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

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

Emperor’s New Clothes: How High Is The Ceiling For New Caesars Sportsbook?

The Emperor has some new clothes, as Caesars Entertainment has officially begun to shed the William Hill Sportsbook threads in favor of a new Caesars Sportsbook, donning the imprimatur of a more widely recognized brand name in the U.S.

Caesars had aimed to make the move prior to the start of the new NFL season, and in meeting that mark it has also executed before the next three states — Arizona, Louisiana, and Maryland — debut licensed online sports betting. Arizona is expected to go live by Sept. 9, Louisiana later in the year, and Maryland not later than Super Bowl LV in February.

Full story here.

Genius Sports, DraftKings’ Deal Carries Vast Implications For Rates On Official NFL Data

Genius Sports and DraftKings agreed on an expanded, multi-year sports data supplier agreement Thursday in a comprehensive deal that grants DraftKings access to Genius Sports’ full portfolio of global sports data and content, including its crown jewel: a complete suite of NFL-related products.

Full story here.

Illinois Posts Hefty Sports Betting Revenue Haul Of $47.5M In June

The month of June was very good to sportsbooks across Illinois, as the state’s gaming board reported more than $47.5 million in adjusted gross revenue for operators Thursday.

The hold of 9.97% on the traditional handle of $476.5 million was the highest recorded in Illinois since the state began accepting wagers in March 2020. That jump of nearly three full percentage points from May’s win rate of 7.14% more than compensated for the dip in handle from May’s total of nearly $507.3 million, as operators saw their revenues climb 31.2% month over month.

Full story here.

Penn National Acquiring theScore In A Major North American Betting Move

Penn National Gaming has vastly expanded upon its bold partnership with Barstool Sports in the North American betting space by announcing it will spend $2 billion to acquire theScore, a leading Canadian sports media and betting company.

Top executives of Penn National, Barstool, and theScore touted the deal on a Penn National quarterly investment call Thursday morning as one creating an unconventional, forward-thinking “triumvirate” that synergizes their strengths in gaming, media, marketing, and technology to become a force in both the U.S. and Canada.

Full story here.

Sports Betting Exchange Firm Sporttrade Coming To Colorado In 2022

Sporttrade, the nascent company that will allow users to trade sports bets like stocks, announced Tuesday that it has gained market access in Colorado through the purchase of Momentum Sports and Entertainment, a sports betting company. That Denver-based firm owns an internet sports betting operator license through an agreement with GF gaming and its local affiliate Easy Street Casino.

Full story here.

Sharks’ Evander Kane Denies Allegations of ‘Throwing’ NHL Games

San Jose Sharks forward Evander Kane came out on Sunday and firmly denied allegations by his estranged wife he placed bets on NHL games, including ones involving the team he was playing for.

Full story here.

Wyoming, South Dakota Approve Sports Gambling Rules

The Wyoming Gaming Commission approved a series of online sports wagering rules on Monday, setting the stage for the launch of mobile sports betting across the state.

Wyoming’s mobile-only framework for sports wagering compares favorably with the infrastructure in Tennessee, which prohibits betting through retail sportsbooks. When Wyoming Gov. Mark Gordon signed HB 133 into law in April, he became the first governor to legalize sports betting in his respective state during the 2021 calendar year.

Although the state must issue a minimum of five licenses, a cap for a maximum number of licensees has not been set. The commission intends to begin issuing licenses before the start of the NFL regular season on Sept. 9.

Full story here.