SportsHandle and friends deliver another round-up of the week’s big developments in US sports betting.
New York Mobile Handle Could Reach $400 Million For First NCAA Tournament
New York has already hit the heights since launching mobile sports wagering in mid-January. Now the Empire State will make its first descent into madness.
March Madness, that is.
When the New York State Gaming Commission releases its full February figures, the state’s two monthly handles of 2022 will rank first (January) and second (February) in the all-time national post-PASPA era that began in 2018. Not everyone anticipated such a fast start, with many expecting New York to need time to mature before reaching the top of the list and becoming, in the words of Frank Sinatra, “A-number one.”
Read the full story here.
Billion-Dollar Sports Betting Handle Boom Ends In New Jersey
The challenge for New Jersey’s sports betting handle to reach the billion-dollar mark for a sixth consecutive month in February was two-fold: only one football game and with just 28 days in the month.
The combination led to a “mere” $985.6 million being wagered in the year’s second month, meaning that the amount wagered per day was enough to hit the billion-dollar mark in a 30- or 31-day month. The Super Bowl alone produced a handle of $144 million, per an earlier Division of Gaming Enforcement announcement.
Read the full story here.
As Mobile Sports Wagering Explodes, So Too Does Fraud
In sports betting, you learn to take the good with the bad. Cash a gutsy moneyline wager on a 6-point underdog one day, only to see a favorite fail to cover by virtue of a missed extra point or free throw the following evening.
Same goes for the industry at large, where the stakes are typically higher. On the one hand, the rapid legal expansion of mobile sports wagering in the United States has made it a more accessible, transparent, and tightly regulated activity. On the other hand, the sports betting boom has led to a significant spike in proxy betting (like the recent case that got DraftKings fined), bonus abuse, and sophisticated gambling rings that traffic in stolen and fake identities.
Read the full story here.
MLB Players Coax Three Gambling-Related Concessions From Owners
Players negotiated three new concessions pertaining to sports gambling out of Major League Baseball as part of the new collective bargaining agreement, US Bets has learned.
The new CBA, which was ratified by both sides last week to end baseball’s three-month-long lockout, compels teams to take new steps around player safety, bans the sale of players’ biometric and medical data, and frees active players to sign deals to work as brand ambassadors for sports betting operators.
Read the full story here.
When A Digital Sports Betting Platform Goes Down
Minutes before a big event, you go online to place a bet. But wait, the platform is down! #$%@!!&? You see red. Frustration mounts. What to do ….
The old adage “it’s not rocket science” doesn’t necessarily apply here. It turns out that operating a sports betting platform, may, in fact, be even trickier than launching a rocket into space.
Read the full story here.
Bet365 Now Licensed In Ontario, Launching Bracket Challenge In Canada
You can add another sportsbook to the growing list of operators to acquire iGaming licenses in the province of Ontario, as bet365 appeared on the Alcohol and Gaming Commission of Ontario’s website as an approved operator Tuesday morning.
Bet365, which has been operating in Canada for several years as a gray market sportsbook, launched its Canada App earlier this month, indicating its intentions to become regulated in the province. The app has all the same features as its gray site, except there’s a location verification process to ensure the bettor is located within provincial borders.
Read the full story here.
Louisiana Posts $238 Million Handle In First Full Month With Mobile
The Louisiana Gaming Control Board reported an overall handle of more than $238 million for the month of February on Monday, with nearly 90% of that amount generated via mobile and online wagering.
The Pelican State’s six online operators — Caesars, Barstool Sports, DraftKings, BetMGM, FanDuel, and BetRivers — combined to accept just over $211 million in wagers. That was a five-fold increase from the $40 million handle generated in the final four days of January when mobile went live.
Read the full story here.
