SportsHandle and friends deliver another round-up of the week’s big developments in US sports betting.
German Government Delays Decision On Bundesliga Season Resumption
A potential May 9 return for the German Bundesliga, which would bring a high-profile European soccer league into the sports betting market, was taken off the boards Thursday when the government delayed a vote on its potential return.
The delay came after Chancellor Angela Merkel met with Germany’s 16 state governors via video conference. It is expected a resolution will be drafted and presented next week, and Merkel said in a statement, “Then we will make a clear decision regarding sporting activities.”
Full story here.
Sportsbooks Grapple With Bettors Withdrawing Funds As Sports Calendar Remains Frozen
The sportsbook industry has faced difficult, if not insurmountable, challenges in the past.
During the 2008 financial crisis, unemployment in Las Vegas peaked at 14.2%, far surpassing the national average (about 10%). As the subprime mortgage bubble burst, home prices cratered, leading to thousands of foreclosures throughout the Valley. At the same time, hotel vacancies surged as Americans with discretionary income shortfalls canceled trips to the entertainment capital of the world. Yet, somehow the Nevada sportsbook handle remained steady over the Great Recession.
Full story here.
Illinois Gaming Board Working Through Sports Betting License Applications
There may not be any sports wagering taking place in Illinois due to the COVID-19 pandemic, but the Illinois Gaming Board has been quietly reviewing and approving sports betting, supplier, and management services provider applications in the interim.
A look at the IGB’s official website shows that all six casinos that have applied for such licenses have been approved, with the Pair-A-Dice Gaming Corporation based in East Peoria the latest to receive a temporary operating permit. Rivers Casino (Midwest Gaming) in Des Plaines and the Argosy Casino (Alton Casino) in Alton remain the only two sportsbooks that have been provisionally approved to accept wagers on sporting events.
Full story here.
Nevada Mobile Sportsbooks Handle $88.9 Million In March As Overall Casino Win Falls Nearly 40%
To no one’s suprise, the Nevada casino industry took a big hit in March.
According to state figures, gaming win fell 39.5% to about $618.1 million, as the Las Vegas Strip went dark around the middle of the month due to the COVID-19 pandemic.
Sports betting has all the glitz and glam in this post-PASPA world, so we’ll give you those figures first. Also per state figures, the Nevada sportsbooks reported $1.45 million in revenue, down nearly 95.5% year-over-year. The sports world came to a near standstill just days before the casinos shuttered.
Full story here.
Here Are The Operators Launching Online Colorado Sportsbooks On Friday (And Those In Queue)
Friday is the day Colorado regulators and operators have had circled in red on their calendar since November 2019 when voters legalized sports betting in Colorado via referendum. The Colorado Limited Gaming Control Commission (LGCC) will have a final pre-launch day meeting Thursday, and Friday, four operators say they will go live with their mobile platforms.
According to Colorado law, state-wide mobile sports wagering permitting remote registration (online) will be permitted, and despite the dearth of sports due to the COVID-19 crisis, BetMGM, BetRivers, DraftKings and FanDuel will all flip the switch, allowing bettors to place bets on everything from UFC 249 to futures bets for the four major professional U.S. sports, and to oddball sports like pesapallo and bandy.
Full story here.
Sports Betting Volume May Be Just A Third Of What It Was Around The World
The drop in sports betting activity around the world as a result of the COVID-19 pandemic could be in the range of 60-70%, based on accounts offered by a mix of global sportsbook executives.
The leaders of companies that operate in Europe and South Africa described their difficulties of the past six weeks in a virtual panel discussion Monday, speaking from their homes and offices. It took place as part of this week’s SBC Digital Summit, a European-based conference of gaming executives from around the world to discuss common issues.
Full story here.
