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

Image source: Shutterstock

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

The Departed: Critical Questions Remain On New York’s Mobile Sports Wagering Tax Rate Matrix As Cuomo Prepares To Leave Office

For months, New York Assemblyman J. Gary Pretlow has expressed frustration with Gov. Andrew Cuomo’s intransigence on mobile sports betting, specifically with Cuomo’s demands for an elevated tax floor on sports wagering revenue that will rank among the highest in the nation.

When Cuomo pivoted on mobile sports betting at the start of the year, the three-term governor boldly proclaimed that New York could emerge as the largest market in the nation. But the market dynamics may change with Cuomo set to leave office Aug. 24 after announcing his resignation last week in the wake of sexual harassment allegations.

Full story here.

Maryland’s Application Review Committee Sets Its Course For State’s Sports Betting

Maryland’s Sports Wagering Application Review Committee held its first meeting Monday morning and tackled one piece of business during the public portion of the meeting. The SWARC voted that it will not require additional information from certain licensees and will let Maryland Lottery and Gaming handle the review and distribution of licensees named in the law.

The decision means the commission could vote on key sports betting venues as soon as at its September meeting, setting up the possibility that sports betting could go live in some fashion in Maryland during the NFL season. Maryland Lottery and Gaming rolled out proposed rules in mid-July, but those have not yet been finalized.

Full story here.

Online Bettors Love Parlays, Beer, And Cigarettes, According To Study

The UNLV Center for Gaming Research looked at sports wagers in Nevada from 1984 to 2020 and found that the average sportsbook win percentage on parlay bets was nearly 31%, compared to about 6% on all straight bets.

Translation? Parlays are a cash cow for the sportsbooks. No wonder why they keep pushing them on would-be bettors.

Full story here.

Political Football In California? Latest Statewide Mobile Initiative Means Two Groups Will Fight For Legal Sports Betting

There is now a “Y” in the pathway to legal sports betting in California after a group of four cities filed a ballot initiative to allow statewide mobile wagering and retail betting at the state’s tribal casinos, horse racetracks, card rooms, and professional sports stadiums. It would also allow for some banked card games at the state’s card rooms, which tribes have long said violates their exclusivity.

The proposal means there could be at least two initiatives on the November 2022 ballot. From a political standpoint, that could create a tough situation for lobbyists and a confusing landscape for voters.

Full story here.

The Easy Way: Online Craps A Hit In NJ

Nothing attracts a crowd in a casino like a hot craps table. The yelling and clapping and high-fiving — the fun is, to use a word that can still sometimes have a positive connotation, contagious.

But can you enjoy a game as social, as interactive, as communal as craps when you’re by yourself, tapping a button to roll digital dice, staring at a tiny screen?

Full story here.

DraftKings To NFT Community: Oops, Our Bad, Sorry About That

On Monday, DraftKings weighed in on the hullabaloo over one user managing to purchase — against all odds — all five of its Tom Brady autograph issue NFTs on Friday.

In short: DraftKings recognizes something went wrong, and is vowing to prevent it from happening again.

“We are extremely grateful to everyone who joined us on DraftKings Marketplace for our first ever NFT drop this week,” the statement from the company read.

Full story here.