the acquisition as it will provide the sports betting technology used to build Penn’s Barstool Sportsbook app. It also gives Nylen a platform to talk about the impending loss of DraftKings Sportsbook as a partner, which is expected upon completion of DraftKings’ purchase of SBTech.