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.
Image: dean bertoncelj/Shutterstock

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

Resorts World Launches New York’s Eighth Sports Betting App

At the time of New York’s Jan. 8 sports betting rollout, only DraftKings, FanDuel, Caesars, and Rush Street were approved by New York state regulators to launch their mobile sports betting apps at the time of the initial rollout on Jan. 8.

That left five other approved operators scrambling to get up to speed. On Thursday, Resorts WorldBET became the eighth overall to make its debut, with the claim of being “New York’s safe and fast mobile sports betting app” and — like its rivals — heavily touting same-game parlays.

Full story here.

WynnBET Adds Some Much Needed Transparency To Sportsbooks

WynnBET certainly hasn’t been a big winner in the Great Sportsbook War. It is, in many respects, an afterthought. So much so that the New York Post reported in January that Wynn Resorts is trying to sell off its Wynn Interactive unit for $500 million, down from the $3 billion valuation the company was talking about a year ago.

So it might come as a bit of a surprise that WynnBET has launched what objectively may be the greatest single sportsbook-related item in the short history of American legalized online betting.

Full story here.

Flutter Confirms June Arbitration Deadline With FOX On FanDuel Option

Nearly 12 months after Fox Corp. filed a lawsuit against Flutter over the fair market value of its minority stake in FanDuel Group, Flutter executives revealed that a new timeline has been set for entering arbitration with the broadcast conglomerate.

Addressing financial analysts at Tuesday’s Fiscal Year 2021 earnings presentation, Flutter CEO Peter Jackson explained that there has been a delay in a potential resolution in the arbitration with Fox as the sides have engaged in negotiations on a possible settlement. Last April, Fox Corp. filed a lawsuit against Flutter in New York’s Judicial Arbitration and Mediation Services (JAMS) over an 18.6% equity option in FanDuel that the corporation is set to receive as part of Flutter’s May 2020 merger with The Stars Group.

Full story here.

TwinSpires Is On Its Way Out, But Few Pennsylvanians Will Mourn Its Exit

The days are numbered for the TwinSpires online sports betting and casino site, and the question in Pennsylvania is whether gamblers will notice or even care when it’s no long longer an option.

Some will, but not many, based on monthly figures from the Pennsylvania Gaming Control Board showing that the online platform from Churchill Downs Inc. and attached virtually to Presque Isle Downs & Casino ranks well below most competitors in usage.

Full story here.

Can Sporttrade And Exchange Betting Work In America?

At some point this year — possibly sometime in the next few months — Sporttrade will go live in New Jersey, becoming the first exchange betting site in the nation.

This milestone is being watched by the industry at large, as the promise of exchange betting — which, to put it very (very) simply, would theoretically offer bettors significantly better odds than at traditional sportsbooks — has the potential to upend the still-brand new apple cart of sports betting.

Of course, there is some history here, as it’s been over 20 years since exchange betting became a thing in the United Kingdom. The results there have been … well, “less than awesome” probably is an apt-enough description.

Full story here.

Can Rise Of Legal Sports Betting Rescue Major League Baseball?

Heard much about pace of play during baseball’s collective bargaining negotiations?

If not, it doesn’t mean you haven’t been paying attention. The issue apparently has yet to come up in the 88 days since Major League Baseball locked its players out. Considering Rob Manfred was practically single-minded about speeding up play in his first five years as commissioner, does that strike anyone else as a bit odd?

Granted, the two sides haven’t made enough progress on core economic issues to delve much into on-field issues before Monday, despite it being MLB’s deadline to reach an agreement before starting to cancel regular-season games. But they’re apparently deep into conversations about the structure of the playoffs, limits on optioning players to the minor leagues, and other issues that aren’t entirely monetary, so wouldn’t you at least expect a mention or two of the speed of the game?

Full story here.

With Illinois College Betting Expanded, Illini Top March Madness Hopeful In State

March Madness is not going to be restricted to the college basketball hardwood in Illinois.

The state is well-represented with 13 Division I teams vying to be part of the 68-strong field for the NCAA Tournament that starts in less than three weeks. After the grousing that came from Champaign to Chicago last year when bettors were unable to wager on the second-round showdown between Loyola and Illinois, state legislators took a small step forward in addressing that with the passage of HB 3136 in November.

Full story here.