SportsHandle: That was the week that was in US sports betting

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SportsHandle and friends deliver another round-up of the week’s big developments in US sports betting.

Three-In-Four ‘Young’ Sports Bettors See It As A Side Hustle, Survey Found

Sports betting for an income? Don’t bet on it, but a strong majority of younger bettors think it’s possible.

A December survey from Whistle Wise Quantitative Research of 470 people aged 21-34 found that 76% see gambling on sports as a “form of entrepreneurship.” Or, in millennial and zoomer terms, a side hustle.

That seems like a high percentage, given how rare it is to be able to make a living at sports betting. But, to be fair, the poll didn’t ask whether it could be a primary source of income. Professional sports bettors are said to have a winning percentage of only slightly above 50%. Legendary NBA sports bettor Bob Voulgaris has claimed to have a 57% winning percentage, for what it’s worth.

Full story here.

Maryland Sports Betting Framework Passes House, Heads to Senate

The Maryland House on Thursday morning passed an amended version of a sports betting framework bill  that could ultimately allow for nearly 40 sports betting operator licenses. The House voted 130-9 to approve HB 940 and send it on to the Senate for consideration.

The bill is much expanded from when it was initially filed. At that time, it called for 10 stand-alone digital licenses and allowed for retail and mobile books at or tethered to existing casinos. But after listening to stakeholders, the House Ways and Means Committee amended it to be more inclusive.

Full story here.

Sports Betting Handle In Illinois Climbs To $581.5 Million In January

The Illinois Gaming Board on Wednesday reported another record handle month for sports betting in the state, with operators accepting more than $581.5 million in bets for January.

The Land of Lincoln has set a monthly record with each release by the IGB dating back to its launch in March 2020, and January’s handle was an increase of 18.3% from December’s total of over $491.7 million. Illinois has had mobile sports wagering available since last June, and thanks to Gov. JB Pritzker’s repeated renewals of Executive Order 2020-41 suspending the in-person registration provision to obtain mobile access, it continues to be the primary driver of handle growth.

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Retired Clark County Judge Is On A Mission To Spread Gambling Court Concept To Other States

Cheryl Moss in January ceased running the nation’s only court dedicated to rehabilitating criminal offenders who were caught up in gambling addiction, but her work on the issue hasn’t stopped.

Officially retired now after two decades as a judge in the Family Division of Clark County District Court in Nevada, Moss is spending time lobbying for other states to adopt something similar to the novel Gambling Treatment Diversion Court she headed in Las Vegas during the last two years of her career.

She is working on a New Jersey initiative with advocates there seeking to get legislation passed in that state. She addressed a conference of the Council on Compulsive Gambling of Pennsylvania last week and is collaborating with an advocate there on a plan to lobby state court administrators for creation of a gambling court program.

Full story here

Public Records Disclosure Reveals Dead Heat For Tennessee Sports Betting Market Share

A review of newly disclosed documents from Tennessee’s legal sports betting regulator reveals a three-way dead heat for top market share in terms of betting handle generated in the Volunteer State. But money talks, and BetMGM has separated from the pack with nearly double the revenue of the other leaders, DraftKings Sportsbook and FanDuel Sportsbook.

Of the four licensed operators to go live in Tennessee on Nov. 1, 2020, those three have navigated to neck-and-neck position for total handle generated. Each of them took about $70 million in wagers in January 2021 when the NFL Playoffs were underway and the NBA, NHL, and NCAA college basketball regular seasons reached full swing.

From Nov. 1, 2020-Jan. 31, 2021, the state took in nearly $10 million in tax revenue ($9,743,918).

Full story here.

Connecticut Sports Betting Wounded Last Week, But Betting In Time For NFL Expected

Late last week, the future of Connecticut legal sports betting started to look a little bleak.

“I can’t describe what a setback and insult Tuesday was,” Mashantucket Pequot Tribal Chairman Rodney Butler told the Hartford Courant late last week. “It almost killed the deal.”

The key word there is “almost.”

As of Monday, there still was no deal between the state and both of its federally recognized tribes, despite a soft March 7 deadline suggested by lawmakers. But on local television station last week, Butler promised there is “going to be betting this fall on the NFL.” Now is the time to pick up the pieces.

Full story here